Bitcoins - about to hit $5,000 per coin today!

[gib]

That analogy doesn’t really hold. BNB isn’t just a “stock” — it’s the native token of a full smart-contract blockchain (BSC), with ~$14B in stablecoins and major DEXs like Aster and PancakeSwap. It has real on-chain utility, unlike Nvidia shares.

https://www.cointribune.com/en/binance-boosts-aster-whales-quietly-accumulate/
https://www.coinspeaker.com/aster-price-prediction-binance-founder-announces-1-billion-ecosystem-fund/
https://defillama.com/stablecoins/chains

Binance is the largest exchange in the world. BNB holders get trading fee discounts, it can be staked, and tokens are regularly burned. With roughly 7 BNB for every 1 BTC in existence, it’s actually more scarce than the current BNB:BTC price ratio suggests.

I think you are again (deliberately?) confusing concepts.

In my view, BNB really is akin to a company which has issued shares as an unregistered security. Maybe, in crypto-speak, a better term would be a "utility token". Either way, the point here is that it makes money, through trading revenues derived from the exchanges it operates, is used to pay transaction fees and access services within the Binance ecosystem etc. With Coinbase, you have listed shares trading on the stock market. With Binance, you have their token. In both cases, value accumulated to the share based on performance of the underlying business. Which is when assessing the value of either, you need to look at traditional financial metrics - revenue, growth, debt, profit, profit margin, etc. Coinbase could pay out, (or retain) any profit. With BNB, they simply retain the profit which is then reflected in the value of the token. As for "burning", this is akin to a reverse stock split or a buy-back. So, BNB can burn tokens. And Coinbase can buy back stock. Mathematically its the same concept. Which is why I explained, just because BNB trades as a "token" it makes no sense to treat it as Bitcoin. Of course you can compare relative performance, but it's like comparing the performance of Gold to McDonalds. Does not mean either are good of bad investments per se, but they are definitely not both metals, nor are they both fast food restautrants.

[obsidian]

I think you are again (deliberately?) confusing concepts.

In my view, BNB really is akin to a company which has issued shares as an unregistered security. Maybe, in crypto-speak, a better term would be a "utility token". Either way, the point here is that it makes money, through trading revenues derived from the exchanges it operates, is used to pay transaction fees and access services within the Binance ecosystem etc. With Coinbase, you have listed shares trading on the stock market. With Binance, you have their token. In both cases, value accumulated to the share based on performance of the underlying business. Which is when assessing the value of either, you need to look at traditional financial metrics - revenue, growth, debt, profit, profit margin, etc. Coinbase could pay out, (or retain) any profit. With BNB, they simply retain the profit which is then reflected in the value of the token. As for "burning", this is akin to a reverse stock split or a buy-back. So, BNB can burn tokens. And Coinbase can buy back stock. Mathematically its the same concept. Which is why I explained, just because BNB trades as a "token" it makes no sense to treat it as Bitcoin. Of course you can compare relative performance, but it's like comparing the performance of Gold to McDonalds. Does not mean either are good of bad investments per se, but they are definitely not both metals, nor are they both fast food restautrants.

Sommi (dude is hilarious) talked about it. Here's the transcript:

Uh, so Binance -- BNB Flying
BNB has been flying, but not for the reasons that you think. So, this is the Binance B&B chart. Something that you should note, okay, why is BNB going up? Well, Binance have a moat. A moat. You know friends, the water around the bridge to kind of protect you against outsiders. Well, you see Binance, they collect fees. But when you're, for example, trading the link USDT pair, remember there are two sides. All right, there are two sides, link and USDT. So, Binance are collecting fees from both sides. So over time they collect link and USDT tether.

Binance's Token Vortex
So for every altcoin listed on Binance, they collect the supply of the token for themselves. All right, it's kind of like a little buy and burn vortex. What do they do with the tokens? Well, it's up to them. However, what they have most likely been doing recently is so they've accumulated this war chest and will most likely spend it in the bull market like what we see now. So right now there are a lot of onchain snapshots shared around crypto Twitter which suggests that Binance is actually dumping a lot of tokens and rotating them into Binance BNB token.

So they collect everyone's Ethereum. they can stake it. They collect fees in Bitcoin. So, Binance very strategic now that the bull market's coming. They probably want they want to, I guess, take on Soy Lana.

Black Hole
They could be even dumping soy. So, you can see what ends up happening is they become literally this black hole of the exchange collecting fees. Okay? And um this war chest, it's accumulated for years. Now, how much is in their war chest, I don't know, for every single coin, okay? Okay. But it's interesting to think the higher altcoins go on their exchange, the more activity there will be and the more of a black hole they get. So whatever unicorn happens on Binance, the exchanges are winning and they get to basically that becomes their asset and they can always dump you to support their own, right? So that that does create a powerful castle mode for BNB.

