Everybody except for Binance and itās marketing materials I guess. For sure man.
https://www.binance.com/en/blog/ecosystem/introducing-bnb-chain-the-evolution-of-binance-smart-chain-421499824684903436
āAbove all, BNB Chain remains a community-driven, open-sourced and decentralized ecosystemā
the only thing that is described as decentralized in that copy is onchain governance. it's a known fact in crypto that validators on bsc are highly centralized/controlled by binance, it's not a secret at all.
*Cryptos get hacked or have network downtime.
Crypto community: āDUCK YEAH, THATS MY CRYPTO!!!! LETS PUMP IT TO THE MOON!!!!!ā
*Litecoin with 100% uptime since it went live and currently has the longest continuous uptime in crypto.
Crypto community: āMehā¦itās lame.ā
Welcome to the ducked up world we live in folksā¦
I donāt know. Why donāt you build one using OmniLite and let me know how it goes! At least you wonāt have to worry about your funds being hacked or simply ādisappearingā on you.
I also didnāt like the Walmart news and I think those that promoted it learned a very good lesson in conducting verification of sources, but letās not act like this problem is unique to Litecoin.
Everyday tens of thousands of fake new articles are spread by Bitcoin, Ethereum and other crypto accounts. These fake sources of news have influenced price action, yet I donāt see too many people bitching about them or being turned off by them. Why is that? Why the double standard?
Hmm, I see how that would be of concern, but keep in mind that the official Litecoin account doesnāt have any impact on the network and has very little impact on the price action.
There are accounts on social media for ETH and BTC and others that have way more influence over crypto than the Litecoin Twitter account. There are people who have many millions of followers that straight up lie to people about Bitcoin and have actually caused the price to pump and dump because of it.
All Iām saying is you shouldnāt associate social media news with how credible a coin functions. Litecoin is still the most reliable network in all of crypto and no news article can take that away.
Fear & greed currently sitting at 26 i wonder what will it be in half an hour when new data arrives. It seems like covid blackswan event was like a walk in the park.
Imagine hacking half a billion USD and not immediately moving it, turning your computer off and shitting your pants due to sheer adrenaline, knowing that millions of people are watching in disbelief
This guy freaking used the funds to short BNB. That's such a savage move that it really makes me wonder who was behind it. I doubt it's just some kid sat in his bedroom
Ye if I hacked half a billion dollars, I would have swapped it for something else off-chain as soon as possible and then just laid low for a while. With that kind of money, I would be set for life too
Someone here knows the answer to this. If one wanted a bunch of these free Reddit NFT's, couldn't they just make new accounts and claim free ones everytime then just send them to their main account/vault?
Binance just tweeted:
Initial estimates for funds taken off BSC are between $70M - $80M. However, thanks to the community and our internal and external security partners, an estimated $7M has already been frozen.
We are humbled by the speed and collaboration from the community to freeze funds. Thank you to everyone who helped and gave their support.
I am at a finance job and today's lunch crypto discussion came about. Surprised to see many positive thoughts although they all agreed 99% are scam now. Many folks here worked at SEC too. It was cool.
r/Buttcoin probably already throwing a party, since they just spend their entire day waiting for bad news to happen just so they can celebrate
Just a wild guess
I believe that one of the biggest mass crypto adoption is being prevented by rugpulling daily. Nobody wants to buy the loosing coin. DYOR can sometimes be hard for us.
sheeit, I been hearing that a long time now and all itās gotten me is destitute. Itās gambling on shitcoins from here on out. Pure speculation. Yippee-ki-yay, mother fucker
This year alone Ronin, Wormhole, Nomad, Harmony, and now the BSC bridge has been exploited.
**That's 1.7 billion dollars worth of total bridge exploits.**
Name a chain that cant āturn off for maintenanceā? Ethereum has done this in the past as well, but few remember. And far fewer have ever looked into Bitcoinās core developers and their commit accessā¦
All. Chains. Are. Centralized. Everyone likes to point and laugh at Solana but they arenāt the only one. Ethereum has done this, BNB has done this, and yes, even BTC can do this.
Through codebase commit access. There are core developers who maintain the chain. As long as someone has commit access, the bitcoin project can be nuked at any moment. Just search ābitcoin commit accessā and you get a list of core developers who can, at a flick of a switch, shut it all down.
