Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Binance Coin (BNB) => Topic started by: AMANPURI OFFICIAL INDONESIA on April 06, 2019, 03:52:20 PM
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Former Coinbase employee and founder of 1confirmation, Nick Tomaino, believes Binance Coin (BNB) is the best altcoin to short right now.
Binance’s competitive edge comes from its minimal know-your-customer (KYC) requirements and trading limits, along with aggressively adding new coins consistently. This is what has allowed the world’s largest cryptocurrency exchange to have a 40 percent market share in just two years.
Does this mean that Binance Coin is a good long-term investment? According to Nick Tomaino, not really.
https://twitter.com/NTmoney/status/1113929659488411648
The Case Against Binance Coin
In a recent tweet storm, Tomaino lays out his case why Binance Coin’s long-term prospects are not looking too good. He bases his case on the fundamental assertion that Binance has not really pushed the space forward in any meaningful way — with the UI/UX being “worse than many decentralized exchanges.”
Binance Coin (BNB), being a product of a centralized company, should give true cryptocurrency proponents some pause. The bullish case for BNB relies on either believing to Binance will continue to grow or successfully transition to a decentralized exchange model that will be widely used. (Keep in mind that expanded growth will require fiat onramps and institutional investors on its exchange.)
Tomaino admits that if Binance is able to pull off the creation of a DEX, he may be proven wrong. However, he still asserts that investing in a coin with over $1B market capitalization for a product which doesn’t exist seems like a high-risk bet.
He also points out that BNB, unlike other cryptocurrencies, does not have a legitimate community. It doesn’t stand for much, other than making money. It is a community of believers, Tomaino says, that gives cryptocurrencies value in the long-run. It is on these grounds that those BNB holders will just move on to the next money-making opportunity, in due time.
Other prominent analysts, however, have different opinions.
https://twitter.com/NTmoney/status/1113929659488411648
source : https://beincrypto.com/shorting-binance-coin-might-be-a-good-idea-keyword-might/
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I think this also depends on the scheme that is carried out by the hodler of the Coin Binance because the truth is that cryptocurrency cannot be guessed at the price, so whether it takes a moment or a moment in the Coin Binance hodler it will definitely have a different effect on prices.
May I suggest to continue to look at the price of the Binance coins once every hour in the market because according to Coinbase Former namely Nick Tomaino also think like that.
But, don't expect too much from the coin Binance because every day is always changing and it is difficult to be left out of our sight.
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Even famous people like Nick Tomaino believe that this Binance coin has an extraordinary ability to grow in the future.
Binance coins are able to compete with other altcoins such as Bitcoin Cash and Ethereum.
Binance also has more advantages and attractive features for its users.
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"Might"
That's probably because Binance is also an unscathed coin.
Where Changpeng Zhao can sell Binance coins to the market easily without seeing the other communities that support buy orders for Binance.
But I think for now that "Might" has been eliminated because Binance now has a huge capitalist market and it's been tested on Coinmarketcap.