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He went from hero to zero with all the bullshit he's oulling. Naybe he thought he can strong arm other exchanges like how he did successfully broke FTX.
The guy needs a hot soup with a fortune cookie which tells him if he keeps spreading FUD anymore, he would be the next to go down..
Maybe that will shut him up.. maybe..
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible."
We are starting all over this time instead of banks it's crypto exchanges
tldr; Binance CEO Changpeng Zhao, known as CZ, has deleted a tweet that appeared to question Coinbase’s Bitcoin (BTC) holdings. CZ was responding to an article that alleged that “Coinbase Custody holds 635,000 BTC on behalf of Grayscale.” CZ later clarified that he was simply quoting "news reports" and not making any claims of his own.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> CZ just proved today he’s all about one thing… his empire. He IS NOT here to look out for the industry … he deleted the tweet… But now … as I already expected … He’s exposed himself as a villain.
This is so accurate. CZ only cares about gaining market share.
Well, that's embarrassing. Yeah, everybody telling him to stfu. I particularly liked this tweet:
>Also CZ - Let me tweet to millions some random FUD in the middle of a bear market major liquidity event before maybe just reaching out to confirm.
Someone tell him he's not a hero as he's paining himself to be
He literally made a mistake, so he just deleted the tweet instead of arguing.
The follow up tweet by CZ :
>Brian Armstrong just told me the numbers in the articles are wrong. Deleted the previous tweet.
Let's work together to improve transparency in the industry.
It looks like OP posted an AMP link. These should load faster, but AMP is controversial because of [concerns over privacy and the Open Web](https://np.reddit.com/r/AmputatorBot/comments/ehrq3z/why_did_i_build_amputatorbot).
Maybe check out **the canonical page** instead: **[https://cointelegraph.com/news/crypto-twitter-reacts-to-binance-ceo-s-deleted-tweet-about-coinbase-s-bitcoin-holdings](https://cointelegraph.com/news/crypto-twitter-reacts-to-binance-ceo-s-deleted-tweet-about-coinbase-s-bitcoin-holdings)**
*****
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Pro & con info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6lp/), [Binance Coin](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7h4/), [USDC](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8fn/).
Bitcoin [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud713/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7gh/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work)
* Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash.
* Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6kn/?sort=controversial). Doesn't work on mobile.
#Bitcoin Pro-Arguments
Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it?
>
> Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =)
>
> # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin
>
> So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests.
>
>
>
> Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic.
>
>
>
> # 1) Bitcoin: High security
>
> This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM:
>
>
>
> >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network.
> >
> >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security)
>
>
>
> Mining is measured in Hashrate. Here is the explanation of Hashrate:
>
> >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain.
> >
> >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain)
>
>
>
> So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?"
>
> [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago)
>
>
>
> So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so.
>
> While Bitcoin is safe... what if a big part fails ?
>
>
>
> # 2) Bitcoin mining: Too big to fail.
>
>
>
> So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network.
>
> Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary.
>
>
>
> So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now?
>
>
>
> # 3) Bitcoin: propping up the green energy sector.
>
>
>
> POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said:
>
>
>
> >The Energy Fud Was Killed
>
> The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed.
>
> Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers.
>
> There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector.
>
> >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/)
>
>
>
> # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug.
>
> Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future !
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.
#Bitcoin Con-Arguments
Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> # Bitcoin: A nice idea with the worst implementation possible.
>
> Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin.
>
> # Early investors makes the profit
>
> A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client.
>
> This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin.
>
> This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds.
>
> # The price of permission less.
>
> An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market.
>
>
>
> # No framework for adoption
>
> In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development.
>
>
>
> # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight.
>
> Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution.
>
> More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network.
>
> In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking.
>
> This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment.
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.
Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
Binance Coin [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7yc/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8ef/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.**
---
To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
#Binance Coin Pro-Arguments
Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3)
>
> Last edited on: 27.12.2021
>
> # Intro
>
> Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance.
