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RE: Steem's Problems Aren't Unique
Wow, Thank you for mentioning me.
I think STEEM has huge potential as long as we can get multilingual exchanges to support STEEM and SBD. This will enable people from all over the world to use the currency and realize the potential of investing in SP and thus using the platform.
If you haven't noticed, most centralized exchanges are promoting their own coin as a common trading pair. They are trying to edge out Bitcoin's dominance as THE trading pair. STEEM is missing the boat on this. What we need is a centralized exchange of our own where STEEM and SBD are the central trading pairs. The best part of this is that we won't need to rely on other exchanges to keep STEEM wallets functioning.
Isn't that the idea of the SMTs?
All those tokens are going to be paired with STEEM and sold on the internal exchange.
Is that what you are referring or are you saying an exchange where BTC and ETH, for example, are paired with STEEM?
I do not believe the later is part of what is being set up but I could be mistaken.
We need a centralized exchange to compete with other centralized exchanges with major currencies such as BTC, ETH, LTC, EOS, and many others. Our internal exchanges won’t do as it is too slow.
Imagine if we had a Binance like exchange where STEEM or SBD could be traded directly with the top 200 cryptocurrencies out there.
Ah okay. Now I see what you are saying. Yes that would really change how people viewed STEEM and SBD and how much activity there could be surrounding it.
I have not heard of any talk about that. It could be a hundred million dollar idea you just handed to someone.
If STINC would develop it and run it, it would be a huge revenue source and cut reliance from other exchanges. Any excess revenue could also pay for their development costs or..... added to the voting pool.