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[LutherKing]

After a new brief meeting with binance ceo

Elon musk has advised people to withdraw money from centralised exchange systems

He also said people should not invest in centralised systems and also on other crypto when they can earn better with shib

Share your thoughts ?

 

[Emmanuel24]

I don't know what he is trying to insinuate or mean by abandoning the centralized exchange. I personally believe in centralized exchange because it is being monitored by the central. It is not prone to fraudster or hackers. I think maybe he should analyse more on reason why people should withdraw their coin from centralized exchange.

 

[microunit]

So basically he is saying to jump from dogecoin and go into shiba inu coin? and that people should not use centralized banks institutes now but rather people should use cryptocurrency more? This is quite a manipulation he is doing, although he is already doing this for a while now and majority of his followers are almost always trusting his words and following him blindly

 

[Emmanuel24]

Surely he will always get his followers because some people are desperate in having asset in crypto currency. They are ready to do anything to have big investment in crypto. Well, it is left for those that want to follow his words. Possibly he can make people make it someday with his word but as for me I don't have

 

[Niftyicon]

Centralised exchanges are unavoidable where Cryptocurrencies are concerned but when it comes to storing your assets over a period of time, I would agree with Elon Musk that it is better to do so off those exchanges. However, I must disagree with his attempt at manipulating the Shiba markets again, he should let the coin grow at its own pace.

 

[Ononivami1]

Elon musk is at it again. He is bent on promoting the SHIB, but what surprised me is that it the coin didn't record any remarkable price difference despite the backings by the likes of Elon Musk.

 

[Brain]

I don't know what he is trying to insinuate or mean by abandoning the centralized exchange. I personally believe in centralized exchange because it is being monitored by the central. It is not prone to fraudster or hackers. I think maybe he should analyse more on reason why people should withdraw their coin from centralized exchange.

Exactly, even the original poster didn't outline the reasons why Musk made that statement. What's the need to abandon the centralized exchange, you need to convince people to see the need not just saying it as if you are just ordering people to do without a reason. if the central helpe to keep fraudsters away then people will be more than willing to use it. it shows it is more safe than we think.

 

[Emmanuel24]

Elon musk is at it again. He is bent on promoting the SHIB, but what surprised me is that it the coin didn't record any remarkable price difference despite the backings by the likes of Elon Musk.

Do you think Elon musk can be the whale of all crypto currencies?! Never! I don't think so. This is because he has secretive plans. He knows what he's doing. He's trying to confuse his followers not to know the right way. He's just trying to play cunning in manipulating Shiba Inu.

 

[Ononivami1]

Do you think Elon musk can be the whale of all crypto currencies?! Never! I don't think so. This is because he has secretive plans. He knows what he's doing. He's trying to confuse his followers not to know the right way. He's just trying to play cunning in manipulating Shiba Inu.

You don't seem to follow the development around Shiba inu. The memecoin has been enjoying the backing of Elon Musk since the middle of the year and he holds substantial amount of the coin. He is indeed a whale in Shiba inu market and his influence on cryptocurrencies can't be wavered.

 

[cmoneyspinner]

I don't know what he is trying to insinuate or mean by abandoning the centralized exchange. I personally believe in centralized exchange because it is being monitored by the central. It is not prone to fraudster or hackers. I think maybe he should analyse more on reason why people should withdraw their coin from centralized exchange.

I agree. Perhaps Elon Musk should not have used the word "abandon". I get that people are really pushing DeFi and decentralized exchanges are becoming popular. But centralized exchanges are not going away. Even if Elon Mush says so. Both exchanges have PROs and CONs. People say decentralized exchanges decrease the risk of hacking because of peer-to-peer. But some people prefer centralized exchanges because they like a 3rd party involved in the transactions between buyer and seller.
The difference between centralised and decentralised exchanges - Devprovider

 

[Desmond opara]

Some of these advice from top cryptocurrencies earners just like elon musk I'm not really such advice you should hold up to because they might just say it so that it will be in their best interest why some of them are the advise you are here to because it might just be in your own best interest so firstly I will advise you to your review before accepting any advice

 

[Balint098]

People here misunderstand something, by what he means 'centralized' is centralized crypto exchanges like Binance, Coinbase, and others. He urges people to use decentralized crypto exchange that offer more flexibility than the centralized counterparts. It has nothing to do with regular banks since all banks are centralized, and there's no such thing as decentralized banks.

 

[Wisdom01]

I really don't know why he is making such remark ,I think cebtralised exchange platform have been helpful for people to hold the coin more ,or probably he wants people to move to a decentralized exchange platform so they could easily purchase the coin ,no one actually knows the plan and route he is taking concerning Bitcoin development

 

[GoldenLady]

Elon Musk has always been controversial. As much as the use of centralized exchanges like Binance can place users at a disadvantage, it's also the model that most government are comfortable with for now.

Also, these exchanges are profit oriented and are always looking out for ways to please their users.