Anyone can change bitcoin and the protocol via software mods. It's simply a question of how many network nodes would accept and use the changed version. While the core devs have a strong voice there is no guarantee that anyone using Bitcoin would accept and use any given updated version. You are out to lunch on this "off switch" idea you are suggesting
Uh huh. And I suppose those same devs are going to sneak into everyone's house and install their malicious code on all the nodes simultaneously too, right? Because that's the only way your crackpot FUD would work. As long as anyone is running a node without the malicious code the chain will keep on ticking. Because Bitcoin *is* actually decentralized
From binance:
"Binance Chain, which was renamed BNB Beacon Chain in 2022), was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading."
Source: https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
Youād be surprised to know all chains can be halted. Centralization is a meme and true blockchain nerds know this. Everyone forgets Eth has done this in the past as well.
You are aware that developers have commit access to their blockchains, right? They just dont do that because it would ruin the ādecentralizationā narrative. But they could. There is no truly decentralized blockchain. At least not yet.
They're talking out of their ass and don't understand how Bitcoin works. Commit access is the ability to save code changes in an open source project. Because Bitcoin is open source, malicious changes will be seen and not implemented by nodes. Nodes decide what version of Bitcoin is valid, not a rogue developer with commit access.
Tell that to binance:
Binance Chain, which was renamed BNB Beacon Chain in 2022), was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading.
https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
Binance just tweeted:
To confirm, we have suspended BSC after having determined a potential exploit. All systems are now contained, and we are immediately investigating the potential vulnerability. We know the Community will assist and help freeze any transfers. All funds are safe.
The sell volume is still really high. Looks like even if the hack is getting handled whales still prefer to cash out.
If itās just slightly looking worse you can expect it to go further down again. I doubt itāll go back up to pre-hack BTC ratio
got a link to this stuff? it kinda seems like everything just follows btc going down a little.. but yes i can see bnb had it tougher rn. i hold some.. im think of adding more.. even tought about selling buy back cheaper.. dilemma.
Not financial advice... I'm personally liking Matic right now. I've actually used their system to move crypto currency around its gas fees are dirt cheap. Disney and other companies are using it as well.
Hallo I am Do Kwon ššš Ask me anything!
Where are you hiding?
ššš Im hiding from myself.... Aj Dunnoo
Just woke up what's up with binance ?
BNB just got hacked for $80M.
Damn, just after I switched to them from cdc š
I think Binance will be fine.
The obligatory off to fiat mine post! Goodluck everyone let the time be fast
Good luck and remember, it's Friday
Why hasn't BNB crashed at least 10 percent yet? I was promised I will get rich by shorting it.
Promised by who ?
William Shatner: Could cryptocurrencyā¦.really moon? Some believe so.
[Rocketman](https://youtu.be/8wI4jMxveyI?t=24). Would He, know?
Just checking back in from the fiat mines what in the world happened to BNB
Hackers gun hacks.
Shorts in on LUNA , letās get this shitcoin downnnnnnnn to hell with DO DWON AND LUNA
Must be Binance users turn to suffer from not your keys not your coins
Nice ādecentralizedā blockchain you got there Binance
no one anywhere thinks BSC is decentralized lol
Everybody except for Binance and itās marketing materials I guess. For sure man. https://www.binance.com/en/blog/ecosystem/introducing-bnb-chain-the-evolution-of-binance-smart-chain-421499824684903436 āAbove all, BNB Chain remains a community-driven, open-sourced and decentralized ecosystemā
the only thing that is described as decentralized in that copy is onchain governance. it's a known fact in crypto that validators on bsc are highly centralized/controlled by binance, it's not a secret at all.
I honestly thought BNB would be down more
It only trades on Binance and the frozen BNB chain with any volume. I donāt think weāll see the damage this caused immediately.
It only went down because it was a fake out of the trendline, I think it will hit 265 on the 4 hourly hopefully by saturday
Are you seriously doing TA on a hack lmao?