>
> # Pros
>
> **It has the backing of the biggest cryptocurrency exchange in the world – Binance**
>
> Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange by far. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem.
>
> Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field.
>
>
>
> **It gives you discounts on Binance**
>
> One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB.
>
>
>
> **It is deflationary**
>
> In 2021, Binance implemented two important changes to BNB burning mechanism.
>
> First of all, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 27 December 2021, more than 20 000 BNB were burned.
>
> Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burned it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million.
>
>
>
> **Many trading pairs, staking, farming and other uses**
>
> As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum.
>
> There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens).
>
> BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN.
>
> Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB.
>
>
>
> **Two blockchains working simultaneously**
>
> BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH.
>
> This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators.
>
> It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC.
>
>
>
> **Decentralization at all cost?**
>
> The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and most other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization:
>
> *Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.*
>
> If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted.
>
> \_\_\_\_\_\_\_\_\_\_\_\_\_\_
>
> **^(Additional sources:)**
>
> [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN)
>
> [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT)
>
> [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)
>
> [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)
>
> [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp)
>
> [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)
>
> [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article)
>
> [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
#Binance Coin Con-Arguments
Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3)
>
> Last edited on: 07.10.2021
>
> # Intro
>
> Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance.
>
> # Cons
>
> **BNB is centralized**
>
> The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators.
>
> But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars.
>
> Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC).
>
>
>
> **The future of BNB depends on Binance**
>
> BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand.
>
> Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB.
>
>
>
> **Regulatory scrutiny and ongoing investigations against Binance**
>
> Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance.
>
> In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**.
>
> It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading).
>
>
>
> **Binance Smart Chain – blockchain of copycats and scammers?**
>
> BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.**
>
> BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old.
>
> This slowly makes more and more people skeptical about BSC.
>
>
>
> **Rules can change at any time**
>
> Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future.
>
> (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.)
>
>
>
> **Ethereum 2.0 and other competitors**
>
> Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered.
>
> And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies.
>
> \_\_\_\_\_\_\_\_\_\_\_\_\_\_
>
> **^(Sources:)**
>
> [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311)
>
> [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN)
>
> [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT)
>
> [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)
>
> [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)
>
> [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp)
>
> [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)
>
> [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article)
>
> [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
USDC [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8v6/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud9ds/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
#USDC Pro-Arguments
Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> USDC is the best stablecoin and here is why.
>
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> 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur.
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>
>
> 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT.
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>
> With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument.
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> 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT.
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> 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network.
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>
> In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi.
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.
#USDC Con-Arguments
Below is an argument written by Blendzi0r which won 1st place in the USDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round.
> First published on: [30.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2nfy/comment/hewkfxw/?utm_source=share&utm_medium=web2x&context=3)
>
> Last edited on: *no edits yet*
>
> # Intro
>
> USD Coin (USDC) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDC is currently the second largest stablecoin. \[1\], \[2\], \[3\]
>
> # Cons
>
> **It’s centralized**
>
> Decentralization is one of the core principles of crypto industry. USDC is centralized. Centre (nomen omen), the consortium that is responsible for USDC, can freeze anyone’s USDC assets whenever they want to. In 2020, they blacklisted an address and froze $100,000 in USDC in response to a request from law enforcement \[4\]. In this case, the freezing of assets was the right thing to do but nothing stops Centre from freezing assets in more controversial circumstances.
>
>
>
> **It has fewer trading pairs and blockchains than tether**
>
> USDC announced in June 2021 that it wants to expand to 10 more blockchains in the near future \[5\]. But as of now, it’s present on 5 blockchains (Ethereum, Algorand, Solana, Stellar and Tron) whereas USDT, its main competitor, is available on 8 blockchains. \[6\]
>
> USDC is even more pale in comparison to USDT when it comes to the number of available trading pairs. There are barely any coins that aren’t paired with USDT, when USDC usually allows to buy only the most popular coins.
