I’ve been watching a youtube videos by techlead. https://www.youtube.com/c/TechLead. In one of his videos, he talks about crypto billionaires, and how they made their fortunes. It’s no doubt that Crypto exchanges like binance and kucoin have many users everywhere.
Do you believe that binance has a chance to take over the number 2 spot with all the problems ethereum is having right now? They haven’t been able to improve anything on the technological side other than being a forerunner in this space. Have you checked the fees to send crypto using binance smart chain? I sent 30 bnb from metamask to binance for 0.000105 bnb which is equivalent to 5 cents at today’s price. Yes, a Nickel, a good old Thomas Jefferson. This is crazy.
Also, I believe if Kucoin also comes out with their own smart contract, their coin is going to go through the roof just like Binance. I believe it’s a matter of time. There are so many different projects out there with so much potential. It’s so hard to pick them and do research, so I just decided to stick with exchange tokens haha…
And yes, I do hold both BNB and KCS. It would be great to see what others may think.
I have a definite opinion, I didn’t watch the video.
When ERC20 made a deal with Binance to create the BEP20-25 they shook hands with their Devil.
Yes, It allowed ERC to explode. And in the beginning it was mutually beneficial to both groups. The foundations of the two groups split in my opinion based off of Binance being an actual company that has to adhere to the minimal amount of financial ethics or morals and ETH foundation being able to scam or steal with anonymous impunity. Through 2021 I watched both groups pump out tokens, the big difference was the requirements BEP forced coins to adhere to which was more physical or tangible than ERC20’s requirements of X amount of ETH and $325 bucks worth of ETH fee.
They started as partners, now still friends are direct competitors.
This deal I speak of is what changed BNB, from $10 to $500.
I do believe BNB has a viable bright future. The same way ERC pumped out tokens and capitalized on them for Ethereum’s benefit I see BEP/BNB doing right now. The big difference so far being BEP tokens (the companies/ideas themselves) have a much better chance of being viable investments to new crypto investors. Like comparing SHIB/ERC to KAVA/BEP. Kava’s a real company with a plan that has to legally produce, where as SHIB is a 3-5 part token/foundation creation that uses fake value to create real value with smart contracts. KAVA will obviously benefit BEP/BNB more than SHIB could benefit ERC/ETH .
Two “rules” I trade by are that 1. A coin/token/company must make a Bitcointalk announcement and 2. they host downloads on GitHub . Those are semi-outdated, I’ll explain. ERC’s all share the same wallet and have no blockchain CLI or user interface. What I used to require as “github” ERC use’s Apple/google to verify (no longer open source/decentralized). And since they’re tokens, most skip the Bitcointalk announcement. Those 2 rules used to be red flags for a scam. BEP recommends it’s Token applicants make a Bitcointalk announcement, I view this as an attempt to be honorable.
Small differences matter a lot. I don’t have an definite opinion if BNB could reach the #2 spot. Anything could, and they are definitely in the position. A big factor I see is the other ERC competition, LUNA , SOL, AVAX and others. While these other companies may have started with a PR campaign claiming to be ETH-killers most have ended up in the ERC web themselves under V2 and V3 Smart Contracts through ERC , POLY and the whole “cross-chain” thing that is currently occurring on numerous blockchain networks.
There is also a new/modern divide with Cross-chaining, BEP and ERC both have their own version and in some ways even tie to each other. While this could help either / or , I think it might help ERC more overall.
Then … ETH2.0 … God only knows they probably have astrophysicist level mathematicians calculating how to scam the world out of septillionths of fractions of satoshis. Never underestimate the success of cheating.
As far as comparing Binance to Kucoin. That’s a pretty complex topic. I’ve already typed enough. Lets just say, I think they are ying and yang and have the same founding investors. I would have a harder time proving they are not the same company than I would proving they are directly financially tied to each other and are complicit in fixing each others prices (for honorable reasons). (The Liquidity Club, formed by the 2, most people don’t even know it exist, AMM’s are the Smart Contract version)
So rather than compare models, in reference to KCS / BNB, I think we need to look at it as different parts of the same model. They compliment each other, not compete. I can prove how KCS has direct success due to BNB, and vice versa. Kucoin is the #2 host of BEP with many tokens and benefits of the BEP chain only applying to those two exchanges.
Based on my not so professional research lol, exchange tokens (big ones of course) are going to surge during the next bull run. Binance CZ is worth over 50 billion dollars, and he’s made this money in the past 5 years. As more and more people come into this space, they will be using big exchanges like coinbase, ftx, binance, kucoin and etc to start their crypto journey. It’s always the people that sell the shovels that make the most lol just like how bitmain and especially goldshell are raking in millions of dollars
Here is the thing though. I don’t want to invest in every single web3.0 crypto projects since I don’t know which one is going to explode in the future. Not only that, it’s going to minimize my profitability because I’m spreading out my .
I figured it’s best to stick with quality crypto exchange tokens since they are the ones really making profits on a daily basis. Everything else is just speculative play in my opinion.
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