Why I'm NOT EVEN SLIGHTLY upset that Binance is pulling out of the US (THE REAL STORY)

People are bugging out on Twitter after today's announcement that Binance will, in the very near future, disallow US citizens to participate in their exchange.

First of all, most of the posts I've read are written by people who clearly don't know the whole story, and their knee-jerk reaction is to start tripping like the last time you were at the bowling alley and crossed the line to fall flat on your face. I'm also willing to bet that these are the same people who panic-sold $BTC last week when it made its INEVITABLE correction, and are now crying in the corner.

Let's get one thing straight - Binance is NOT a decentralized exchange. It is a massive, for-profit corporation that holds your private keys, and by that very definition, goes against everything "Crypto" stands for.

Another extremely important point most people fail to mention is that Binance is releasing a DECENTRALIZED exchange, IN THE US, in the near future, that complies with US regulations.

I freaking love this situation, for 2 reasons in particular:

1. We remove this massive, centralized entity that people slobber over like it's Rihanna and Brittney proposing a 3-some with them.
2. Removing such a massive market entity leaves an enormous space for other exchanges to fill in. And anyone who knows the first thing about business knows that competition is HEALTHY for any market.

Long story short, when I read the news that centralized Binance was pulling out of the US, and I read the reactions on Twitter, I literally LOL'd.

Dovi

Twitter - @doviscrypto