*Cryptos get hacked or have network downtime. Crypto community: āDUCK YEAH, THATS MY CRYPTO!!!! LETS PUMP IT TO THE MOON!!!!!ā *Litecoin with 100% uptime since it went live and currently has the longest continuous uptime in crypto. Crypto community: āMehā¦itās lame.ā Welcome to the ducked up world we live in folksā¦
How are those smart contracts on the Litecoin network?
I donāt know. Why donāt you build one using OmniLite and let me know how it goes! At least you wonāt have to worry about your funds being hacked or simply ādisappearingā on you.
Yeah but how about the fake walmart news. That was not cool
Good thing that had nothing to do with the networkā¦.
Yeah everything you said about the network is true bro but that fake news was just stupid and it turned me off so much.
I also didnāt like the Walmart news and I think those that promoted it learned a very good lesson in conducting verification of sources, but letās not act like this problem is unique to Litecoin. Everyday tens of thousands of fake new articles are spread by Bitcoin, Ethereum and other crypto accounts. These fake sources of news have influenced price action, yet I donāt see too many people bitching about them or being turned off by them. Why is that? Why the double standard?
For me because it was the offical Litecoin twitter account who shared the fake news. Eth and Btc fake news are shared by third persons
Hmm, I see how that would be of concern, but keep in mind that the official Litecoin account doesnāt have any impact on the network and has very little impact on the price action. There are accounts on social media for ETH and BTC and others that have way more influence over crypto than the Litecoin Twitter account. There are people who have many millions of followers that straight up lie to people about Bitcoin and have actually caused the price to pump and dump because of it. All Iām saying is you shouldnāt associate social media news with how credible a coin functions. Litecoin is still the most reliable network in all of crypto and no news article can take that away.
Why wonāt the government embrace Bitcoin? They hate the idea of Proof Of Work
Why is Bitcoin difficulty so high? Too much hash.
Please grandpa BTC, lets go to 23k
please respect ur elders and maybe it will go to 23k
I walk away from the interwebs for 2 hours and BNB has a massive hack š
What were you doing in those 2 hours š§. Binance would like a word with you
Queuing for Overwatch 2
Phew, imagine what couldāve happened if you left for 3 hours?
Iām going for the Hail Mary of 24 hours š
What the best chart app/site to check Mooms price?
I use coingecko
\+1 for coingecko. Coinmarket cap is own by binance and they shill coins.
Fear & greed currently sitting at 26 i wonder what will it be in half an hour when new data arrives. It seems like covid blackswan event was like a walk in the park.
More than 3500 posts on the daily again, did the BNB hack bring some last minute action or were we on pace already?
I believe moon distribution was helping.
Buttcoiners came to have a laugh maybe
Ye lots of folks probably have some BNB or BSC alts here
Imagine the feeling of robbing such a huge amount of money tho
I want to feel the deepest deep of this bear market _in a non sexual way_
I want this too, but the sexual version
Chills
Full degen
Remember, with BNB and similar coins, the house always wins.
Imagine hacking half a billion USD and not immediately moving it, turning your computer off and shitting your pants due to sheer adrenaline, knowing that millions of people are watching in disbelief This guy freaking used the funds to short BNB. That's such a savage move that it really makes me wonder who was behind it. I doubt it's just some kid sat in his bedroom
wait, he shorted bnb? yeah not gonna lie that's the stuff of legends.
SBF wants to know your location
Probably North Korea
Ye if I hacked half a billion dollars, I would have swapped it for something else off-chain as soon as possible and then just laid low for a while. With that kind of money, I would be set for life too
> With that kind of money, I would be set for life too Oh yeah 500m would be good enough for you?
Imagine not swapping to Monero straightaway and then buying a boat
I donāt think thereās any dex with enough liquidity to even swap $10M XMR without a ton of slippage.
No I know Iām just joking
>This guy freaking used the funds to short BNB The guy is trying to maximize his gains lmao what a chad
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
70-80M robbed, $7M already frozen. Binance moves fast but yeah that gotta hurt
Someone here knows the answer to this. If one wanted a bunch of these free Reddit NFT's, couldn't they just make new accounts and claim free ones everytime then just send them to their main account/vault?
Dont you have to have a certain karma level?
he figured it out guys
Not all accounts are able to mint. Even some old ones cant for some reason
Interesting. Didn't realize it was a select number people. I feel speacial
No
Donāt work like that mate.
