BNB looks like it has been up the last three months. I have been reading Binance Coin a lot lately, what's the deal with this coin? Is it the latest craze?
It is one of the few coins actually backed by something. The coin is tied to the profits of the Binance exchange, likely the most profitable exchange in all of crypto. Plus they are finally moving the coin off the Ethereum chain and onto it's own.
Good question, it is anticipated it will increase in value. I am not so sure. I think more competition will eat into Binance's profits. Right now they have a kind of mote around their business. I don't think that lasts forever.
What coins did you lose big on lately?
Steem, XRP, BNB, and EOS all taking it on the chin the last two days while bitcoin is up double digits.
"Normally" during times when bitcoin was up 10%, many of the popular alts would be up multiples of that. Not flat, let alone down...
BNB looks like it has been up the last three months. I have been reading Binance Coin a lot lately, what's the deal with this coin? Is it the latest craze?
It is one of the few coins actually backed by something. The coin is tied to the profits of the Binance exchange, likely the most profitable exchange in all of crypto. Plus they are finally moving the coin off the Ethereum chain and onto it's own.
By now, with that business-model and market volume should BNB coin stay "stable" or increase in the future.
Good question, it is anticipated it will increase in value. I am not so sure. I think more competition will eat into Binance's profits. Right now they have a kind of mote around their business. I don't think that lasts forever.
If their keep developing, focused on their customers needs and hardening their markets, they should be weaponize for future competition. For now!
To the generally deployment, we will often see that a today sucess or big player, will not be competitive anymore with further innovations.
So, fasten your seatbells, **We are just starting! **
Yep. Coinbase made over a billion in 2017. Now they are laying off staff... it changes quickly.