BNB

CointestMod

#Proof-of-Stake Con-Arguments Below is a Proof-of-Stake con-argument written by excalilbug. > [Proof of Stake](https://en.wikipedia.org/wiki/Proof_of_stake) (PoS) is currently the most popular mechanism that secures the blockchain > > But not always the most popular means the best > > The biggest problem of Proof of Stake is that you can't mine coins, you have to buy them. This gives upper hand to the rich. Rich people can buy more coins. And more coins means more power > > But that's not all. As the name suggests - you can stake your coin. And usually when you stake your coins you get more coins. So rich people, who buy a lot of coins, get even more coins. It's perpetuum mobile for the rich > > And the problem with most (all?) PoS coins is that they weren't "born" naturally like Bitcoin. True, Satoshi mined massive number of bitcoins but those bitcoins don't multiply themselves. If he wanted to have more bitcoins, he would have to compete against other miners. But creators of PoS coins leave many coins for themselves and then those coins multiply themselves by doing nothing > > Not to mention that in order to become a validator in the most popular PoS blockchains you have to be rich ([ETH = around $100k](https://ethereum.org/en/staking/)) or super rich ([BNB = around $4 million](https://docs.binance.org/faq/bsc/val.html)!!!) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Proof-of-stake) to find submissions for other topics.

RayesFrost

Weird coincidence, I have decent amount on almost all of those on the list except for BNB. Am I AI?