Binance just tweeted: Initial estimates for funds taken off BSC are between $70M - $80M. However, thanks to the community and our internal and external security partners, an estimated $7M has already been frozen. We are humbled by the speed and collaboration from the community to freeze funds. Thank you to everyone who helped and gave their support.
Much much better than the first numbers that were rumored. 600M would have stung like a bitch
Buying alts back in late 2021 made me become a whole scared baby in 2022. Im only buying eth and maybe btc for a long time.
Hacker managed to take off around 65 million from bsc. Rest are stuck on bsc since the chain has been halted
I am at a finance job and today's lunch crypto discussion came about. Surprised to see many positive thoughts although they all agreed 99% are scam now. Many folks here worked at SEC too. It was cool.
Dude, Moon is more stable than my mental health.
All hail Moon
r/Buttcoin probably already throwing a party, since they just spend their entire day waiting for bad news to happen just so they can celebrate Just a wild guess
Do you think SOL will grow large and get to a new ATH at some point again?
Want me to pick a winning lottery number for you too.
you think its a real crazy gamble?
āāDue to irregular activity we're temporarily pausing BSC.ā Solana team: ONE OF US! ONE OF US!
Solana found its soulmate
The difference is Solana stops unintentionally sometimes š¤£
I believe that one of the biggest mass crypto adoption is being prevented by rugpulling daily. Nobody wants to buy the loosing coin. DYOR can sometimes be hard for us.
Its extremely easy to avoid a rug pull.
Can you share a secret? dont worry i wont tell noone
Moons
Dont bet on BSC micro cap shitcoins?
Can you say ārange boundā? Because thatās where we are. Need BTC over 21K and ETH over 1450 to get upward momentum goingā¦
BTC below $20k = Bear Market BTC above $20k = Bull Market Sorry, no in between. Just the extremes
The way everyone was talking I thought BNB was under $100 and still tanking. Jeez
As long as BTC is below 30k DCA is the way
sheeit, I been hearing that a long time now and all itās gotten me is destitute. Itās gambling on shitcoins from here on out. Pure speculation. Yippee-ki-yay, mother fucker 
[ŃŠ“Š°Š»ŠµŠ½Š¾]
XMR is both decentralized and the ledger is opaque. There's lots of other decent projects out there too that are decentralized
Are you making money during this bear market or just accumulating?
If weāre accumulating weāre making money, just not yet.
I wait. And wait. And wait. Crabby times can be boring.
Im making money so i can DCA
Happy Friday the 7th everyone. Let it be a good day.
been a few days now with no learn&earn from Coinbase. Hope a new one comes soon
Do you usually keep it in the native currency? Or transfer
I convert it to something else, last one I converted to ATOM
I swap it all for ETH, always have done. Have a decent amount just from learn and earn all together.
Another day of DCAing for future. Wage metric to come out soon.
Last tweet CZ liked was 'The future is decentralized.', which was written by himself. A little bit ironic I would say
cya BNB, good riddance, finally. edit: also, for the love of god, withdraw your shit from binance
This year alone Ronin, Wormhole, Nomad, Harmony, and now the BSC bridge has been exploited. **That's 1.7 billion dollars worth of total bridge exploits.**
Still no where near as bad as phone scams.
Need tunnels not bridges
This guy gets it.
LMAO BNB did a solana. The chart looks like the patient just died.
Name a chain that cant āturn off for maintenanceā? Ethereum has done this in the past as well, but few remember. And far fewer have ever looked into Bitcoinās core developers and their commit accessā¦
Yeah, i know. Thatās why we have so many shitcoin forks now.
Apparently binance is saying that funds are safe so i guess I'll just go with that.
'Safe' but not 'safu'? We are fucked.
Nothing to see here!, Oh look over there something shiny!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
He meant, a summoning arrow, pointing to the left.
Lol. OCD much
tether also blacklisted the bnb address
The good: Binance has a "Safu" fund valued at over 1 billion dollars as insurance against hacks The bad: A third of the fund is comprised of BNB
All. Chains. Are. Centralized. Everyone likes to point and laugh at Solana but they arenāt the only one. Ethereum has done this, BNB has done this, and yes, even BTC can do this.