This is CZ with two of the Binance Astro girls. Binance hiring female ladies I guess to try to take on Soy Lana. So that's why I've been seeing this chart. It's great. It is great. BNB BTC ratio. It's nearest 2021 high.

[gib]

All of this above you wrote about their business is correct.

By the way, I was once in a restaurant in Singapore with CZ a few tables away. He was in quite a focused conversation with the guy who became the new CEO. This was a few months before he went to jail. I wish I had gone to say hi now in some ways, but I didn't want to bother him at the time...

Also know guys who have been out on his boat. He seems like a nice guy by all accounts.

[obsidian]

Damn, WTF happened. I went to bed, woke up and later checked the markets.

BTC crashed to $106k, ETH $3.6k, BNB $1k, SOL $171, XRP $1.76! WOW. Looks like they all recovered a little. This was a major flash crash.

[Necrosis]

Damn, WTF happened. I went to bed, woke up and later checked the markets.

BTC crashed to $106k, ETH $3.6k, BNB $1k, SOL $171, XRP $1.76! WOW. Looks like they all recovered a little. This was a major flash crash.

Trump is fucking with the market again to make some money.

[obsidian]

Trump is fucking with the market again to make some money.

Well the market is fucking stupid to fall for it. Or they want to use that as an excuse themselves to dump and try and buy back cheap. The market is just as much to blame for the shit show as Trump. I am sure there's a few pathetic soybois panic selling, running around like a chicken with its head cut off.

[Griffith]

Some huge shorts were opened about 30 mins before Trump's tariff announcement.

[Necrosis]

Some huge shorts were opened about 30 mins before Trump's tariff announcement.

Shit is so fucking corrupt. the orange tart is clearly manipulating the market. Give it about a week and he will lift the tariffs. He will make money down and up.

[affeman]

Trump gib is fucking with the market again to make some money.

[gib]

Shit is so fucking corrupt. the orange tart is clearly manipulating the market. Give it about a week and he will lift the tariffs. He will make money down and up.

Yes, very true - all the insiders know before these announcements, make money shorting the market, and then the go long prior to the un-announcement. Easy money from Trump (who is a puppet of corrupt backers).

Still, he is far better for America compared to Biden / Kah Mah Lah combo. And one knows the big picture (money printing will only accelerate), there is easy money to be made.

[gib]

I have been hoping for a drop, as I love buying on these dips. I am annoyed as I have a long standing 106K buy on Coinbase, which didn't hit (despite the price apparently dropping to 104 on some exchanges...).

[affeman]

I have been hoping for a drop, as I love buying on these dips. I am annoyed as I have a long standing 106K buy on Coinbase, which didn't hit (despite the price apparently dropping to 104 on some exchanges...).

You probably already bought the "dip" at 120k and 115k (not that you would ever admit it). But feel free to buy the next "dip" at 110k

[Griffith]

You probably already bought the "dip" and 120k and 115k (not that you would ever admit it). But feel free to buy the next "dip" at 110k

Price is still a lot higher from here.

[affeman]

Price is still a lot higher from here.

That's what every fool is supposed to tell the even greater fool, that's what this entire game is all about.

[Necrosis]

Yes, very true - all the insiders know before these announcements, make money shorting the market, and then the go long prior to the un-announcement. Easy money from Trump (who is a puppet of corrupt backers).

Still, he is far better for America compared to Biden / Kah Mah Lah combo. And one knows the big picture (money printing will only accelerate), there is easy money to be made.

That view is psychopathic. Actual people are being robbed, 401ks being destroyed etc its not easy money its fucking stealing and fraud. Only someone who loves money above actual values and isn't a failed human being would see this as anything other then a horrible thing to fucking do.

Humanity is fucked.

[affeman]

That view is psychopathic. Actual people are being robbed, 401ks being destroyed etc its not easy money its fucking stealing and fraud. Only someone who loves money above actual values and isn't a failed human being would see this as anything other then a horrible thing to fucking do.

Humanity is fucked.

To each their own. If you don't wanna get robbed, don't "invest" your hard earned money into some ridicolous bullcrap with zero intrinsic value and no utility except for making others with enough leverage to manipulate the prize richer.

[GymnJuice]

That view is psychopathic. Actual people are being robbed, 401ks being destroyed etc its not easy money its fucking stealing and fraud. Only someone who loves money above actual values and isn't a failed human being would see this as anything other then a horrible thing to fucking do.

