/biz/ - Business & Finance

It's over

Shalom

>>52844303
yes

I saw this shit and rushed to convert 2/3 of my stables into Tether.
I don't like tether at all but Binance is scary at the moment.

>>52844340
I also moved the tether to metamask instead of TrustWallet.
If I can't trust Binance I can't trust their wallet either, I hope this all proves to be just fud.

>>52844303
who's this faggot and why can't he elaborate

Why the sudden change though? Why is it less safe then a year ago?

>>52844354
dont even trust metamask. the seed they give you probably only works on mm (due to hd derivations...google it). go into metamask and get the actual private key of the address too. at least that is universal.

>>52844354
It's always better you act now and then it turns out to be a FUD rather than doing nothing and losing everything.
The risk-reward ratio is too much atm.

I just can't comprehend there are retards out there who still place their funds there just because "if Binance fails then the whole crypto die"

incredibly jewish profile picture

but generally not a bad idea

>>52844330
YAMEROOOOOOOOOOOOOOO

>Chinese police arrest 63 people accused of laundering $1.7 billion in cryptocurrency via tether stablecoin
https://markets.businessinsider.com/news/currencies/cryptocurrency-china-police-arrest-money-laundering-tether-investigation-crime-gang-2022-12

>>52844386
You mean the 64 digit code?
If yes, I have that already copied, I almost lost my wallets once because their phrase seed just saves the first 2 wallets, I only recovered my wallets because I had a backup from the entire OS.

>>52844390
Thanks bro, that's exactly what I think.
I have to wake up in 4 hours, but I am happy I lost some sleep to prevent myself from losing everything.
I really hope it is all a fud, I want to buy crypto cheap, but not too cheap, besides Binance is quite useful.

Thanks anon. Got it done. The guy on twitter is also doing some interesting update tweets. Fuck binance.

>>52844405
should have used monero

>>52844303

Why though?

What happened?

>>52844379
A year ago no one would have believed that FTX would go bankrupt.

More than a year of crypto bear market, a year of recession to come, no company in crypto is safe.

>>52844504
>No one
I did you retarded crypto shills didn't

>trying to kill the biggest cex
This isn't going to end well

>>52844522
Mass withdrawal won't kill Binance unless it's doing fractional reserve, and if by chance it does fractional reserve then it deserves to die and the whole crypto ecosystem is better without it in the first place

>now the narrative is whole crypto ecosystem is better without CEX

2 weeks

>>52844566
that's literally the way it always should have been

>>52844566
Always has been, nigger
Go back fucking tourist

>>52844405
Big if true

>>52844570
>>52844303
You faggots fudded me out of my bnb
If I don't get to buy back in lower with your fud I'm going to be pissed

>>52844566
>imagine unironically defending a motherfucking literal bank
How low biz has become

>>52844592
Seriously nothing is going to happen just a bunch of scared faggots once again

ya'll made me move half my funds to a local exchange which doesn't offer leverage or fractional reserve bullshit

the other half remains in my margin account

>>52844303
>mfw I am now forced to liquidate and withdraw everything from binance because jews like this are stirring up a bank run
God I fucking hate twitter normies. Anyone who's done more than 10 minutes of reading into how or why FTX went bust can clearly see that binance is not going to fail in the same way.
If binance fails it'll only be because of a manufactured bank run. ANY bank or exchange would fail if EVERYONE tried to withdraw at the same time.

>>52844386
Wrt to seed derivations, it's fine. What you say is sort of true in the sense that different derivations don't produce the same seed. But Metamask uses a commonly used standard.
Off the top of my head I want to say they use BIP 39 as the method. But I'm not 100% sure.
Either way, nothing to worry about with Metamask in terms of your seed.

If Binance goes down, its over for Crypto for a very long time (im talking 10+ years) Binance is whats holding everything up.

>>52844303
We all knew this day would come.

>>52844671
Yeah, great decentralized, economy, eh? :>

>>52844671
Stop being a nigger newfaggot, chinknance is doing what? 50%? 60%?

>btc
>crypto
ftx didn't send their best huh

>>52844498
I heard on Twitter Spaces earlier that Mike Alfred is FUDing the market as hard as he can since he wants to start his own Bitcoin fund, and buy Bitcoin for as cheaply as possible for it.