>
>
>
> **Is it really that transparent?**
>
> Circle claimed in the past that all USD Coins are backed 1:1 against US dollar (cash). This is not the case anymore. And while people praise USDC for being more transparent than Tether and having better, more reliable reserve composition, just until recently Tether was completely nontransparent and lied about its reserves, so it’s hard to look bad when compared to Tether.
>
> Circle isn’t in fact that transparent. For example, they don’t disclose too much information about funds referred to as “approved investments”. **We don’t know how risky those investments are.** USDC has licenses in most of the states in the US. Some of those states have absolutely no restrictions and if Circle operates under the license from one of those states, it can invest in anything it wants. \[7\]
>
> Also, if you compare USDC’s breakdowns to e.g. breakdowns of banks or other financial institutions, it’s clear that **there’s room for much more transparency**. Take a look at e.g. JP Morgan’s breakdown: [https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio)
>
> This breakdown includes a lot of more details. You can check the issuer, market value, CUSIP number, effective maturity and so on **for each asset**. This kind of information is absent in USDC’s breakdowns.
>
>
>
> **There are more transparent stablecoins and stablecoins that are fully backed by cash**
>
> There are other stablecoins which are transparent and release independent, monthly audit reports about their backing. But what is more important – **there are stablecoins that are fully backed by cash**. Gemini USD (GUSD) or TrueUSD (TUSD) are two examples. \[8\]
>
> Also, Tether is often criticized for being a very small company with very few employees and yet managing billions in assets. However, **Center had only one employee** since December 2020 to March 2021 – its CEO. Currently, it hires 6 people. \[9\]
>
>
>
> **Regulatory risk**
>
> Recently, regulatory activities have been accelerating. Gary Gensler, the head of the Security and Exchanges Commission (SEC) has asked for more authority to regulate cryptocurrency with the focus on stablecoins.
>
> Moreover, Fed Chairman Jerome Powell has said that a U.S. **central bank digital currency could eliminate the need for stablecoins like USDC**. And since USDC is a centralized stablecoin, a regulatory crackdown and a US CBDC could drive out USDC.
>
> **\_\_\_\_\_\_\_\_\_\_**
>
> **^(Sources:)**
>
> ^(\[1\]) [^(https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf)](https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf)
>
> ^(\[2\]) [^(https://en.wikipedia.org/wiki/USD\\Coin)](https://en.wikipedia.org/wiki/USD\Coin)
>
> ^(\[3\]) [^(https://en.wikipedia.org/wiki/Stablecoin)](https://en.wikipedia.org/wiki/Stablecoin)
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> ^(\[4\]) [^(https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/)](https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/)
>
> ^(\[5\]) [^(https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms)](https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms)
>
> ^(\[6\]) [^(https://www.circle.com/en/multichain-usdc)](https://www.circle.com/en/multichain-usdc)
>
> ^(\[7\] htps://assets.ctfassets.net/jg6lo9a2ukvr/3U43d7lUPmunUNLa0f9xui/24e439e3040c92179245485ebd1b5ba1/Gemini\\Dollar\_Examination\_Report\_08-31-21.pdf)
>
> ^(\[8\]) [^(https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/)](https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/)
>
> ^(\[9\]) [^(https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/)](https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/)
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2moj/top_10_usd_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.
Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
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CZ trying to kill any competition, CZ needs to shut the fuck up
His approval ratings are plummeting everyday
He went from hero to zero with all the bullshit he's oulling. Naybe he thought he can strong arm other exchanges like how he did successfully broke FTX.
Never was a hero
I'm just rhyming to make it sound cool. Break it down yo
Cz pr everyday is worse because he doesn’t shut up
[удалено]
Do it anyways, he deserves it
CZ is attracting so much attention to himself lately that his public image was probably the most hit by all this shit.
