RE: 💱 Lately I've found it better to trade in ETH-pairings on exchanges and here's why 💱
Thanks for the tips. I have been using litecoin alot as it has been only taking about 10 - 15 minutes for the trades to be confirmed. I might start trying ETH. Just built a tool last night to help when trading steem because I seen some of the same things you are seeing. https://steemthat.com/steem-ether-calculator/
I have considered allowing the sale of our merchandise via Steem or SBD or Other Crypto but it is so volatile that it isn't really good for buying and selling real world items yet. How are traditional currency markets fairly stable? The bigger challenge really is the delays on conversions from crypto to fiat also.
If everyone hopped on board with accepting say Litecoin or Ethereum or some other crypto and the prices could stay somewhat stable that would be sweet for retail sales trades. I'm not seeing anyone building a crypto like this with razor thin margins per transaction and speed and backed to the usd that is pushing for retail sales transactions. I would love to pay for real world goods and services fast with a digital currency or pay online even with one currency and with out having to exchange it.
Yes it is understood by many experts that a 'stablecoin' would be actually game changing and a benefit to all, but unfortunately it is hard to make something that is stable through algorithm alone. I think we will have our stablecoin one day though. It will be worth 1 stablecoin each. How much each is, is of no concern because they are the default currency which we all use. Just like the dollar, you don't ask 'how much is 1 dollar'?
Maybe they're right... it has to do with adoption.
But yes pricing something in crypto probably requires some adapting algorithm that changes the price constantly and builds in some kind of buffer in case of volatility.. :-/