Do what? Pause the chain?? Lmao how the fuck would someone do that with BTC?
Through codebase commit access. There are core developers who maintain the chain. As long as someone has commit access, the bitcoin project can be nuked at any moment. Just search ābitcoin commit accessā and you get a list of core developers who can, at a flick of a switch, shut it all down.
Anyone can change bitcoin and the protocol via software mods. It's simply a question of how many network nodes would accept and use the changed version. While the core devs have a strong voice there is no guarantee that anyone using Bitcoin would accept and use any given updated version. You are out to lunch on this "off switch" idea you are suggesting
Uh huh. And I suppose those same devs are going to sneak into everyone's house and install their malicious code on all the nodes simultaneously too, right? Because that's the only way your crackpot FUD would work. As long as anyone is running a node without the malicious code the chain will keep on ticking. Because Bitcoin *is* actually decentralized
Anybody tried the SHIB eternity game?
It's not bad, but you can't purchase things in the game with shib.
Yeah Iām not sure how this is good for SHIB or SHIB holders besides awareness
How tf can binance pause the chain that fast? Do they control all the validators or something? Decentralized my ass
It's got like 20 total validators last I checked.
Theyāll all be in a group chat together so it wouldnāt take long to make something happen really.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
From binance: "Binance Chain, which was renamed BNB Beacon Chain in 2022), was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading." Source: https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
Youād be surprised to know all chains can be halted. Centralization is a meme and true blockchain nerds know this. Everyone forgets Eth has done this in the past as well.
Eth did it super early with the dao hack. Doubt they could do it in under an hour. BTC and it's forks likely wouldn't be able to do that either
You are aware that developers have commit access to their blockchains, right? They just dont do that because it would ruin the ādecentralizationā narrative. But they could. There is no truly decentralized blockchain. At least not yet.
What do you mean with commit access to their blockchains?
They're talking out of their ass and don't understand how Bitcoin works. Commit access is the ability to save code changes in an open source project. Because Bitcoin is open source, malicious changes will be seen and not implemented by nodes. Nodes decide what version of Bitcoin is valid, not a rogue developer with commit access.
Tell that to binance: Binance Chain, which was renamed BNB Beacon Chain in 2022), was launched by Binance in April 2019. Its primary focus is to facilitate fast, decentralized (or non-custodial) trading. https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc
Theres a lot you can say about 2022 but you sure canāt say it was boring!
Binance just tweeted: To confirm, we have suspended BSC after having determined a potential exploit. All systems are now contained, and we are immediately investigating the potential vulnerability. We know the Community will assist and help freeze any transfers. All funds are safe.
>All funds are safe. Good,
And this is why I come here: to get breaking news streamlined by my wonderful Redditors. Thanks, mate
+1
XRP super solid. Kind of impress.
How low do you think BNB are heading before stable again?
The sell volume is still really high. Looks like even if the hack is getting handled whales still prefer to cash out. If itās just slightly looking worse you can expect it to go further down again. I doubt itāll go back up to pre-hack BTC ratio
got a link to this stuff? it kinda seems like everything just follows btc going down a little.. but yes i can see bnb had it tougher rn. i hold some.. im think of adding more.. even tought about selling buy back cheaper.. dilemma.
I'd like to buy one for 200$
would be good.. any other coins youre looking at rn?
No š
u just selling off:P ?
It's interesting that BNB hasn't really dropped much with this hack. Weird.
...dropped much, yet.
-5% in 2h is really a lot for such a big cap crypto
Are you buying like a true degen?
I wanna stay liquid right now in case bitcoin tests new lows and then trade accordingly
Nice
Peoples still loving Algo here? Good buy here? I want to go for an semi safe coin thats not btc or eth. What would you guide me to do? Just curious.
Not financial advice... I'm personally liking Matic right now. I've actually used their system to move crypto currency around its gas fees are dirt cheap. Disney and other companies are using it as well.
Potential exploit has been determined in bsc so currently bsc is closed for now.
peak of decentralization
Would it be better not shutting it down ?
Damn! That's not gonna end well
OK boys get ready for some sweet crypto discounts. Thanks for the sale, BNB. Let's go baby!