>>52844693
Not even. When looking at the CMC 24h volume, binance accounts for 30%

>>52844556
The chad using your own shitcoin as proof of reserves vs the virgin clandestine fractional meme

>>52844566
monero, wins again

>>52844303
He's right. Smart people already took their funds off binance.
BTC is dead shit.

>>52844671
keep coping, we'll bounce back in 2 weeks

DEXes will always lose to CEX. CEX has convinience. Plebs and normies will rather pick that even if it means high chance of getting scammed. If crypto recovers from this Binance rug pull, there will be a huge power vacoom for another CEX to fill and restart the scam process.

>>52844645
No fucking shit this is the whole fucking point of crypto, not your keys, not your coins. How fucking hard is it, seriously?

Sorry bros, the part is over. It was great while it lasted.

>>52844566
BSV doesnt need a CEX sneed.

>>52844819
Haha he's playing into the fud. So then he can laugh at everyone later

Gotta love cz

>everyone believes ze binance FUD
>sells everything into Tether
>Tether is inevitably the one that collapses
>retards lose everything
This is what is going to happen.

>>52844879
Yeah, the problem wont be binance but some stable fuck up

the creation of stables were the end of crypto

>>52844857
>h-he's just kidding right? r-right?
NO REFUNDS

>>52844693
0IQ tier comparison, when mtgox imploded, total cryptos' MC was worth like 4 billions.

>>52844713
>i heard from this delusional schizo bagholder safe space

>>52844819
wtf is a PAX

>>52844789
>been dumping for more than a year now.

>>52844303
>this is how bitcoin dies.
GTF outta here sambafag. Been long my stables are out of Binance to ledger but still do my stakings there and farming through SpoolFi.

Store on cold wallets and interact with DeFi or CeFi protocols.

>>52844879
It's not so much that everyone believes the binance fud, it's that everyone believes everybody else will believe it. It is far more pernicious, but the end result is the same : bankrun.
This entire situation is really outlining the current confidence crisis.

>>52844303
You've been warned, don't cry about it later.

>>52844936
This. Feels like the same fud as the last bear market. In 2018, Binance and USDT were targeted similarly by fud and paranoia. Not sure what makes this time different.

>>52845016
Past doesnt equal future. Keep rationalizing. Keep risking money you cant lose. Binance is likely going down. I cant belive you retards. There is a 20%+ chance of some bad shit happening and you are still dreaming of crypto gains. Stupidity and greed are lethal.

>>52844660
>different derivations don't produce the same seed.
Keypairs* Different derivations don't produce the same keypairs. Seed is not derived from anything, it's entropy and keys are derived FROM it.
>But Metamask uses a commonly used standard.
True, but they could do better. They don't follow SLIP-44. They use Ethereum's coin type value of 60 for everything and don't allow custom derivation paths. This causes confusion for people who use other/custom chains with different standard derivation paths and want to import/export their wallets.
>Off the top of my head I want to say they use BIP 39 as the method. But I'm not 100% sure.
In addition to BIP-32 and BIP-44. BIP-39 isn't really about derivation paths, it's about converting standardized words into a binary seed.
>Either way, nothing to worry about with Metamask in terms of your seed.
Yeah like we like to say in nu-crypto: trust, don't verify. Taking time to understand seeds, derivation paths and keypairs is for math nerds. Just let the app do it for you. --- but yes he's safe, he'd just worry less if he understood better and metamask was clearer with derivation paths.

>>52844566
well yes actually lmao

Binance is fdic insured

>>52844671
itll be forgotten in a year.

>>52844645
I’m not withdrawing
Binance isn’t overleveraged or using a 2nd fund to increase its profits, because compared to FTX, Binance actually makes insane money from fees alone, basically if you take Alameda out of the equation, FTX was making a fraction of what Binance makes from trading fees, let alone the money they make from their Earn program, the money they make from their BNB shitcoin chain, the money they make from staking ETH and other revenue sources
CZ is shady, but he isn’t retarded enough to put at risk one of the most profitable ecosystem he’s built over an entire bear market, and soon to be 2 bear markets now

>>52844574
no money would be made without the influx of normies

>>52845070
How deep did you have to go to pull that 20% chance out your ass. Realize that some people have a higher risk tolerance because they have actually done their research and spent time in the space.

