Today Binance coin (BNB) price spiked over 200$ and is testing All time highs almost every day. Binance build a structure to acomadate all tastes and finally they are taking even more profit as users are, but is this the way of DeFi and decentralization?
In my opinion if you are talking financial freedom and community decentralization this is not the way to go. Right now people are just leaving their money in a centralized exchange, this is not what cryptocurrencies where created for. The way things are Binance can control the "decentralization" with this i mean that when you are working in a centralized company that says that provides DeFi services you are no really in DeFi, you are just working your money for Binance. I don't blame Binance for this because centralize exchanged are fundamental to buy your crypto, in the other hand they are not fundamental for the crypto existence. Let me explain my self, i only let my money in exchanges for the time that i have to exchange coins, after that they are put in a non custodial wallet, this way as long as i keep my private keys or seed phrase safe, i control my money, i am my own bank.
Is Binance smart chain really a DeFi space? It looks like it, it feels like it but it is not. It is just a way to fill Binance pockets, true projects in crypto space don't come from big corporation, come from ideas created by someone and after that the partnerships comes accepting the idea, not the other way around.
Everyone has so many blockchains to explore that don't involve a giant exchange like ETH, Polkadot, Cardano, Tron, EOS, Tezos and more. Why is the need to develop on such a blockchain as BSC. Support the people who are trying to make this world better, this people develop from the heart and not with the short time profit. I am okay with the existence of BSC but i am not okay with the importance it has been given to it.
Decentralization and Decentralized Finance are products of the mind of people who fight for a better world, please don't let it all go to waste. Binance is just another centralized company with their eyes on the profit not in the people.
Best Regards
Cryptopeach
It's over $300 now. It's not making any sense why BNB is pumping so much!