Binance is harmful for Zcash

Yeah, I don’t see this as a question of chasing Binance either. My point is more about how cutting that off abruptly does more harm to Zcashers than to Binance. It makes sense to diversify and not put all our eggs in one basketbut I’m mainly pushing back against the idea of self-disqualification. Pushing for better terms doesn’t mean we’re chasing disinterest, it means we’re standing firm while expanding better options elsewhere.

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People burning bridges are harmful for Zcash. Thankfully we have people keeping the bridges sturdy.

reminder: I don’t like nor recommend Binance, like Ledger, yet am not blind to the value their provide to the project.

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In my opinion, the games that Binance plays with threatening delisting every year, monitoring tag, bsc wrapped zec etc etc is harmful, they have never been a supporter of the project, however we should be actively seeking delisting from them…

In the past Zcash didn’t have much of a choice but to bend the knee due to lack of DEX services, now we’re in a much more resilient position and now we don’t need Binance, they are becoming less relevant.

The drama that has been playing out has actually been a massive boon for Zcash marketing with many people showing their support for the project

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With ZEC at $30, how much lower can it go even with “bad” news of Binance delisting?

Also, if the survival of ZEC depends on a CEX, perhaps we have made the wrong priorities over the years.

With the delisting incoming, we should thank Binance and move on.

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hahaha, you would be surprised

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we are in a much better position than 1-2 years ago,
now with Near-intents, and other bridges coming.
it may even boost the effort to build infrastructure around DEXes

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I don’t think we need to worry about Binance. If they delist Zcash, it will be good, it will give us an opportunity to lower the average price, and it is better now than in the future when the price is higher. But if Binance doesn’t delist, it will be good anyway, because most people use Binance, but many will realize that they can’t keep their funds on Binance and I believe that the tendency is for people to start withdrawing their coins to their wallets. There is nothing wrong with the Zcash network, we have nothing to worry about, whatever happens will only be temporary, nothing permanent. If it is shut down, it will be good, but if it is not delisted, it will also be good, we have nothing to lose. Price volatility is normal. Risks decrease over time.

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I feel sad just realizing all the difficulties that Zcash is facing with Binance, but that doesn’t worry me. My coins are in my ywallet, that’s what matters. The Zcash network has no problems, that’s what matters. Unfortunately, the value of Zcash is very low (a great opportunity to buy Zcash while it’s cheap), but I believe that in the future the value of Zcash will increase. The value itself is not something we need to worry about too much, what really matters is that we have a strong currency (worth more than the dollar or any other fiat currency) and we are still protected against governments or any other unilateral interventions, because Zcash is decentralized, in addition to being private. I believe that Zcash is the closest thing Satoshi dreamed of for Bitcoin.

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FYI … Binance has opened ZEC withdrawals, but these exchanges are still closed:

  • Poloniex
  • HTX
  • XT
  • … some more?

… and Gate is gradually removing all services associated with ZEC. ZEC is also missing from the Proof of 100% Reserves. Also, many services have stopped mentioning that Gate has ZEC (for example, TradingView). So ZEC will probably be completely removed from Gate.

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  • Bitfinex is also closed.
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Interesting.
Maybe they don’t have enough ZEC liquidity anymore to continue to operate normally.

Near has attracted already more than 100000 ZEC so some might feel the pinch:

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  • Coinex is also closed.

… something strange is happening.

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Most likely they are finding zcashd stopped running and they need to update to the neweset version.

This new version requires

i-am-aware-zcashd-will-be-replaced-by-zebrad-and-zallet-in-2025=1

in their zcash.conf file.

If you run zcashd, please see here!

I’m sure @pacu can assist any exchange that needs help, reach out :slight_smile:

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It would be nice if all closed exchanges were helped to quickly overcome their long-term technical problems, because this does not reflect well on ZEC.

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