>>52844504
this board did

>>52844303
Who is this faggot

>>52845070
Binance is not going down you fearmongering pussy just kys already

>>52845239
I dunno about that.. It's obvious [they did fail their audit after all] that Binance doesn't have it's customer funds backed 1:1, they employ some kind of fractional reserve system and "most likely" have an overreliance on BNB as the reserve.
Maybe their risk management is sufficient, maybe it isn't..

>>52845446
You did that because you are retarded. Soon you will be left with nothing, no skills to show for, and a huge gap in a resume.

>>52845460
No, you kill yourself. Which you will consider, very soon. Once your imaginary shitcoins go to waste.

>>52845537
*yaaaaaaaaaawn*

>>52845130
>>52844386
Where can I find the private key on metamask?
I only know how to find my seed phrase and wallet address. I'm not even surw what a private key is despite having googled it. No matter which wallet I use, I only ever see an address and seed phrase, never a private key.

Cool story bro, just deposited another 100k to Binance.

>>52845537
BRAAP

alameda kikes SEETHING

>>52844303
If binance collapses everything collapses, I'm going down with the ship, the kikes won't stop me.

>>52844303
Who?

Fucking imbecile he thinks he's doing research I bet you he thinks he's working by browsing this and conducting his research what are retard you are in for a rude Awakening kid. Where is soon you will realise that you have nothing nothing to show for no job no skill no money. All your delusions will be revealed and since you are retarded you will come back here to check what's going on because you are an imbecile lacking any sort of personal initiative and when you come back you I will be waiting and I will not be comforting you I will just give you the Rope to end your misery

>>52845645
who raped you?

>>52845571
https://metamask.zendesk.com/hc/en-us/articles/360015289632-How-to-export-an-account-s-private-key

>>52844498
shorters trying to instigate a dump

>>52844303
thanks sam now fuck off

>>52844671
>meme chink exchange holds up meme industry
wew sounds like an absolutely fucking shit 'new paradigm' lmfao

The only remotely safu platform is coindesk

>>52845526
They never failed an audit, it's just the one they did may not have been ideal

>>52845645
Lay off the Adderall Caroline.

>CZ just trading billions of dollars via arbitrage between USDT and BUSD.
>All he needs to do is change up the narrative and peoples fears open up huge opportunity to print cash.

just deposited 10,000 $ into binance and opened longs fuck you fudders, pathetic try which you failed immersively well

>>52844514
yet youre still a wage slave faggot who has to ask your boss permission to keep eating every day arent you, you didnt retire from shorting. congrats I guess

>>52844645
A bank run only works on jew banks that keep lending out the same money over and over

>>52844819
kekekeke

>>52846220
thanks for your free bux. binance to zero

exit binance, go all in on NYSE: gme

>Binance dies
>opportunity to make a fortune shorting BNB
I'm ok with this

>>52844671
Binance would be replaced by another CEX almost immediately.

>>52844386
I've tried it and importing the seed phrase in all kinds of different wallets work.

>>52844920
Maybe dumb question, but how do you put stables on Ledger? Do you have to install USDC for Ethereum or BUSD for BSC separately after installing the Eth/BNB app?

>>52844645
This. Just ignore FUD bots

fuck Fed
and fuck CDBCs

tfw i dont even know how to move my coins to cold wallet
tfw i dont even have a cold wallet
tfw i dca $1 daily and the graph still shows me losing money every single day
seems like im one of the npc that is designed to hold people's bag for them
feels bad being this stupid
so anyone wanna tell me how do i move my coins to my cold wallet without jumping through a bunch of retarded hoops?

>>52847118
>dca $1 daily
Where in India are you from?

>>52846894
Ultimately, we'll see private DEXes becoming the standard for trading.

