/biz/ - Business & Finance

China is pumping their centralized trash

BSC is replacing Ethereum, ETHfags are coping

>>29130180
It's very undervalued it'll be $1000 in a week

Combination of people tired of gas fees and wanting to FOMO into trash food and pokemon coins.
Once the dick-swinging tyranny that comes with centralization starts going against the sentiment here, it'll correct.

BSC made it. It won't fully replace ethereum, but at least for now, it's far superior, and the price has some catching up to do. Another 2-5x left in this run... hop on board!

>>29130180
its mooning this way because the population is moving from eth to bnb. you have no idea how early and how big this is. it is the eth 2.0 and uniswap 3.0 they promised that never came but better.

BSC is the real ETH killer

>>29130261
Isn't it also because of the stacking offers ? https://www.binance.com/en/earn#flex-item

End stage bubble, just like dot com crash.

>>29130180
Reminds me of how centralized shitcoin EOS mooned before the 2017 crash.

>>29130261
Basically this. They launched a layer two solution with a "DEX" (in quotes because we all know it's not really decentralized, but whatevs) that's not faster nor cheaper than honeyswap on xDAI was 6 months ago.

Lots of new yield farming opportunities popped up.
Lots of people buying in.
I already bought and got out with a healthy profit.

It's a matter of time till it all comes crumbling down to reality.

>>29130441
This man is a chink shill

>>29130357
Centralized coins never stopped a chink pump before anon
>t. ant shares/NEO
Been the only coin breaking out this alt season it has a chance of going full retard vertical. At Least buy a suicide stack.

>>29130180
scam

>>29130635
>It's a matter of time till it all comes crumbling down to reality.
you think so? why?

>>29130636
Since when asking question to understand better a situation makes me a shill ? Let's discuss

>>29130180

ETH is struggling under network loads, BNB is being shilled hard in China as a replacement, and Binance have frozen ETH withdrawal.

The FOMO is real, so no idea how high it will go or if the top is already in.

Inmevitably BNB will most likely crash down to its stock-to-flow model, which is a function of Binance volume, quarterly burns, and BNB holders.

Target price is at $40-50.

Investing now is high-risk potential high-reward.

>>29130180
"During a gold rush, sell shovels."

>>29130381
I hope you're getting paid well to destroy crypto you fucking chink fuck shill

>>29130180
You have to be KYC'd to Binance or any other exchange that has it
Fuck em

>>29130693
Because he is out and is seething, trying to rationalize his choice, literally

>>29130964
Well, not with Rubic

>>29130693
There's a couple reasons.

1) The way in which they managed to offer such low fees is questionable.
2) Even if it was a legit decentralized L2 solution (it's not), low fees aren't a sustainable competitive advantage. There's other L2 solutions with working bridges and low fees (see honeyswap DEX on xDAI working since... about half a year ago). And plenty others coming soon.

>>29130180
it is NOT killing or replacing ETH.

It is, however taking a part of ETH's use case as a place to flip shitcoins and farm foodtokens. Pancakeswap will be the new Uniswap for at least a few months, and the whole Binance Ecosystem will probablu still grow a lot in this time.

I think it's mostly money that stayed on the side waiting for ETH transactions to lower istead of actually money that is moving from ETH to Binance so you win by actually not going along this 100% ETH OR 100% BNB narrative, but be in both

>>29131153
Rubic is buggy
>asks for a signature but sends nothing for you to sign
>can't swap until you sign the thing they never sent you

>>29131201
how do they reduce them?
also, do you think it'll be like a crash or a slow decline while the other L2 solutions you mention slowly eat their market share?

>>29130180
BSC is the best financial opportunity you can get right now, you can stake dozen of tokens at 500% APY and they also moon in the meantime, just sell those that have pumped too much in a short time. I'm making €3K per day from an investment of €10K in January.

BSC is centralized shit. Everyone just pumping it as a last stage pump.

Stacking API3 instead.

>>29130180
3 word : street shitters and chinks.

>be me
>be retarded
>buy $500 of BNB in 2017 because non retarded friend tells me to
>forget about it for 5 years
>same friend tells me to check my BNB
>have $8000+

>>29130964
I bought mine on Kucoin...

>>29131323
As for the "how," you can look it up, it's basically a few binance-approved nodes.

I don't have a crystal ball, but what we've seen time and time agian is that capital will flow to the best yield and lowest transaction cost. Right now products on the BSC offer that. So, BNB might actually continue to pump for quite a while. I have no idea when it'll stop, but I don't want to be in it when it does.

>>29131589
I think your friend deserves a beer anon

LOOK AT THIS GIRL!!!

What do you guys do when you want to dump? Do you just convert to ether?

CZ pumps 10M market buy at each resistance point. I have the data.

>>29131810
Ok im getting in then

>>29130693
>Chinese team
>CZ
Come on man, how new are you? Those are reasons enough and anyone that promotes this coin is either a nigger shill or getting in for a pnd.

>>29131711
Kucoin needs KYC to trade

seriously though, BNB is a pretty solid hold. I still have like 70% of my portfolio being ETH and I believe that ETH will be the greatest when 2.0 comes out but I did buy quite a bit of BNB and CAKE in the last days.

