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RE: FRAUD: Binance Fails to Return 19441 SBD's to the Steem Community

in #steem5 years ago

They have never had a sbd exchange, you think our users are entitled to send money to any wallet and expect others to retrieve it for them?

I hear your point. I think it would be wise and kind of them to send it back, but crypto users should know better.

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I understand and I do agree with you to some extent.

Chances are they were advised to hold the money. They definitely know what sbd is and have the means to return it.

It doesn't help with user experience as you mentioned. It fuels the reputation that steem is complicated and dangerous.

Althought getting on huge exchanges is awesome, more people should know about this sbd stuck in limbo, especially before dealing with Binance.

In amycase, it's been an interesting topic of discussion.

I agree with all you just said.

It is complicated and that is difficult. It doesn't help user experience, but it is part of the learning experience of owning and understanding why crypto is called trustless. The only person you can trust is yourself. And it still works.

As someone who has only ever keeps dust and ~1 BNB on Binance, I agree. I also own a hardware wallet and am much more knowledgable than average.

I've never lost any crypto since I started investing in it (I lost some stuff from faucets and giveaways from 2014 but it's worth less than 10$ probably except the DOGE maybe that's worth a little more).

I do notice a lot of that SBD is transferred from Bittrex, especially the larger amounts. I assume that a lot of them are likely investors who may not even know the difference between SBD and Steem. I'm not sure what Bittrex says perhaps they aren't making things clear. Many of these Bittrex people (and other exchange people) probably don't even have Steem accounts and if they do, they are just functioning as wallets. Some of them may only be people who just post to Steem from other Social Media and don't engage, they removed their SBD to sell on Binance and now they are screwed because of their own mistake.

Also, a decent part of the rest of that SBD may be from people who probably don't engage on Steem and just reposted the content here when Steem was hot and SBD was given away like candy. I'm just trying to speculate why so many people don't know SBD isn't steem or that Binance doesn't take SBD.

I would have to say my perspective does change a little knowing the majority of that money is probably just investors and people who could care less about Steem.

If Binance sent it to the Dao or Null, I would be happy. However, I am not a victim. It's not really my call here. The only victim I know (post author) seems pretty pissed off.