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RE: Campaign to get SBD listed on Binance Oct 5, 2018
Just curious what's the draw of getting SBD listed on Binance? I get that it would be cool and maybe bring more attention to Steemit but Binance deals with Steem so if you need to sell for cash or other cryptos is there a downside to just swapping SBD for Steem on our own market and then sending it over to Binance?
SBD is not available everywhere in exchanges. What is worse is that when it is available, then the exchange doesn't offer a multilingual option. This means for anyone else in the world that wants to earn using this platform are just out of luck. If a currency doesn't include multilingual options, then it is not for everyone of the world. This means limited growth and acceptance world wide.
That is really impactful because the value of STEEM is expected to follow an exponential increase with respect to the number of users. Eventually, we can break out of the Bitcoin dominance with number of users. But, that is not likely to happen anytime soon as long as the currency here excludes multiple languages.
SBD on Binance will be a major step in correcting the SBD language issue.
The other problem is the internal market. That market works OK until the SBD/STEEM amount is too large. Then the trading volume can't support the exchange. If someone with a large STEEM or SBD transaction comes to the market, they can wipe out all the fairly priced market trades and force the price one way or the other. We need other outlets for SBD/STEEM trading.
Very well stated socky! 👍
Resteemed!