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Weird flex, I'm fine with my comment and promise that I won't edit it any further. Yes, the downtime was yesterday, scroll up on the thread that I quoted. The

Weird flex, I'm fine with my comment and promise that I won't edit it any further. Yes, the downtime was yesterday, scroll up on the thread that I quoted. The FUD started with this tweet: https://twitter.com/Travis_Kling/status/1602400700192985100 https://twitter.com/Travis_Kling/status/1602400700192985100 The point being that this is FUD, and HN is pushing something full of it. Which is gross and low bar. If Binance does go belly up, it won't be because of USDC withdrawals being paused. It will be a lot deeper than that and will likely cover USDT, since the majority of their customers are outside of the US (or at least should be, legally) and because, well, USDT. Hours after that tweet you quoted (which was at 12am), things are processing as normal.

jjulius 4y ago
>The point being that this is FUD, and HN is pushing something full of it. Which is gross and low bar. With all due respect, the FUD in this thread is coming from you. Taking a look at Binance's announcement about the downtime[1], it mentions withdrawals and deposits both being frozen yesterday morning for a "network upgrade and hard fork", and that ended at about 11PM Eastern[4] yesterday. The withdrawal freeze that this HN thread is about only happened ~3:30AM Eastern today[2] because "[they] have seen an increase of withdrawals" and they needed to perform a swap through a US bank, and deposits remained available (a key difference between the two freezes). These were two separate freezes that you are conflating into one. >Hours after that tweet you quoted (which was at 12am), things are processing as normal. They only started processing as normal at ~11:54AM Eastern, just now[3]. [1]https://www.binance.com/en/support/announcement/binance-will-support-the-bnb-smart-chain-bep20-and-bnb-beacon-chain-bep2-network-upgrades-hard-forks-001faab308054a789b7f800a2c1ffcdf https://www.binance.com/en/support/announcement/binance-will... [2]https://twitter.com/binance/status/1602579775721283584 https://twitter.com/binance/status/1602579775721283584 [3]https://twitter.com/binance/status/1602708590271385600 https://twitter.com/binance/status/1602708590271385600 [4]https://twitter.com/cz_binance/status/1602510004795367424 https://twitter.com/cz_binance/status/1602510004795367424
- latchkey 4y ago
  - jjulius 4y ago
    I... never said that you did? I know you don't, your first post suggests that you and I both want to see crypto go up in flames. That said, defending Binance isn't a prerequisite for spreading FUD. What I'm saying is that you are wrong about this withdrawal freeze being a "pre-announced downtime for a hardfork on their BSC chain" - it is an entirely separate freeze. Here's a really condensed version of what's happened here: Binance: "Hey guys, we're gonna have some down time soon for a fork." Binance: "Hey guys, here's our planned downtime." Binance: "Hey guys, our planned downtime is over." Binance: "Oops, hey, there have been a lot of withdrawals, we're freezing them." HN: "Oh wow, there was a run on Binance and now they've frozen withdrawals, shouldn't they have the cash?" You: "Stop spreading FUD, this was just a planned downtime." Me: "No it wasn't, here's proof." You: "This is FUD, it was just a planned downtime." Me: "... here's more proof?" You: "I said I wasn't defending Binance." Make sense?
    - latchkey 4y ago
      > You: "Stop spreading FUD, this was just a planned downtime." Certainly, except that isn't all that I said. After the above, you dropped: * You: Here is a bunch of links of people getting withdrawals no problem.
      - jjulius 4y ago
        I'm sorry, but where? You've linked to three Twitter posts... https://twitter.com/cz_binance/status/1602510004795367424 https://twitter.com/cz_binance/status/1602510004795367424 * https://twitter.com/cz_binance/status/1602676998094069760 https://twitter.com/cz_binance/status/1602676998094069760 https://twitter.com/Travis_Kling/status/1602400700192985100 https://twitter.com/Travis_Kling/status/1602400700192985100 ... and I'm scrolling through the replies and not really seeing anything about anyone confirming functional withdrawals. But that's ignoring the fact that third-party claims of functional withdrawals are irrelevant to my point. None of those claims would change the fact that this downtime was not "pre-announced downtime for a hardfork on their BSC chain". Binance themselves have publicly confirmed this today, regardless of what you're saying third parties have claimed. * Okay, so you have to click through the shared Tweet on this one, but this appears to be what you're getting at. The few tweets from people at the start of the thread confirming withdrawals all posted during the time that Binance themselves said withdrawals were frozen, and they conveniently offer no actual proof of a successful withdrawal. Scrolling further, there are other people who commented around the same time (or even more recently, since Binance announced they'd resumed) who have been having trouble performing withdrawals. Unreliable anecdata at best.