Most people don't really care whether it's fully decentralized or not as long s it works, and no matter what you say about CZ you can't deny he is a big bra chad who made crypto's mst succesful imperium business. Just BNB as the exchanges token alone was going to pump as it's the best exchange. Coinbase proved it's shit this year by not getting AAVE until after the summer and by still not having DOT & ADA. Binance won the exchange war. Pancake, wich cheap swaps and built in farming is just an actually good second use case and you can see how much money was waiting to flow in.

I mean right now, sure you should wait for a pullback before buying but if you are not getting at least some BNB you are just emotional trading and being stupid

>>29131225
>It is, however taking a part of ETH's use case as a place to flip shitcoins
>part

There are maybe a few projects like Kleros that are actually using eth's infrastructure for other legitimate uses, but let's be real - flipping shitcoins was 99% of eth's usecase.

The malnourished skeleton has failed to deliver 2.0 in a timely manner and solve the gas issue which has been frustrating his users for years, and now the failure has caught up to him.

Good riddance.

>>29130673

Did I wake up in 2017?

>>29130261
>China
Another clueless boomer who doesn't know what he is talking about. Please get better FUD.

>>29132037
>>29131770
ok you've convinced me to me sell my cake that I bought at 87c
thanks just sold 10k

>>29132175

This. Binance is the Apple of crypto

The reason I bought BNB is because Binance is the only 'Eth-killer' with a pre-existing network effect.

That was the Achilles heel of every prior project, including Polkadot. Binance has name brand recognition and a hundreds of thousands of viewers

I hold ETH and BNB in equal portions relative to marketcap and I anticipate a Pepsi/Coca-Cola relationship between the two moving forward

>>29130180
they have low fees so I can buy my shitcoins without paying as much. what's not to like?

>>29130788
you are the same idiot that keeps asking about chainlink. exact same words and nuances in your text. now go back

>>29130381
its not superior in any shape or form except its centralized to 21 nodes like the NYSE instead of decentralized and free, like eth. get real.
the chinks could do anything they wanted to it overnight

>>29131589
>>29131792
Yeah give him a beer

>>29130180
SCAM ALERT! CZ HIRED A BUNCH OF CHINKS TO LARP ON HERE AS “BNBCHADS”. Do you really think all of the ETH demoralization threads are organic? Come on...

>>29131558
that 4 word

No one is going to fall for your 21 centralized validator network scam, CCP.

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Because money laundering.
Buy cheap BNB with legit money
Send dirty money to tether
Tether pumps BNB
You sell BNB
Money laundered

>>29130180
for the newfags its just like august 2017 all over again
back then we had jihan wu and riger ver with bitmain bitching about btc transaction costs and proposing a solution
said solution would centralize bitcoin and conviently make wu a lot of money as most mining fees would be sent to shit he controlled
there was a lot of shitflinging, trolling and paid shilling in the end btc was forked into bch
for a brief moment it enjoyed some gains
but in the end it was all smoke and mirrors where wu blew up a fortune of his own money to support bch, but it neve gained traction for it was centralized chink crap

today we have another chink selling us centralized crap on the promise of fast and cheap transactions, his solution already fucked up once due to centralized crap
and the chink in question has a very big warchest to pay to keep his coin inflated and to pay for several armies of shills
how it will turn out i will leave as an exercise for the newfags

>>29132037
this seems like an extended version of the bch-btc pair on december 2017. i dont think its slowing down for a while, but it will inevitably fall off a cliff, recover, and then settle back around $200 until L2 solutions are implemented with eth & partners.

it is after all just a paypal network at this point with 21 nodes. just a copy and eth paste.
volume is controlled by the same people making promises. they rugged it out in 2017 after the listing, loaded up to the bottom, and will do the same thing again when the above happens - why? because they control huge supplies of all 3 coins.

Pumped so hard and so fast i couldn't even make a margin trade.

>>29130180
ETH is dead because of BNB, but BNB will get rugpulled by the chinks.. hard to tell if ETH will recover after but there'll be a dip for sure

>>29133927
cont
>>29133996
this. at the end of the day, bnb will not survive on its own merits as an ""eth-killer"" for it is a copy and paste of ethereum, is centralized, and subject to whims of not only binance, but probably CCP as well.

>>29131589
larp, you would have way more than 8k if you bought in 2017, more like 250k+

>>29130964
Whitebit, a bit shit but no need to KYC if you withdraw 2 BTC or less a day and aren't buying with fiat

>>29134316
It'll get murked just like XRP did, trying to centralize crypto works 0% of the time.

>>29130517
or XRP to 3 dollars

>>29130818
>high reward
>2x at most

>>29134372
This. It was $3 forever. I would know I sold that shitcoin at the bottom.

>>29134488
looking back it is hard to fathom why XRP had a moment like this. what did it offer aside from the illusion of legitimacy and use by banks? (lol)
this makes more sense - some dapps are at least temporarily moving to BSC, eth is in a place of complete fucking failure (300$ fees people are paying per swap just to get the fuck OFF) its more in line with what BCH and shills were offering 3Y2months ago.
if there wasn't so much institutional money in crypto, i would be 1000% confident of a debilitating crash this week. it truly needs to happen