You are viewing a single comment's thread from:

RE: Without an easy way to buy STEEM with fiat currency, how can it rise above the pack?

in #steem5 years ago (edited)

I think that the first step may be to create an OTC type trading using escrow, similar to LocalBitcoins. Thank you for the comment. I wasn't so much trying to emphasize the sale of Steem tokens. It was more, the option to buy and sell tokens, directly to and from fiat. If we can only buy and sell steem buy using other crypto, then the other markets will always rise and fall ahead of our altcoin market. This would happen because, in order to buy into the altcoin, you must first buy the other, larger crypto-market, causing an increase in the price of that crypto. If people were able to sell or buy steem directly for fiat, then not only would steem be able to have it's value increased by the buys from within the crypto markets, but it would also be able to receive buys from major fiat currencies, simultaneously. Steem would have two seperate inlets, which would free it from the confines of the other crypto markets, in which it currently is sustained. I would presume, that the growth would be enormous if the platform had enough exposure.