jjulius 4y ago

>The point being that this is FUD, and HN is pushing something full of it. Which is gross and low bar. With all due respect, the FUD in this thread is coming from you. Taking a look at Binance's announcement about the downtime[1], it mentions withdrawals and deposits both being frozen yesterday morning for a "network upgrade and hard fork", and that ended at about 11PM Eastern[4] yesterday. The withdrawal freeze that this HN thread is about only happened ~3:30AM Eastern today[2] because "[they] have seen an increase of withdrawals" and they needed to perform a swap through a US bank, and deposits remained available (a key difference between the two freezes). These were two separate freezes that you are conflating into one. >Hours after that tweet you quoted (which was at 12am), things are processing as normal. They only started processing as normal at ~11:54AM Eastern, just now[3]. [1]https://www.binance.com/en/support/announcement/binance-will-support-the-bnb-smart-chain-bep20-and-bnb-beacon-chain-bep2-network-upgrades-hard-forks-001faab308054a789b7f800a2c1ffcdf https://www.binance.com/en/support/announcement/binance-will... [2]https://twitter.com/binance/status/1602579775721283584 https://twitter.com/binance/status/1602579775721283584 [3]https://twitter.com/binance/status/1602708590271385600 https://twitter.com/binance/status/1602708590271385600 [4]https://twitter.com/cz_binance/status/1602510004795367424 https://twitter.com/cz_binance/status/1602510004795367424

latchkey 4y ago
- jjulius 4y ago
  I... never said that you did? I know you don't, your first post suggests that you and I both want to see crypto go up in flames. That said, defending Binance isn't a prerequisite for spreading FUD. What I'm saying is that you are wrong about this withdrawal freeze being a "pre-announced downtime for a hardfork on their BSC chain" - it is an entirely separate freeze. Here's a really condensed version of what's happened here: Binance: "Hey guys, we're gonna have some down time soon for a fork." Binance: "Hey guys, here's our planned downtime." Binance: "Hey guys, our planned downtime is over." Binance: "Oops, hey, there have been a lot of withdrawals, we're freezing them." HN: "Oh wow, there was a run on Binance and now they've frozen withdrawals, shouldn't they have the cash?" You: "Stop spreading FUD, this was just a planned downtime." Me: "No it wasn't, here's proof." You: "This is FUD, it was just a planned downtime." Me: "... here's more proof?" You: "I said I wasn't defending Binance." Make sense?
  - latchkey 4y ago
    > You: "Stop spreading FUD, this was just a planned downtime." Certainly, except that isn't all that I said. After the above, you dropped: * You: Here is a bunch of links of people getting withdrawals no problem.
    - jjulius 4y ago
      I'm sorry, but where? You've linked to three Twitter posts... https://twitter.com/cz_binance/status/1602510004795367424 https://twitter.com/cz_binance/status/1602510004795367424 * https://twitter.com/cz_binance/status/1602676998094069760 https://twitter.com/cz_binance/status/1602676998094069760 https://twitter.com/Travis_Kling/status/1602400700192985100 https://twitter.com/Travis_Kling/status/1602400700192985100 ... and I'm scrolling through the replies and not really seeing anything about anyone confirming functional withdrawals. But that's ignoring the fact that third-party claims of functional withdrawals are irrelevant to my point. None of those claims would change the fact that this downtime was not "pre-announced downtime for a hardfork on their BSC chain". Binance themselves have publicly confirmed this today, regardless of what you're saying third parties have claimed. * Okay, so you have to click through the shared Tweet on this one, but this appears to be what you're getting at. The few tweets from people at the start of the thread confirming withdrawals all posted during the time that Binance themselves said withdrawals were frozen, and they conveniently offer no actual proof of a successful withdrawal. Scrolling further, there are other people who commented around the same time (or even more recently, since Binance announced they'd resumed) who have been having trouble performing withdrawals. Unreliable anecdata at best.