>>52844778
Normies will choose railgun over it for anonymity. No doubt, smart people will prefer to keep a private balance of their coins without swapping it into monero

>>52847118
>$1
kek'd hard

>>52844376
if you're smart you'd know he doesn't need to. is it a crypto exchange? yes? then it's a ponzi scheme

>>52844693
you have to consider it relative to price and total supply.
even 10% would be enough to trigger the scam on today's supply back when the price was $30-$60k.
for five years, total transaction value has only climbed higher every single month, despite the coin price collapsing recently. 10% transaction volume in 2018 would be a mere $21M but today it's $79M or four times that. you're talking about someone being able to walk away with five or six times that versus seven times that -- that's retarded, of course he would consider it. not a single one of them earns even $10M for themselves overseeing these exchanges.
unlike allegedly "overpaid" CEOs, these exchange warlords are not compensated properly for the amount of real money, US dollars, they oversee moving around. a real CEO can earn $10M every single year, in fact, because they oversee the flow of literal billions of earnings every QUARTER.

>>52844303
is this the same edgy retard that said kucoin is about to go under?

>>52845890
>a /biz/ meme from 2017
>screencapped from a twitter literallywho in 2022
this place has fallen so far
i don't know why i still come here. just to suffer?

>>52844908
>t. literal retard

>>52847593
> cuckcoin
Is this real?

>>52846514
I’m not a wage cuck and I knew FTX was a ponzi and the bankman crime syndicate was working for shady actors
This entire board knew sbf was a conman and his entire story was fake.

>>52844671
>Binance is whats holding everything up.
Send it all to hell. If we’re relying on Binance to prop up this ponzi industry, then it should collapse. Bitcoin and ethereum don’t need binance to survive

>>52845460
Cope

>>52844303
... how do you buy the bottom without having money on exchange?

>>52844570
How does Justin Sun have all this money!? Where the fuck does he get it from?

>>52845621
Retarded mentality with faulty thoughts. If Binance sinks, my assets are already on ledger, I can float with Coinbase or invest my stablecoins via SpoolFi.

>>52845571
Why don't you make a new wallet (not mm) and send your funds to it from your mm wallet. Metamask is centralized wallet.

>>52844303
>bitcoin dies.

All CEX's dying is unironically bullish for Bitcoin.

>>52847191
Quite interesting how much attention privacy is getting these days.

>>52847846
ccp

>>52844469
Totally retarded to assume that privacy solutions are exclusively relevant to launder money and engage in other illegal acts.

>>52844303
spot the shorter 101
>is gay
>posts fud on twitter

>>52846939
It's freaking complicated. Why can't you have all wallets in a single and universal account where you can access them

*brrrraaaaaaaaaap*

>>52845571
Quit wasting your time and making things simple for yourself using ore id

>>52844303
.... soo the XMR chuds might have been correct about Binance.

>>52847822
>Goldman Sachs closes Kanyes Account for being "unreasonable"
No headline ever

I CAN'T WITHDRAWAL MY FUNDS?????? I THOUGHT IT WAS A MEME???

>>52847889
This image is gold
lol

>>52844303
This is jews trying to get revenge on CZ, isn't it?

>>52849050
yes, it seems like coordinated FUD

>>52848855
the unfortunate truth

>>52846557
>bank runs only work on banks that lend money
What do you think a bank is?

>>52844354
>I trust metamask more than binance or trust wallet
fucking kek you fud sisters don't even get what you are saying
just deposited 10k onto binance

>>52844303
zero proof gay fud but I'm from Ontario and banned from binance so do the needful and trade at dydx so my market making bot can have more liquidity plus it's a dex so your keys = your corns

what even is a fucking stablecoin what the actual fuck is it supposed to be?

>>52844566
Yes, but replaced by glowDEXes

>>52844303

It's over. Remember when SBF made fun of CZ "is he allowed to go to DC?", he snitched on CZ.