Humanity is fucked.

If it is manipulation by Trump the 401k will recover once he is out of office.

[Necrosis]

To each their own. If you don't wanna get robbed, don't "invest" your hard earned money into some ridicolous bullcrap with zero intrinsic value and no utility except for making others with enough leverage to manipulate the prize richer.

Of course, I am still way up.

intrinsic value is an odd thing to say, money has no intrinsic value nor does gold. You cant eat money. ETH has as much intrinsic value as anything if you believe the digital world is here to stay.

The argument that I should just except corruption and stay out of it seems juvenile at best. How about we punish those who use criminal methods to acquire money?

[Necrosis]

If it is manipulation by Trump the 401k will recover once he is out of office.

For sure, I am just saying, imagine a person who recently invested in something only to get rug pulled and panic sell. I am all about responsibility but the level of manipulation that is occurring is next level.

The trump coin is absurd, the guy uses his power as president to sway folks to buy, lies to their faces about it and then rug pulls them all while doubling his net worth in less than a year via this method.

[Flexacon]

Shit is so fucking corrupt. the orange tart is clearly manipulating the market. Give it about a week and he will lift the tariffs. He will make money down and up.

For the most part markets have always been manipulated. They hit levels to coincide with good/bad news. A good example is in 2023 and 2024, markets dumped on news of government shutdowns. This time the market continued up despite shutdowns, so they wheeled out a tariff dump. Important to remember that corrections are needed and healthy in the long term

Orange man and his handlers don't seem to care as much as others about hiding their tracks, but consider this golden times as orange man is hell bent on pumping the markets over the course of his term. I'm saying this as someone who got massively screwed out of a position that could have retired my entire family by Trumps shenanigans earlier this year, but these are good times and we might not see them again for a while. Make the most of them.

[Flexacon]

I have been hoping for a drop, as I love buying on these dips. I am annoyed as I have a long standing 106K buy on Coinbase, which didn't hit (despite the price apparently dropping to 104 on some exchanges...).

Coinbase didn't drop below 107k. Binance 102k.

Something went wrong at binance yesterday (or maybe a market maker) Some alts flash crashed 70% to 98%, pretty much all leverage got wiped out. Even x2 leverage positions got wiped out. Shorts couldn't even profit as their positions got closed by the CEXs. Either this was the biggest fuck up in crypto ever or the biggest fraud ever. 10 maybe 20 times more money was lost here compared to FTX or the covid crash. Worth noting it was only degenerate money that was wiped out ($20 to $40 billion!) Spot holders are safu

This is either the end of the cycle or it was the flush to clear the path for the final leg up. An orange man tariff deal rally probably signals the latter

[FitnessFrenzy]

Bitcoin going up a bit here sunday. Might also be an indication that we won't see a larger stock market crash next week.

[Griffith]

China clarifies new rare earth export controls are not a ban — applications that “meet regulations” will be approved.

Beijing says it’s willing to strengthen dialogue to “maintain stability in global industrial and supply chains.”

https://www.reuters.com/world/china/china-says-its-rare-earth-export-controls-are-legitimate-2025-10-12/

[gib]

Coinbase didn't drop below 107k. Binance 102k.

Something went wrong at binance yesterday (or maybe a market maker) Some alts flash crashed 70% to 98%, pretty much all leverage got wiped out. Even x2 leverage positions got wiped out. Shorts couldn't even profit as their positions got closed by the CEXs. Either this was the biggest fuck up in crypto ever or the biggest fraud ever. 10 maybe 20 times more money was lost here compared to FTX or the covid crash. Worth noting it was only degenerate money that was wiped out ($20 to $40 billion!) Spot holders are safu

This is either the end of the cycle or it was the flush to clear the path for the final leg up. An orange man tariff deal rally probably signals the latter

Interesting - thanks. Yes, I can see how that happens, when there is an entire ecosystem around an exchange and electronic liquidations etc. If people are taking more leverage on that exchange, maybe that causes wider volatility.

Its a shame my standing 106K buy order didn't hit, but no biggie. Monday will be interesting to see how stocks and the BTC ETF trades.

[gib]

For sure, I am just saying, imagine a person who recently invested in something only to get rug pulled and panic sell. I am all about responsibility but the level of manipulation that is occurring is next level.

The trump coin is absurd, the guy uses his power as president to sway folks to buy, lies to their faces about it and then rug pulls them all while doubling his net worth in less than a year via this method.

Yes, quite disgraceful. But on the other hand, if a fool is parted with his money, also shame on the fool...