CointestMod

#Crypto.com(CRO) Pro-Arguments Below is a Crypto.com(CRO) pro-argument written by IAmGiff. > CRO or Crypto.com coin is the native currency of the Crypto.com app, exchange and blockchain. At time of writing, it’s [\#17 by market cap](https://coinmarketcap.com/). > > To begin, the coin is inextricably linked to the fate of the parent company (which is officially named Foris DAX MT (Malta) Limited and was founded in 2016). The coin’s primary purpose is to support the company’s various initiatives, and the success of those initiatives is what would drive adoption of the coin. For the purposes of pros and cons, I don’t think it’s necessary to make sharp distinctions between the coin and the company. > > **Pros** > > I’ll start with three priority areas outlined in their whitepaper: payments, trading and financial services. In [their own words](https://crypto.com/images/crypto_com_whitepaper.pdf): *“Our strategy is to leverage* ***payment solutions as the primary tool for driving adoption and user acquisition****, while building* ***trading and financial services solutions as the major sources of revenue****.”* > > **Real-world payments** > > The company has two major crypto-related payment initiatives. One is a Venmo-like **Crypto.Com Pay** feature. For merchants, the payment system offers lower transaction costs than typical interchange fees and instant settlement. For consumers, there’s a strong “cashback” program. (Despite the potential, it’s unclear how much uptake there is at this point.) > > The **Visa pre-paid debit cards** are becoming fairly ubiquitous. In the U.S., these are issued by Metropolitan Commercial Bank (a New York State chartered bank & member FDIC). They offer some of the best rewards of any card on the market. There’s a tier system, progressively requiring higher investments in CRO to get to higher tiers, that people seem to find motivating. Many people love the design. There’s lots of information about how they work so I won’t repeat it here. Key point is they're indeed popular. > > The most important point (that’s often oddly missed in this discussion) is the cards give you a fast and efficient crypto offramp. Some cryptos can be loaded directly onto the card. Others you have to take the 3-second step of converting to USD or a stablecoin and then loading the card. Either way, you can start with crypto and buy almost anything IRL in a few seconds. > > **Trading** > > In many countries, crypto.com is a full-service **exchange**. In the US (where I’m based) it’s only an app for now although there are plans to open a full exchange eventually. The exchange is ranked #9 by [Coinmarketcap](https://coinmarketcap.com/rankings/exchanges/) although it’s ranked as high as #4 by [Coingecko’s methodology](https://www.coingecko.com/en/exchanges). Recently their spot market volumes are about 20-25% those of Binance but about 80-90% those of Coinbase. (They are a smaller player for now in derivatives, although that could change if they were able to tap the US market.) They support slightly more cryptos than Coinbase, although nowhere near as many as Binance. The fees are apparently cheaper if paid in CRO, which is a driver of utilization. I can't try it out yet myself. > > The **app** is a limited experience but easy to use. If you set-up an ACH push to fund your account there’s no fee to load money onto the app, and card fees are also waived for your first month. Long enough to get many new users hooked. (Although it appears there’s no fees to buying the crypto, there’s in fact an opaque and variable spread fee; more on this in my cons post). If you’re just trying to buy and hodl crypto on an exchange, spread won’t kill you. If you want a gentle introduction to buying your first $100 of Bitcoin, this will work well enough. At the moment I just checked, you’d get $99.6 of Bitcoin for your $100, so that's 0.4% in spread. > > **Financial Services** > > Their **Crypto Earn** and **DeFi wallet** programs are attractive for new crypto users, and allow users to progressively pursue more complicated investing strategies. Crypto Earn is the custodial option on the app, which offers a simple way to earn fairly high interest rates on many coins. > > Their DeFi wallet is a more advanced non-custodial option, with the ability to contribute to CRO validator’s staking, or to participate in liquidity pools. (There’s also a lending program but I’m not familiar with it.) > > ***In sum***, the crypto.com financial ecosystem is not 100% there yet (especially with no US exchange), but it’s the closest thing I’ve seen to a full-service crypto-based financial services provider, and you can imagine a not-too-distant future where, for some people, the company’s offerings would be complete enough that you could ditch your bank entirely without jumping through enormous hoops. In this world, of course, there’s lots of reasons people will be buying CRO. > > **Marketing** > > Many people are very hyped that Crypto.com does a lot of marketing which should benefit CRO and perhaps cryptocurrency in general. You may have heard there's a Matt Damon commercial and a basketball arena in LA. I'm aware Cointest rules say not to focus on marketing, so I'll just make a quick observation. I’ve seen some people say, “oh this is just hype etc.” but if you look at the traditional asset management space, Charles Schwab has a market capitalization of like $170 billion and the primary differentiator between it and other asset managers is really just that Charles Schwab carpetbombs the airwaves with marketing. Marketing does matter in consumer financial services. > > Cointest rules say not to base arguments on price either (Charles Schwab's market cap is NOT a price prediction btw, sorry y'all!) but it’s also relevant to briefly note here that CRO’s marketcap is about 1/6th of BNB’s, so many people believe there’s still upside to this set of observations. > > **Regulation & Security** > > Crypto.com advertises that it works hard to comply with regulation. As a publicly-traded company, so does Coinbase, of course, but the regulatory-compliant approach is quite a contrast to Binance, for example. [Crypto.com](https://Crypto.com) claims to be the first crypto company to have various levels of ISO compliance, [https://crypto.com/images/crypto\_com\_whitepaper.pdf](https://crypto.com/images/crypto_com_whitepaper.pdf), etc. Philosophical arguments about regulation aside, the relevance to CRO is I think it’s fair to say these efforts at compliance probably reduce (but don’t eliminate) the risk of countries swooping in and hammering the exchange or the coin. > > **CRO technical details & tokenomics** > > There were originally 100 billion CRO, but [70 billion were burned](https://blog.crypto.com/70-billion-cro-to-be-burned/). Most people expect the 30 billion supply to continue in the future. There’s currently about 25 billion circulating with the remainder primarily being distributed overtime as validator rewards. These rewards encourage decentralization of the network by giving people an incentive to act as validators. Some people see that as a philosophical plus, but this is still a coin that's very dependent on the company. > > Although the supply is fixed at 30 billion, it’s worth noting that even in the absence of future burns, the supply on the market could fluctuate considerably if the company built up or ran down its holdings. > > Another factor that some consider favorable is that the Visa cards require people to make progressively larger 6-month stakes for higher tier cards (and keep the stakes to retain the card benefits). Therefore, if the number of cardholders increases, an increasing amount of CRO is tied up and unavailable to be dumped. > > CRO successfully migrated from ERC20 to the Crypto.org Chain Mainnet earlier this year. The company has also very recently launched the [Cronos Chain](https://cronos.crypto.org/docs/chain-details/introduction.html) which is compatible with the Ethereum Virtual Machine and is thus an option for developers to connect Crypto.com users to Ethereum projects and apps and so on. This is interesting to follow, though I think the main reason to invest in CRO for now is if you believe in the company’s vision for executing its financial services offerings. > > **Betting on the sector** > > Finally, there’s a philosophy behind betting on CRO that’s worth mentioning. With apologies to everyone with WAGMI tattoos, there’s over 16,000 cryptos tracked by CoinMarketCap. It’s very difficult to imagine that the majority of these will thrive in the long-term. Some will fade away, new (and often better) ones might arise, etc. > > When you bet on an exchange coin you’re partially placing a bet that demand for buying and trading crypto will continue (at that exchange), but you can be otherwise agnostic on which individual technologies and coins are the best. What’s the best chain for dApps? I have no clue. But I think we’re likely to have dApps in the future and people will want to trade the related currencies and use their crypto. So a nice way to bet on this agnostic view is to invest in exchanges, rather than trying to guess which projects are best. > > **Disclosures:** I’m an Indigo card holder, but don’t hold CRO other than for the stake. I’m personally bullish on cro but I have a lot of cons about it too. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_crypto.com.28cro.29) to find submissions for other topics.

