Here’s Why Many People Think BitTorrent Token (BTT) Getting Listed On Binance Is Not A Big-Deal
In a welcome piece for the Tron/BitTorrent community, the folks over at Binance have recently announced their decision to list four trading pairs with BTT following the completion of their initial distribution formalities (that were carried out with all of Binance’s Launchpad participants).
#Binance Lists BitTorrent (BTT) and Completes Distribution for Successful Launchpad Participants and Additional Airdrophttps://t.co/y86k9sZJkY pic.twitter.com/6SACE8K6zi
— Binance (@binance) January 30, 2019
Many From The Crypto World Are Not Impressed By BTT
According to an official blogspot released by Binance, three of the four new trading pairs that will be making their debut on the premier crypto exchange include:
- BTT/BTC
- BTT/USDT
- BTT/BNB
Trading is all set to begin on the 31st of January at 10:00 AM (UTC).
In addition to all this, it is also worth mentioning that thus far, BTT tokens have been sold by Binance via its native token launch platform called ‘Binance Launchpad’. In this regard, for buyers to see whether their procured tokens have been delivered to them, all they have to do is go their distribution history (where they will be able to see their updated balance sheets).
With that out there, it should be noted that earlier today, former BitTorrent exec Simon Morris took to the internet to state that the Tron network did not have “enough capacity” to process huge volumes of BTT related transactions. In response, Justin Sun stated that his company was going to be making use of “hybrid on-chain/off-chain exchanges” in order to facilitate all of the aforementioned transactions.
Lastly, it has just come to light that Binance users have recently shredded a shady BTT sell-off— wherein 28 percent of all BTT tokens were sold off to unnamed parties before the commencement of the official company sale event.
Final Take
Despite BTT now having entered the crypto mainstream, a whole host of Binance customers are not happy with this listing. For example, there are many users who claim that BitTorrent is not “legal” and thus the company should have no right to enter the global financial sphere. In the same breath, there are also those who have compared BTT to BitConnect (a project that turned out to be one of the biggest crypto scams till date).
On the matter, an altcoin enthusiast by the name of Luc Hammers was quoted as saying:
“BTT is the new Bitconnect. It was one big hype to increase the value of TRX. Justin Sun is a con artist.”