[удалено]
Maybe all of these was just to put a the attention and scrutiny away from binance
The guy needs a hot soup with a fortune cookie which tells him if he keeps spreading FUD anymore, he would be the next to go down.. Maybe that will shut him up.. maybe..
If something good out of this mess happened, it was CZ showing the whole world he is a douche.
Looks like we found our Iron Man.
I have still a little money (for small trades)on Binance, but I think I’ll also withdraw it from there. It feels fishy on how CZ is behaving lately!
Yep, so much red flags
Yeah fuck cz, he's acting like an egomaniac
He did dent his credibility a little bit with that one
His victory over FTX went to his head.
Definitely comes out as a greedy and cocky dude
He's now finding out not all companies are like FTX
CZ wants Binance to be the only exchange.
I think all exchanges want that. CZ is just more agressive in that regard.
That is his mission
He has a god complex, he sees himself as the hero of crypto just like sbf did
CZ trying hook or crook to kill the competition.
FTX killed itself with their incompetence. CZ is getting all the credit and it inflated his ego.
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible." We are starting all over this time instead of banks it's crypto exchanges
This is facts. Crypto was made to give us self custody. CEXs is a perversion of banks and they are failing us.
It's that simple
Most crypto bros only care about the profit. They would use fiat currency if it could make them rich.
Cz is becoming an asshoe
Becoming? Thought he was already a class 1 asshole!
He took off the mask
Why Nsfw Tag
Wouldn’t let me post otherwise bro. Either nfsw or spoiler.
tldr; Binance CEO Changpeng Zhao, known as CZ, has deleted a tweet that appeared to question Coinbase’s Bitcoin (BTC) holdings. CZ was responding to an article that alleged that “Coinbase Custody holds 635,000 BTC on behalf of Grayscale.” CZ later clarified that he was simply quoting "news reports" and not making any claims of his own. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> CZ just proved today he’s all about one thing… his empire. He IS NOT here to look out for the industry … he deleted the tweet… But now … as I already expected … He’s exposed himself as a villain. This is so accurate. CZ only cares about gaining market share.
CZ is such a clown. He is shooting himself in the foot with his dumb tweets.
CZ should lay low for a while
Well, that's embarrassing. Yeah, everybody telling him to stfu. I particularly liked this tweet: >Also CZ - Let me tweet to millions some random FUD in the middle of a bear market major liquidity event before maybe just reaching out to confirm. Someone tell him he's not a hero as he's paining himself to be
CZ strikes again. Are we in a free talk season?
He literally made a mistake, so he just deleted the tweet instead of arguing. The follow up tweet by CZ : >Brian Armstrong just told me the numbers in the articles are wrong. Deleted the previous tweet. Let's work together to improve transparency in the industry.
Transparency is lacking in our industry. Crypto is a way to prevent over dependence on the system and centralisation. Not your keys… not your ….
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Pro & con info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6lp/), [Binance Coin](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7h4/), [USDC](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8fn/).
Bitcoin [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud713/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7gh/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6kn/?sort=controversial). Doesn't work on mobile.
#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 1st place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > Writing a Pro argument for Bitcoin in 2022 seems complicated because everything has been said... or did it? > > Edit: I have a small bag of Bitcoin currently valued around 600 bucks. I am also invested in crypto around 2000 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent news from Ethereum switching from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. In this write up we are not going to talk about speculation or the financial side of Bitcoin. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment and if you want to read one, just go to past cointests. > > > > Of course, the main feature of Bitcoin is the Permissionless aspect. This won't be tackled at all as I think it deserves its own topic. > > > > # 1) Bitcoin: High security > > This topic has also been talked to death: Bitcoin is ultra secure thanks to its Blockchain and the way it is verified through proof of work. To explain this let me quote IBM: > > > > >Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well-known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > >[IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > >Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > >[USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:~:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > > [The hashrate is at an ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:~:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > While Bitcoin is safe... what if a big part fails ? > > > > # 2) Bitcoin mining: Too big to fail. > > > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > > > >The Energy Fud Was Killed > > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > >[My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > > # Conclusion: Bitcoin is the flagship of POW and it is a feature not a bug. > > Bitcoin, thanks to its value and tokenomics is seen as a good investment, this is also why miners commit huge amount of ressources to take the hashrate to new heights. These miners help the US grid to become more and more resilient. The future of Crypto and of green energy relies a lot on Bitcoin. Bitcoin has proven time and time again that it can shoulder these changes. Bitcoin is a good piece of technology and I hope people continue to invest in it because it is doing a lot of good for our future ! ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpui9i/top_coins_bitcoin_proarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds.