Looks like you fags won't survive the bankrun
WE DID and WE ARE STILL LIQUID

>>52844592
binance fud is really fake to anyone that has a jewdar

weak jewish fud people who fall for it deserve it i guess

>>52849184
>coordinated FUD

>>52844819
>banking stops after work hours
Make sure to get all your banking in by 5 pm anons

>>52844819
fuck that swap everything into BUSY

>>52844566
Checked
About time, been using kyber swap the last 2 years and never went back to CEX for crypto to crypto transactions
Still use that fiat on ramp though

Finally it's over

>retards cashing out into Teether
>not getting out and cashing into Fiat and make some profit
Retards all of you

>>52851217
Dont understand it either, why sell and withdrawl, either withdrawl the crypto or withdrawl fiat wtf

>>52848855
https://www.coindesk.com/layer2/2022/10/13/jpmorgan-closed-kanyes-account-yes-theres-a-crypto-angle/

>>52844595
>dozens of exchanges going bankrupt one after another
>FTX, backed by huge institutions a giant ponzi
>don't worry, this shady chink run operation (which has no real HQ) is different!

At this point if you lose money in Binance you deserve it. Same with the other 100 that have gone defunct recently.

>>52844688

>>52846220
Thanks I just withdrew 10k

>>52844920
>>52845446
>>52845239
>>52845460
You are emotionally attached to your investments. This will lead to your ruin

>>52845239
Their main "reserves" are BNB, a coin they printed out of thin air.

>>52855138
cryptards really trying to sweep this under the rug

>>52855138
>Their main "reserves" are BNB, a coin they printed out of thin air.
How is this legal lmao

>>52844566
Yes /pol/tard tourist, that's what we want

>>52844340
>Binance isn't safe but Tether is

uhhhhhh

>>52844303
You fucking dummies understand that this has been going on since 2019 and right now it's CoinMamba organizing FUD on crypto twitter cause he literally gave out his API keys and got his shit stolen, than threatened CZ and got his account locked

>>52855324
>Their main "reserves" are BNB, a coin they printed out of thin air.
>How is this legal lmao

BUT WHEN THE FED DOES THE SAME THING IT'S FINE, RIGHT?

>>52855138
The BNB are mostly user assets and accounts to like 20 percent. Every coin is minted out of thin air, but BNB actually powers an entire chain of jeets

>>52844303
Crypto will never die but rather it becoming a payment across the globe.
Many real estate, car showrooms, apparel stores, even grocerie stores are accepting crypto as payments.

>fuck off anon

>>52845571
All these complexities is why identity management protocols are the best for managing wallets. They don't let you bother at all about seed phrases on multiple wallets and chains

>>52844303
bitcoin died when it failed to adapt.

this was by design though, they did their mass surveillance CBDC trial run and now will enact CBDCs into the world.

>>52845621
Binance collapsing is going to be really catastrophic for crypto, which I really don't see happening. But you shouldn't have all your funds on a CEX where you have no control of your keys.

>>52844303
>>52847857
People ask me why I trust coinbase over the others. I just say its not being run by a jew, nigger or a chink/gook/dink/zipperhead. thats it.

>>52855998
CBDCs and government regulations are just some of the reasons why privacy preserving protocols and solutions are needed in the crypto space

imagine crypto survives a bankrun, its the ultimate test

>>52844303
>doomp eet

>>52855951
Without proper privacy solutions, it just might die. I can't imagine paying at a grocery store with crypto, when that txn and all my other txns can be monitored and tracked by anyone.

>>52844340
Tether will fall before Binance, get your fucking money out of crypto if you are on +, dont be greedy

>>52844671
It's actually the opposite. Binance is the top dog on Cexes with Coinbase being second in rank but way inferior both on volume and usefulness..But they both know that they are entrenched so hard that nobody can dispute them unless they fuck up on purpose. Now they have the defacto monopoly as the normalfag on ramp to crypto..Goybase in the US and somenYuropoors and Chinknance for the rest. They don't have to exit scam, just by existing right now it's literally free money for them. The problem lies to the other exchanges that are doomed to be losers forever if they are legit ( Bittrex,Kraken,etc) or to scam they way up ( FTX, Scamcor, Celsius). The even better part is that they can cater to normalfags with impunity while simultaneously recognizing ( and encouraging) DEXs so they can say they don't have a monopoly,but let's be honest most normalfag don't even know what a command line is, let alone knowing basic opsec and actually enforcing it. Like it happened with Vidya, the OGs will be pushed aside with the normalfags surge, unlike Vidya though they will buy our bags happily and make us rich, it doesn't mean that a part of that process doesn't sucks balls . It's the way of life, eventually somethint else will trigger our autism and we will move along to be left alone to our own devices until someone starts saying " Lol, check out what those nerds are doing' . Then the cycle restarts.
War never changes

