Binance To John Mcafee: Don't Spread False Information
Late in the evening of February 7, Binance unexpectedly closed its doors after experiencing unforeseen server problems. Although it was not a pleasant situation for retailers or anyone with a large amount of liquidity on the popular exchange, the company kept users up to date with the situation with an update:
"Due to a significant increase in users and trading activity, Binance has to extend the system upgrade and is expected to be completed at. 14:00 (UTC).
Our team is working hard to complete this upgrade as quickly as possible. We will publish a message to all users if they are done in advance of the schedule.
Payments and trade during this period will remain suspended. We apologize for the inconvenience and thanks for your patience."
Despite the clear communication from Binance, some opportunistic FUDsters ran on the opportunity to acquire some of the spotlights - including controversial cryptocurrency bull John McAfee.
Posing as a journalist who only seeks to keep his followers as up-to-date as possible, McAfee tweets the following:
If you've learned something from McAfee's Twitter account over the last couple of months, it's that you should not believe in his rumor-based speculation. Binance certainly had none of it and quickly put McAfee in place by professional tweeting:
Checking Binance's wallet address actually confirms that the funds are safe. They currently have over 32,230 BTC, which is worth about $ 255 million. Although it is only Bitcoin, it is reasonable to assume that all other cryptocurrency holdings are also secure.
People who spread false information can, in the worst case, even destroy whole companies and lifes!
It makes me really angry that there are so many people out there telling things that simply aren't true or only speculations, just to gain more followers, likes and whatever. They push themselves by pushing others down. That's a sign of mentla weakness in my eyes.
I hope McAfee didn't post that a bad intention as this would be more than a mean move. Rumors about hacking combined with the word cryptocurrency, which makes a lot of people still nervous or insecure as they almost know nothing about this and so don't really trust it anyways, is like poison to companies in the crypto sector.
Instead of people informing each other about the technology that surely will play a very big role in our future, a lot of people still spread rumors that can cause bad things to companies and scare potential new customers.
I hope people start to think more about what they do, before they speak. If you aren't really sure on whether an information is right or wrong, better be silent before harming others. It's hard to take a rumor back and rehabilitate the own reputation after such a wrong information.
Thank you for sharing this case and telling your opinion to us! :)
As Buddha said:
"If you propose to speak, always ask yourself, is it true, is it necessary, is it kind.” :)
Best wishes!
my binance is down ... so is my kucoin... havent been able to log for 24 hours..
ive realized not to hold any value ever in an exchange... luckily all my real goods arent on there but i have all my little altcoin positions on there because there aint no wallets for most of them yet....
What I noticed is that us.binance.com works now but binance.com does not. You can verify this information in binance facebook forums. trying to help out :)
Oh no, that sucks :(
Luckily you have some real goods and some altcoins left! (Even if there isn't a wallet for most of them yet...)
I hope they'll find a solution for binance and kucoin, soon! :)
Fully agree with both Buddha and you.
Thank you for reading and your nice comment :)
100% agree with you.
When the head of a huge.... massive cyber security company says: there is some issue with security..... all the participants in the space: stops and listens..... and then whether you want it or not: news and rumours spreading at wildfire speed..... And this can damage or effect in negative way the company involved.
This reminds me D.Trumps tweeting for some reason.....
McAfee is clever, but very unconscious. We can expect any shit from his Twitter page.
You're right, just do not feel angry <3
Aaaaw thank you :) <3
Now I don't do anymore :)
I actually do think they had something major.
Maybe it is hack, maybe it is human error...
But looks like they doing HUGE discount to bring people back... a half desperate move to regain reputation?
well personally I'm scared to use them anymore... like 70% that's an excessive discount... that's like closing out sales.... just saying. I hope I'm wrong because if that sale is real I'm gonna buy a bitcoin on those prices.
but sadly that 70% is only for the fees
@wmnstudies it’s 70% on FEES not on the crypto on their exchange lol you are right if btc was 70% off I would sell my house to buy some 😜😂
So, instead of paying $100.10 ($0.10 fee) you pay $100.03 ($0.03 fee). Don't buy bitcoin.
With launching RobinHood exchange, and other zero fees exchanges, I think Binance is just probing the waters. They want to see how the revenue will increase / change when fees reduced that much. This might be just first step, into cheaper fees around on all of the exchanges. The overall winner will be the customer.
The fact is that it is so easy to spread these rumours because there are sooooo many weak hands in the market and many people are living in fear of what is going to happen next with their coins. When you already have so many people with this attitude then it will be easy to spread fud. The fact of the matter is that Binance is still one of the biggest and most trusted exchanges to deal with. From my perspective they have been very transparent. We knew that there was a system update coming because they sent out a message about it and tweeted about it. The fact that they are taking the time to ensure that their systems are running at optimal capacity and efficiency makes me think they are looking out for the best interest. Now, is there a chance of hacking? Sure, there is with everything online and we all know that going in. That is why we all have our coins in secure cold wallets offline or in various paper or web wallets so that in the event that something happens with an exchange you can know that your crypto os safe. Right everyone? The reality is that not enough people are being careful with their crypto and they leave it on the exchange rather than store it cold. If you did have it stored and still wanted to trade you could simple use one of the many other exchanges you are signed up for. The people I do feel for are those who have their crypto tied up in a pending order and it has been stuck on the exchange. Those people are victims of bad luck and timing. I'm sure it will all work out for them in the end but I know if I had lots of money sitting in limbo I would be concerned as well.
The social networks + technology enables to spread the real news / fakes news at the speed of light.
@tradewonk
Never did like that idiot. He really needs a smack to keep him in check, they play around with mainstream news/media and have no clue the damage they end up causing. By simple statements they could quite easily cause irrational panic and tons of people who only follow mainstream news could end up pulling out of Binance thereby collapsing something that was working perfectly fine.
Agree. The guy buy the coins before he promoting them.
If you listen to a word John McAfee says, and actually take them seriously... you have bigger issues then your Binance account being hacked.
Good information bro
These people need to shut their mouth and stop spreading rumour
Binance is great
Thanks for the information bro
hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3
My pleasure
Personally I trust the Binance platform because it is the most secure. Thank you for reassuring US @tradewonk
hi well i'm just new here i'm trying to prouve to my youtub followers that steemit is real .. and i will appreciate if you follow me <3
Binance is a great platform but what if McAfee is right?
I also believe in Binance, wich i also invested in their coin.
I actually think, that they handled the crisis communication part very well! I had no need to use Binance the past 2 days, but even I couldn´t oversee the huge amount on information they were giving out. I´m no big fan of their usual way to communicate (especially after introducing STEEM last week and giving no timeline, when withdrawals would work!), but here they really did everything right to keep the trust of their customers. ...and McAfee is a douchebag anyways 😀
Wonder what issue McAfee has with Binance? It seems like he's randomly picking a fight
God.. I wish I will have a Binance account...