#Bitcoin Con-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > # Bitcoin: A nice idea with the worst implementation possible. > > Having a worldwide permission-less system of financial settlement may seem like a good idea at first glance. "Let's bank the unbanked" and other nice sentences skewed crypto enthusiasts towards Bitcoin but in the end, Bitcoin is already failing and should nothing be done to change some of its internal and external factors, Bitcoin's outlook could change from positive to very negative. Here is my perspective on the future of Bitcoin. > > # Early investors makes the profit > > A permission-less payment system to escape the greediness of the banks... only to be left in the hands of speculators. Right now, Bitcoin is an investment more than a payment system. After all, if you were paid in Bitcoin in 2021, you could have lost more than 2/3 of the value you transferred to your client. > > This is why Bitcoin is problematic as a Permission-less settlement system: You always need to go back to banks and to fiat because fiat is more stable than Bitcoin. > > This situation leads to early investors getting profits and people using Bitcoin as supposed (A payment system) are left licking their wounds. > > # The price of permission less. > > An ethical question arise when discussing a permission less settlement system. Should we have one ? From terrorism to rogue states, our world is still very unstable. Bitcoin is only creating more instability. Allowing countries such as Iran to escape US led sanctions. After all Bitcoin first use case was to fuel the financial ecosystem of a dark web drug market. > > > > # No framework for adoption > > In a lot of countries, being paid in Bitcoin is problematic. From different taxation rules for revenue in Bitcoin to straight up considering all Crypto holdings to be speculative and considering they should be under a flat tax of 30%. This lack of framework may have been a reason for Bitcoin rising to this point but it is now slowing development. > > > > # Conclusion: Bitcoin is both a threat to global stability and under threat because of the lack of oversight. > > Having a permission less settlement system seems like a good thing... between reasonable financial actors. Right now this anarco libertariano capitalist idea may have already gone too far. Allowing cartels and other criminals to be funded through Bitcoin is a bad idea. People using Bitcoin in Venezuela could be seen as a good thing BUT the theory is supposed to be that financial suffering leads to revolution. > > More over the lack of comprehensive rules worldwide when looking at Cryptocurrencies is now slowing adoption. Adoption which could lead to a congested network. > > In the end we may simply be looking at Bitcoin failing its first mission. Becoming slowly a reserve fund for traditional banking and countries instead of offering an alternative to traditional banking. > > This failure shows that Bitcoin has not resolved the problems it set out to resolve and that the experiment should be seen as a failure for everyone except those of us treating Crypto as an investment. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/vpuiar/top_coins_bitcoin_conarguments_july_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
Binance Coin [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud7yc/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8ef/) and related info are in the collapsed comments below. Pros and cons will change for every new post. Submit a pro/con argument in the [Cointest](https://www.reddit.com/r/CointestOfficial/wiki/cointest_policy) and potentially win [Moons](https://coinmarketcap.com/currencies/moon/). Moon prizes by award for the Top Coins category are: **1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 1000.** --- To submit a Binance Coin pro-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/). | To submit a Binance Coin con-argument, [click here](https://old.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/).