RonDukef

TechGecko $GECK Exclusive Giveaway: Win Your Share of 2 BNB! Hold 200M ​ [https://taskon.xyz/campaign/detail/12003](https://taskon.xyz/campaign/detail/12003) https://i.redd.it/i4nhk0joiirb1.gif

Boddis

BNB. As BTC keeps getting sold to artificially pump it.

Intelligent_Page2732

If Binance falls, we all will get a huge discount on all Crypto available (stay away from BNB than). It will be brutal but Crypto will surely survive this. I hope it won't happen, but I am prepared for it anyway.

Brave-Hospital3807

In what way BNB Verstality and utility impress you?

deckartcain

This is the truth nobody wants to hear. Ethereum is the bankers blockchain project, and is behind the negative attention to crypto due to shitcoins and DeFi hacks. Really strange how much love it gets, and how much BNB is, when it’s literally an Ethereum clone that’s just transperant about it’s centralization.

Pablito-010

Binance be like: "Convert small assets to BNB"

a14alo

DCAing into BTC and ETH (mostly) and a portion of ARB, OP, MATIC, AVAX, BNB and a couple of gems.

KIG45

Ethereum is used the most by developers in the US, while Europe and Asia prefer BNB. I've never used BNB (I'm not a developer anyway) and I'm amazed by this data.

Lokiee0077

I don't think Binance is going anywhere with BNB in the top 5 right now, and if XRP can survive why not Binance, yeah I don't trust anything after the LUNA and FTX crash, so in the back of my mind anything can happen.

Chum181

Binance is hot topic with all the FUD lately. If/when they come out on top I think that BNB and the ecosystem are gonna go nuts.

dead-spiral

Binance TRB coin APR is now of 365%! I saw a shooting star.. I'm shorting BNB..

torvaman

outisde memes, i dont see how BNB doesnt *eventually* go to 0.

Medfried

Are we supposed to use it? I thought it was just a prop to depict that BNB has a utility somewhere.

tsuiteruze

Coinbase COIN is sitting at $0.0003088 currently. It has many zeros but do you think it will pump, do well? Apart from BNB, exchange tokens hasn't done too well though it's useful. What's your prediction?

kirtash93

We don't call Binance Scam Chain for no reason. They renamed a year ago or so from BSC to BNB.

krfc89

everything crashed 90% except BTH, ETH and BNB

juanckjim

Which crypt of from the top 20 are centralized? BNB comes to my mind...

pizza-chit

Binance, CDC, and Kucoin are CEX’s. DyDX is an app built on Ethereum and it’s popular for trading. Binance made BNB coin, Kucoin made the Kucoin token, and CDC made CRO. All using the Cosmos software development kit.

Jocogui

Only reason to choose BNB is faster transactions and cheaper fees afaik.

