Did Binance List Hive on Down Low?

in #hive6 months ago (edited)

WTF Are They Doing?

So there seems to be a Hive selling frenzy, but only on Binance, on the same day that they listed it.

At least, this is as far as I can tell because I had no idea it was happening and I see no announcement anywhere.

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The price is way lower on Binance than any other exchange, and Steem just so happens to be pumping.

I just don't get it. It seems like CZ is doing almost everything in his power to help JS, no matter the risk to his reputation nor the risk to the reputation of Binance.

After they powered up customer's coins, they then turned around and said it was a misunderstanding and started powering down. After the first powerdown, they turned around and gave those coins to JSun.

So now this Hive listing and weird price discrepancy. Oh yeah, and deposits and withdrawals are disabled. Are they just dumping their own coins? What the hell are they up to?

Edit: I was tired and overreacting at 3AM.

CZ did announce it:

Clearly I have trust issues with these guys after all that has happened! There is a bit of work to do in order to rebuild it. Huobi certainly has the idea!

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They announced it on Twitter.

There were a lot of people who had Hive there and it was locked up. Now they'll get access to it and it's on a 600% tear, oh...there will be dumping. Hive was recently listed on 2 other exchanges as well.

Check out the announcement section in the Hive discord.

Yeah, I did a little more research after I posted this at 3 in the morning, that's why I did the edit. I still have to say I don't fully trust them, though. The timing is pretty convenient and Binance have shown favoritism toward Justin before, especially after their first power-down when they gave him the boost he needed to solidify his takeover.

I have fully been expecting the selloff, but I suppose Binance triggers me a bit. Get it under control, Rick!

Yea they’re definitely frienimies at this point haha. Huge exchange, but we know what the deal is. They can play dumb all they want but shady business definitely went down.

LOL! Frenemies. That made me spit out my tea. Best description, for sure.

Yeah, I saw the Tweet that they sent out. I am guessing it is all the people who had Steem on Binance that got locked up because of what they did. Then they got the Hive airdrop and now that they finally listed it they are dumping. Something like that anyway!

Right before the hard fork I had a few thousand Steem sitting on Binance, then when I heard it was forking I panic sold the Steem I had on there in fears the price was going to crash. If I had waited one day, I would have gotten a nice hive drop. But it happens..

I can't blame people for dumping that Hive at these prices. It is interesting that Steem pumped so much, though. I find it bizarre that people are willing to risk so much money on a centralized blockchain that can lock your funds and account at a whim.

Oh wow, that kind of sucks! At least you have a good attitude about it!

Haha, trying to. I am getting a little fed up with doing the wrong thing at the wrong time all the time. It would be good to actually make some money from time to time rather than lose it every time.

Let's just say when I go to Vegas I NEVER gamble. It is 100% loss every time.

I usually stake most of my coins so I would never have anything liquid to make a good trade if I wanted to!

yeah same here. I am powering down a little bit to hold in my wallet for such pumps. I am going to have to see some miniscule return on investment someday. I'd love to be able to show my wife "See! It was worth it".

I am right there with you! I appreciate the community aspect but at the end of all this if I can't show my wife it was worth it then I have failed. When I told her my account value the other day she had no questions 😃

People who decided to stay on steem might have been airdropped some hive there and they decided to sell so they can buy steem.

Yeah, I think that's pretty much what happened. I jumped the gun on this a bit. But I think it was Steemit itself doing most of the pumping.

Good opportunity to buy at Binance? It seems that there may be more dumpers than buyers on Binance, so price should be lower there than on other exchanges. I don't think CZ or Binance has something to do with price manipulation. To me this looks like a supply/demand thing where there are too few people that buy Hive on Binance. Wallets are always fixed 24-48 hours after a listing (right?). I also assume many people will cash out around the 1 dollar mark...

You are probably right. Perhaps I am overreacting, I don't usually succumb to generating conspiracies. It's just that they burned us before so there are some trust issues to work through, I suppose!

And good to hear from you Ruben, I hope all is well!

It seems that there are many dumpers in Binance but I guess it will pick up Sir @nuthman plus steem really is supported heavily with a staggering 1,250 BTC volume today and is resisting dumping too.

It doesn't make any sense to me how people can continue to support a blockchain that can steal your money or block your account at any time. It is madness!