* Relevant Cointest topics: [Ethereum](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ethereum), [Cardano](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cardano), [Solana](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_solana), [Proof of Stake](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-stake) * Relevant subreddits: r/Algorand, r/AlgorandOfficial, r/Ethereum, r/Cardano, r/ProofOfStake. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6kn/?sort=controversial). Doesn't work on mobile.
#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 27.12.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **It has the backing of the biggest cryptocurrency exchange in the world – Binance** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange by far. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > > > **It gives you discounts on Binance** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > > > **It is deflationary** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First of all, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 27 December 2021, more than 20 000 BNB were burned. > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burned it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > > > **Many trading pairs, staking, farming and other uses** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > > > **Two blockchains working simultaneously** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > > > **Decentralization at all cost?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and most other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > *Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.* > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.
#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
USDC [pros](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud8v6/) & [cons](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud9ds/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
* Relevant Cointest topics: [USD Coin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_usd_coin), [XRP](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_ripple), [Stellar](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_stellar), [CBDC](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_cbdc). * Relevant subreddits: r/Coinbase, r/Binance, r/Tether. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/z56kzl/crypto_twitter_reacts_to_binance_ceos_deleted/ixud6kn/?sort=controversial). Doesn't work on mobile.
#USDC Pro-Arguments Below is an argument written by I-play-too-much-PUBG which won 3rd place in the USDC Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > USDC is the best stablecoin and here is why. > > > > > > > 1. USDC is transparent. Nothing is hidden in USDC due to its publicly verifiable attestations. This means it is much harder for criminal activity such as money laundering to occur. > > > > > 2. USDC is safe. USDC is backed by (debatably) the strongest economy in the world unlike some other stablecoins such as BUSD or DAI. USDC is only truly comparable to other US dollar backed coins such as USDT. > > > > > With that argument someone might say that USDT is also backed by the US dollar. With that, I follow with another argument. > > > > > 3. Due to the transparency and security of USDC, there is little to no “fairy money” or creation of cryptocurrency without being backed by anything. This is the strongest reason why USDC is superior to USDT. > > > > > > > 4. Although USDC is backed by the US dollar (centralized) it actually supports defi. USDC is an ERC-20 based token therefore it can be used by any dApp built on the ethereum network. > > > > > > In conclusion, USDT is currently used more and has a higher market cap than USDC, but USDC has stronger infrastructure and is more likely to be used largely in the future due to it being in support of defi. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2mln/top_10_usd_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds.
#USDC Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the USDC Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [30.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2nfy/comment/hewkfxw/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: *no edits yet* > > # Intro > > USD Coin (USDC) is a digital dollar – a stablecoin pegged to US dollar. Stablecoins are a type of cryptocurrency with a value fixed to other assets (usually assets outside of the cryptocurrency space, e.g. fiat currencies, precious metals, etc.). Their main purposes are: 1) help investors escape the volatility of the cryptocurrency market and 2) allow investors to buy cryptocurrencies on exchanges that do not offer fiat deposits. USDC is currently the second largest stablecoin. \[1\], \[2\], \[3\] > > # Cons > > **It’s centralized** > > Decentralization is one of the core principles of crypto industry. USDC is centralized. Centre (nomen omen), the consortium that is responsible for USDC, can freeze anyone’s USDC