Maleficent_Sound_919

BNB has been falling

Maleficent_Sound_919

I sure hope you mean ETH and not BNB

Maleficent_Sound_919

This seems strange to me, why would Europe and Asia prefer BNB chain with all thats going on

craigmorris78

Surprised BNB chain > ETH in Europe. Still need to learn more about ETH before BNB

GabeSter

All the best rug pulls and HoneyPots launch on BNB. Guaranteed to lose money.

bkcrypt0

That BNB advantage in Europe is slowly eroding. Wouldn't expect it to last through 2024.

EdgarAllenBoone

Bizarre right? Really few legit projects exists on BNB chain anymore

coinfeeds-bot

tldr; Ethereum dominates web3 developer activity in the US, while BNB Chain leads in Europe and Asia, according to a report from Chainstack. The report analyzed node dominance and protocol preferences in different regions, revealing that full nodes are preferred over archive nodes. Elastic nodes, which can be accessed by multiple users and applications simultaneously, were also found to be popular. Chainstack supports over 25 blockchain networks and enables developers to deploy, manage, and scale their dapps. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

hungry-father

Why would anyone develop on BNB Chain? Europe its time to wake the fuck up

anjie_eth

worked well for me in the last bear market. Loaded up BNB at <$50. Sold my first stack at $400+, rest above that.

Curatole

Binance will still relevant in the next bullrun, so probably will break its ATH. As long as binance is fine then BNB should be fine. If binance is in trouble then it will definitely affect the whole market.

i_reddit_at_reddit

I dont see much hate for BNB in here. I see hate for ALGO and CRO a fair bit

maskedbrush

I got rid of all my BNB honestly

photog623

I'd not touch BNB even with a ten foot pole no matter what. Too risky for me.

UniqueSample1309

But now you're here telling us to buy BNB, so I'll have to pass.

MonsieurGump

If you believe the theory of “If this sub hates, it’s time to buy” then it’s time to load up on BNB.

askolein

Hopefully, BNB crashing to near zero will maybe wake some people that there is a difference between cryptos and company tokens.

seeyouwhenthesunsets

Where is BNB going next bullrun? Anyone here who got in early?

Joe-M-4

Not a bad strategy, my man, not bad at all. Although at this stage of the Experiment BNB is leading ETH and the Total Crypto Market is beating BTC, sticking to the top two is a pretty good approach.

Joe-M-4

Great insight, Lisa - you’re right, no one saw BNB coming. Those who say they did are lying lol I guess that’s a reason to be a bit diversified, you never know

Lisa_Ray0810

I'd have never pictured back then, that BNB would grow this huge, I was staring at BNB hitting 20$ not too long ago, it feels like yesterday

i_reddit_at_reddit

CB because of it being publicly listed. Also I think BASE+ETH > BSC/BNB, but that really needs more time to play out

infested33

BNB. Its shares of the biggest actual corporation in crypto right now not just a token or speculation. Due to all the FUD its undervalued.

Certain_Lifeguard_31

Wow! That is a wild and crazy construct! So defi investors are trusting ETH, ADA, BNB or whatever L1 they are using AND the defi protocol? Then there are L2s that not only trust ETH but the L2 AND the dei protocol? Crypto investors are madmen 🤣. How does one work up the courage to participate? I'm worried I'm going to somehow lose my Reddit password and not be able to get my Moons when I want to sell 😅😅

deathbyfish13

On one of my countries morning shows they briefly run through the top financial markets, think local currency alongside USD, Euro etc. They have a section for crypto with BTC, ETH, BNB and Doge. It's crazy that all of the older generations see these and know about doge alongside BTC and ETH

mochi_ball223

Earning, getting enough moons to keep me happy. Alts have been an incinerator for my money so far (except for BNB)

Maleficent_Sound_919

Good news won't come anytime soon, even their donations of BNB to Libya's floods got shot down

mochi_ball223

That's because I've been here since 2017, I've probably held 20+ altcoins over the years. Other than BNB, they were all a waste of time and money.

dead-spiral

Binance concerning news = BNB pump.. Nothing makes sense anymore.

timelesssmidgen

One thing is sure, YOLOing into BNB right now would surely be a life changing decision one way or the other...