>>52847789
>ethereum don’t need binance to survive

>>52844379
it wasn't safe a year ago

>no one tries to start a bank run
we've already been over this with LINK
funds are safu

>>52857576
you know they're safe because safu is a funny way of saying safe

test

>>52844303
>I have an opinion
Ok

>>52855394
This1

>>52844688
What is that a facial expression? What does the V-shaped smile convey?

>>52847191
>>52848228
>>52848287

>>52857966
>>52857983
Holy shit IDs are fucking worthless. Both these comments are mine.
1 short tap on airplane mode and you just get a new id
All binance fud could be just one guy flipping airplane mode on and off ad nauseam to make it seem like it's several people.
What a bunch of bullshit

I have 13.5 BETH on binance. Fuck you

>>52847118
I dca $2 daily

my only crypto holding is xmr and my balance is in my wallet, should I care about this?

either way it was only a matter of time until ethereum flips boomercoin with the help of polygon the index of all eth scaling solutions, making the network cheaper and faster for devs and users

>>52844303
>Alfred

Did /biz/ really become nothing but FUD threads?

I withdrew 100 LINK into my Aussie exchange. Binance said it would take 12 hours and its pending review or something, but it went through in about 15-20min. Phew. Sending the other 5000 through today.

>>52844303
>twatter

>>52858539
The exchange is fine, the only “pending withdrawal” threads are usdc/fiat withdrawals and for good reason, since binance has to knock on the bank for on-hand liquidity
You’ll be depositing your shit back in a week

>>52844376
A former FTX representative

>>52858971
I'm a brainlet/lazy/risky, I've had up to 500k LINK (in Au dollars) on Binance for years. I think I'll finally give myself some time to come up with a cold storage method, all these years I've been too scared I would forget a seed phrase or something.

>>52846220
Thanks for playing

Imagine buying cryptoes

>>52858109
You shouldn't, you are holding the only coin supported by physical goods.

>>52844303
>kvetching fud campaign
funds are safu

>>52856640
No one knows who is transacting and what was bought besides you and the store. It is a private transaction, just not a completely anonymous one.

Well this thread didn't age well.
Like 98% of threads on /biz/.
And everyone was shocked.

>>52844303
With thunderous applause. LFG.

>>52855394
Coinmamba is pathetic lmao
Using his barely existant CT clout to get special treatment

>>52857477
Binance hedging its bets by being ‘decentralised’ with BSC giving BNB legitimacy was genius IMO

>>52844330
why are the days of the week wrong?

>>52844340
Good... good goy

lot of newfag retards in this thread and now that I've posted i'm one of them. at least all my shit is in a paper wallet buried in a safe cemented under my home. so I guess i'm not that retarded

>>52860141
Look who fell for the obvious bull trap.

>>52860141
>Well this thread didn't age well.

?? Binance didn't collapse

>>52844354
Exchanges are always at risk, fud or no fud. Trust wallet has always been a first choice. Nothing beats a non custodial wallet.
Started using CryptoXpress app recently. I can stake there too, so a win.

>>52844390
I don't see crypto dying tho. This fud will blow over. What I see now are more developments both on metaverse and also for payment solutions. Crypto space generally I dare say.

>>52860249
Timezones

>>52860399
look who missed the bottom.
ngmi.

>>52858006
It's a nose

>>52844303
I don't hold shit on Binance except a few hundies on the card, but now suddenly these ex-FTX shills are coming out of the woodwork to FUD an exchange which has been processing billions in withdrawals without hickups

Basically Scam Bankrun-Fraud's buddies are trying to create a bankrun on CZ.
Lets see how it works out for them.

>>52844303
>centralized exhange dies = bitcoin dies
Huh?

>>52860086
Maybe no one knows what you bought, but without privacy solutions, your wallet addressed can always be linked to you and even your balance estimated. It places a target on people's backs, especially those with huge bags.