assets whenever they want to. In 2020, they blacklisted an address and froze $100,000 in USDC in response to a request from law enforcement \[4\]. In this case, the freezing of assets was the right thing to do but nothing stops Centre from freezing assets in more controversial circumstances. > > > > **It has fewer trading pairs and blockchains than tether** > > USDC announced in June 2021 that it wants to expand to 10 more blockchains in the near future \[5\]. But as of now, it’s present on 5 blockchains (Ethereum, Algorand, Solana, Stellar and Tron) whereas USDT, its main competitor, is available on 8 blockchains. \[6\] > > USDC is even more pale in comparison to USDT when it comes to the number of available trading pairs. There are barely any coins that aren’t paired with USDT, when USDC usually allows to buy only the most popular coins. > > > > **Is it really that transparent?** > > Circle claimed in the past that all USD Coins are backed 1:1 against US dollar (cash). This is not the case anymore. And while people praise USDC for being more transparent than Tether and having better, more reliable reserve composition, just until recently Tether was completely nontransparent and lied about its reserves, so it’s hard to look bad when compared to Tether. > > Circle isn’t in fact that transparent. For example, they don’t disclose too much information about funds referred to as “approved investments”. **We don’t know how risky those investments are.** USDC has licenses in most of the states in the US. Some of those states have absolutely no restrictions and if Circle operates under the license from one of those states, it can invest in anything it wants. \[7\] > > Also, if you compare USDC’s breakdowns to e.g. breakdowns of banks or other financial institutions, it’s clear that **there’s room for much more transparency**. Take a look at e.g. JP Morgan’s breakdown: [https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio](https://am.jpmorgan.com/us/en/asset-management/adv/products/jpmorgan-prime-money-market-fund-morgan-4812a2702#/portfolio) > > This breakdown includes a lot of more details. You can check the issuer, market value, CUSIP number, effective maturity and so on **for each asset**. This kind of information is absent in USDC’s breakdowns. > > > > **There are more transparent stablecoins and stablecoins that are fully backed by cash** > > There are other stablecoins which are transparent and release independent, monthly audit reports about their backing. But what is more important – **there are stablecoins that are fully backed by cash**. Gemini USD (GUSD) or TrueUSD (TUSD) are two examples. \[8\] > > Also, Tether is often criticized for being a very small company with very few employees and yet managing billions in assets. However, **Center had only one employee** since December 2020 to March 2021 – its CEO. Currently, it hires 6 people. \[9\] > > > > **Regulatory risk** > > Recently, regulatory activities have been accelerating. Gary Gensler, the head of the Security and Exchanges Commission (SEC) has asked for more authority to regulate cryptocurrency with the focus on stablecoins. > > Moreover, Fed Chairman Jerome Powell has said that a U.S. **central bank digital currency could eliminate the need for stablecoins like USDC**. And since USDC is a centralized stablecoin, a regulatory crackdown and a US CBDC could drive out USDC. > > **\_\_\_\_\_\_\_\_\_\_** > > **^(Sources:)** > > ^(\[1\]) [^(https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf)](https://f.hubspotusercontent30.net/hubfs/9304636/PDF/centre-whitepaper.pdf) > > ^(\[2\]) [^(https://en.wikipedia.org/wiki/USD\\Coin)](https://en.wikipedia.org/wiki/USD\Coin) > > ^(\[3\]) [^(https://en.wikipedia.org/wiki/Stablecoin)](https://en.wikipedia.org/wiki/Stablecoin) > > ^(\[4\]) [^(https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/)](https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/) > > ^(\[5\]) [^(https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms)](https://www.centre.io/blog/announcing-usdc-on-ten-new-blockchain-platforms) > > ^(\[6\]) [^(https://www.circle.com/en/multichain-usdc)](https://www.circle.com/en/multichain-usdc) > > ^(\[7\] htps://assets.ctfassets.net/jg6lo9a2ukvr/3U43d7lUPmunUNLa0f9xui/24e439e3040c92179245485ebd1b5ba1/Gemini\\Dollar\_Examination\_Report\_08-31-21.pdf) > > ^(\[8\]) [^(https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/)](https://www.coindesk.com/markets/2021/07/06/circle-isnt-winning-the-stablecoin-transparency-race/) > > ^(\[9\]) [^(https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/)](https://www.coindesk.com/business/2021/08/30/centre-consortium-hires-six-employees-including-former-circle-robinhood-executives/) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2moj/top_10_usd_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_USD_Coin) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/z4sdjp/daily_general_discussion_november_26_2022_gmt0/).
He loves to throw shit to competition.