TurgutGazi

Market manipulation fra Binance to save BNB at a crucial high timeframe support.

RunsOnJava98

You’d think BNB would have gone down more given the news.

kryptoNoob69420

Yes I trust them 100% I trust them 100% for being shady. No way there's no fire with all that smoke. I still use them for their low fees but get most of my crypto out(except for BNB) at the end of every month.

coinfeeds-bot

tldr; The Lazarus Group, a hacking group allegedly run by the government of North Korea, currently holds over $47 million worth of crypto assets in their wallets. The stolen assets include Bitcoin, Ethereum, BNB, and Binance USD. The amount of stolen funds has dropped by $39 million compared to September 6. The group targeted online gambling platform Stake and stole $55 million. The hackers' wallets hold $42.5 million in BTC, $1.1 million in BNB, $1.9 million in Ethereum, and $640,000 in BUSD. The wallets have been active since September 20. The group has targeted various crypto firms and service providers, stealing over $200 million in 2023. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Silent_Collection892

100,890 BNB coins, that's a lot 😱

coinfeeds-bot

tldr; Binance has asked its users to convert their EUR balances into USDT after Paysafe, a payments rail in Europe, stopped processing EUR deposits for Binance users. This move comes as Binance faces increasing regulatory pressure and scrutiny. Binance has been under the radar of regulators, including the US Securities and Exchange Commission (SEC), and recently exited the Russian market. Binance Coin (BNB) price has also faced challenges but has held up relatively well. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Crypto8D

BNB did me well a while back

milonuttigrain

Least amount is BNB, like $100 worth, 100x will take it to $10000. Look great but not life changing.

possum-willow

How was this any different that the rest of the BNB honeypot scam coins that were everywhere in 2021

TNGSystems

The tweet in question: Yup, Safemoon has rapidly liquidated millions of dollars of BNB held in their treasury. Nobody knows exactly what for, but simultaneously Karony has been draining USD on ETH into Kraken & Circle, and also sending to a Wintermute Over-The-Counter service. So Karony is rapidly assembling cash. For context, some months ago Karony tried to settle the class action lawsuit but his settlement offer was rejected. John has since listed his Utah Mansion for sale, liquidated millions of dollars in the past month to Gate, Kraken, Circle & Wintermute OTC. Maxis will speculate this is all to do with the upcoming Safemoon Exchange - but Exchange owners usually pay a (relatively small) sum to Market Makers, who provide large amounts of liquidity in return for charging users a small fee per trade. This is millions of dollars coming out. Karony is liquidating assets. We could be dramatic and assume he is getting ready to flee, or we can be logical and assume that he's got some hefty legal fees with two ongoing lawsuits and is possibly prepping to settle.

Armolin

Indeed, Ethereum just needs to increase its market cap by 2.6 to overtake Bitcoin. Meanwhile the closest non-stablecoin Alt to Ethereum is BNB and it would need to increase its market cap by 5.9 to overtake Bitcoin. After that the difference grows geometrically.

coinfeeds-bot

tldr; Cryptocurrency exchange Binance has announced that it will sell its local business in Russia to a new exchange called CommEx. However, little is known about CommEx's founders or background. The exchange was launched just one day before the announcement, and it is registered in Seychelles. CommEx aims to serve customers in the Commonwealth of Independent States (CIS) and Asia. It currently supports browser-based trading and plans to introduce a mobile app in the future. CommEx is already listed on CoinMarketCap but not on CoinGecko. The exchange offers 25 trading pairs, including stablecoins like Tether and Binance's BNB. Initially, CommEx will support peer-to-peer transactions in Russia and later introduce spot trading of USDT against the ruble. Binance users can choose to migrate to CommEx or withdraw their funds to another platform. CommEx has location restrictions and will not allow registration or services in certain countries. There are speculations about the ownership of CommEx, with some users noting similarities between Binance and CommEx's websites. Russia has been a significant market for Binance, and CommEx's launch has sparked interest in the local crypto community. Binance has declined to comment on CommEx's founders, and CommEx is focused on platform optimization and stability. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; Crypto analyst Nicholas Merten warns that Cardano (ADA), XRP, and Binance Coin (BNB) could experience significant market corrections due to declining liquidity. Merten predicts that BNB could decline by over 38%, XRP could collapse by 70%, and Cardano could drop by more than 37%. He highlights the importance of liquidity in determining the direction and price performance of cryptocurrencies. Ethereum is also mentioned as being stuck in a bearish cycle since April 2023. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

