CZ's response to lower Binance fees

His rebuttal is fucking trash. R&D, hiring employees and legal fees aren't reasons to tout high withdrawal fees. Those are business costs, so if you want to say you want to make a withdrawal fee 100x the transaction fee just outright state it's because you're running a business and you want to make a profit. He also bases it on ETH GAS prices, when you can withdraw any coin on the site that have nothing to do with ETH and therefore that entire point is the first giveaway he is making up excused to confuse people. The rest of his reasons are all him over-explaining to make transaction infrastructure seem extremely costly when the main point of crypto is the coin itself takes the brunt of it all via the destruction fee.

He basically just said withdrawal fees are what run their business and control their infrastructure/server costs. He's purposely leaving out regular transaction fees, the refusal to deal with dust, being paid for promos and ICO allocations, yada yada.

Yes, there needs to be a fee. It's to support business costs. No, coins that are worth $.20 do not need $20 fucking withdrawal fees. We've had these systems in place for decades and people forget how we get so much of it for next to free. They are called banks. I pay $1.50 a month to keep my bank account, and I haven't paid any other fee in the 5 years I've been with them regardless of transaction amounts. I've worked for a major US bank. I know what occurs behind the scenes, and though this may be different in ways, it's a similar system. People are gullible as hell when it comes to capitalists acting like everyone is misinterpreting their profits. This business made their CEO a multi-billionaire in half a year. Quit falling for his lies. He's literally on Forbes cover this month touting his profits while making these ridiculous comments acting like withdrawal fees are hurting the company.

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