Binance was working normally but CZ’s attitude was not normal

After a sudden shutdown, leading cryptocurrency exchange Binance, with the arrival of CZ, immediately blocked anyone who criticized the company on Twitter. Zhao Changpeng said that blocking the views contrary to yourself will lead to a more prosperous and higher quality life.

Binance was working normally but CZ’s attitude was not normal

As AZCoin News reported, Binance encountered an unexpected outage. At around noon GMT, Changpeng Zhao, CEO of the platform, tweeted that the system was shut down because of scheduled maintenance and transactions were temporarily interrupted.

Throughout the day, Changpeng Zhao regularly updates many trying tweets to notify followers of the progress made to resolve the issue. In the end, the criticism of the day seemed to have caused damage to Binance CEO.

In the following tweet, taken before restarting the exchange, he implies that censoring different opinions will benefit individuals in both their financial and personal lives:

Although Zhao received countless messages of support for the exchange’s transparent efforts during unexpected shutdowns, the criticism did not indulge even after announcing that the systems would work again. In response to the various tweets he made throughout the day, Zhao faced numerous allegations of market manipulation.

Now that the Binance systems have been fully restored, Zhao seems to be doing well with the rhetoric he has shown before. After thanking those who supported the exchange for several hours of trying, the CEO called all those who disagree with him’ suckers.’

Such an explicit censorship expert seems to contradict the broader attitude of the cryptocurrency industry. Ultimately, Bitcoin, the phenomenon of initiating it all, has attracted many proponents to the present thanks to its ability to transfer value in a way that censors and does not have any reliable intermediaries.

That said, the jury still doesn’t know what the hierarchy means to Zhao. In a recent interview with BlockTV, the CEO said there are advantages to a comprehensive centralized system, such as the one operated by the Chinese government.

Zhao is really a cryptocurrency whale?

Despite its negative connotations, Changpeng Zhao admitted to being a cryptocurrency shill. Shilling is the promotion of cryptocurrency, which is often considered a tactic to try and raise the price of a particular asset.

Zhao has stated that he will shill both Bitcoin and Binance Coin (BNB), whenever he gets a chance. He believes that Bitcoin and Binance Coin price increases can only be positive for the cryptocurrency space, but this is a very superficial view.

In a recent tweet, Zhao acknowledged that he caught himself wanting to shill Bitcoin just before its price once again surpassed $ 10,000, acknowledging that the wish might have been ‘too much’. But when Bitcoin soared further to surpass the $ 10,000 level, his previous notion went out the window.

The shilling done by Zhao concerning Bitcoin is not severely rated, as the majority of cryptocurrency investors benefit when Bitcoin’s price is rising. However, there are still other dangers. Zhao was so frank, direct, and sometimes adversarial in his shilling. The most typical example of this is when he urged those who decided to sell their Bitcoin for under $ 10,000, telling them to ‘slap themselves.’

In fact, he went even further when he said that he would eliminate those who are spreading FUD about the Bitcoin price by predicting its price will plummet. Part of the reason for Zhao acting in this manner can be explained in some of the replies to his original shilling tweet, where he first recommended to ‘always hodl ‘and then told that he does not trade in Bitcoin.

Zhao, who famously sold his home to invest in Bitcoin in 2014, turning Bitcoin into a meaningful one. He is a fan-holder and must assume that he has a relatively large amount of Bitcoin stored away, so its price increase is definitely in his favor.

Moreover, because Zhao is a prominent and well-known figure in the fledgling market, his influence on Twitter is probably strong enough to move the market in many cases.

Speculative Bitcoin bubble

Of course, the dangers of wobbling Bitcoin too much exist, and it has been proven before. In 2017, Bitcoin’s rapid rise to $ 20,000 was based on success stories and greatness in the cryptocurrency market – basically shaky.

Individuals who have flocked in and made speculative investments in Bitcoin have created a strong emerging bubble in 2018. Bitcoin is now in a better position of market maturity, but too a lot of swaying can still lead to it being overvalued in the market.

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