craigmorris78

Useful reminder. Not a fan of BNB as eg of scalability. Is there another example you’d give?

RUBEN4iK

I use Binance. 2% back, but have to hold 1 BNB. With recent Binance FUD news.. don't know if it's a good deal anymore..

conceiv3d-in-lib3rty

Are they going to accept the payment in BNB? I mean that’s how they pay everyone else. Lol.

dead-spiral

Today I found out that BNB stands for "Build'N'Build".. lol I've always called it centralized crap to abbreviate so I really didn't care much for its meaning.

coinfeeds-bot

tldr; Binance's Japan unit is collaborating with Mitsubishi UFJ Trust and Banking Corporation (MUTB) to develop stablecoins in Japan. The joint study aims to issue stablecoins pegged to sovereign currencies like the yen, complying with local laws and driving Web3 adoption in the country. The initiative is supported by MUTB's Progmat Coin platform, which plans to issue stablecoins on private and public blockchains. Japan's new stablecoin rules and its embrace of Web3 create favorable conditions for this project. Binance Japan still needs regulatory approvals before issuing stablecoins. The study explores the deployment of stablecoins on multiple blockchains like Ethereum and Binance's BNB Chain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

0xjoel

Same way with BNB hahahaha 😂😂 They might evaluate and run up with the way BNB did Buh starting with a rugpulls and shit coin mehn not gonna lie aren't a good way to kickstart

0xjoel

I honestly told one of my friend this They are gonna follow in the step of BNB

12otomakanihsotas

Base seems like a young American BNB at this point.

WineMakerBg

According to a post the firm shared on the microblogging platform X (formerly known as Twitter), some of the accepted cryptocurrencies also include Ethereum ($ETH), Binance Coin ($BNB) and the meme-inspired cryptocurrency Dogecoin ($DOGE). Adoption, here we come!

iheartzombies8

Should we be shorting BNB, with all of the bad news going around regarding Binance? Just a thought

No_Engineering18881

Stablecoins exist for something I think is just unpractical crypto is pursued and treated like a delusion that scammer have, SEC plays a major part in it. If today I proposed to pay my rent in USDC or BNB there is no way he would accept he would even think I was trying to scam him and if I proposed and explained Monero think he would call the cops

TarkovRedditor

No but honestly if you think BNB collapses it’s probably better to short fragile alts since everything will go down and they’ll suffer almost equally. Shorting BNB can get you caught by CZ‘s cartel

pomegranatepunchline

Are you suggesting that we should short BNB? Ser, is this financial advice?

infested33

I thought BNB had a chance but recently with all the binance FUD i dont see it happening.

Affectionate_Hand_76

3 BNB . I googled pancake swap and it was transferred to some other wallet.

loksfox

tldr The article suggests that while Binance may have a strong argument that its Binance Coin (BNB) is not a security because it is a utility token used to pay for fees on its platform., it is ultimately up to the SEC to decide whether Binance's BNB token will be classified as a security or not. If it is deemed a security, Binance could face significant regulatory requirements, fines, and potentially even legal action from investors.

inShambles3749

Probably be a shittoken ontop of BNB xD

Lordofthewhales

ETH will flip BTC before it loses 2nd place. It's much closer to BTCs market cap than the next non-stable coin BNB

MericaGuy

It was... These forbes opinion pieces are always full of fluffy words and empty predictions. Like, they just pulled mentioning XRP and BNB out of their ass, and microsofts leaked plans won't be ready till 2028 if they haven't changed them by now...