The ultimate dream for me would be a Steem blockchain that is so big and widely known that Steem tokens would be an acceptable form of currency (all the time).
I wanted to add some money to my Wirex credit card when I realized that depositing Steem had disappeared.
After a small research, I noticed that it's unavailable at more services.
A few recent examples:
Changelly is no longer displaying STEEM
Shapeshift has STEEM temporarily unavailable
Wirex credit card is not working (I think they use shapeshift)
Poloniex disabled deposit and withdrawals again
Poloniex has been 'weird' for a while. They have done this before. I do sometimes wonder if they have liquidity problems. But that's pure speculation from my side.
The problem is they are a huge holder of Liquid Steem. From the 70 million liquid STEEM available (as of writing) they have 25 million in their account.
So the only way to get your STEEM off the Poloniex exchange is to sell it for another cryptocurrency that has the withdrawal option not disabled.
I believe this is putting extra selling pressure on STEEM and that affects the price.
Luckily there are more ways to Rome than one. Blocktrades and Bitrex still work.
The ultimate dream
The ultimate dream for me would be a Steem blockchain that is so big and widely known that Steem tokens would be an acceptable form of currency (all the time) and we no longer have to rely on third parties.
Our own social economic ecosystem.
But as of now, that's not the case and most of the time we have to go to another crypto currency (most likely Bitcoin) before we can spend it.
I am testing the waters when it comes to businesses on the steem blockchain and I am in the middle of a 'small' business deal using only SBD. It seems to work fine so far.
If someone could give me some insight about why STEEM keep disappearing from these services I would be very grateful.
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I noticed this today too while trying to move some funds around.
Poloniex, as you noted, has been doing this recently even when nobody else has. Their issues seem to be on their end.
I don't know what's up with the rest of the services, but I agree this is causing selling pressure on Steem. There's a discount here for anyone able to cash in now. $1.20 seems like a pretty solid price to me.
I can't believe how much Steem is kept on those exchanges, don't the owners know they could power up in their own wallet and earn more Steem!?
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It can be sooner than you think @exyle with the rapid growth of steemit.
I am quite baffled by all these steem issues on different exchanges. Especially as stem had shown itself to be a fairly resilient coin that isn't going anywhere
I agree completely.
I think the Steem block chain will eventually get there. However, I believe that we need more Steemit users in general as well more businesses that utilize the Steem blockchain. There should be a network effect here in that the value of the network increases proportionally to the number of users.
We need official mobile apps, along with this steemit needs a style update, it is an awesome platform, but its attracting money for shitty content types, even those that would dare advertise at the bottom of there posts to try and double tap on revenue, naughty people who care less about the community and more about the money.
This is not only your dream friend.. 💭. This is probably the dream of the whole stern it community.. I see a bright future for the platform, the way it is built shows extreme rigidity.. Hope the dream comes true as soon as possible..
Love your articles and vlogs and can't wait to see more from you friend, you really inspire people.
Cheers and all the best to you and all your dreams :)
Much love
Goldie
Thanks, man!
yo follow me up guys for great daily gaming content and a few laughs, follow upvote comment and resteem for more of the best gaming blog on steemit
Good one for taking on the initiative to start a SBD business. I don't think are many businesses like your out there and we definitely need more early adopters to drive changes forward. Even if you don't make any money of out the SBD business, it's definitely going to increase the exposure for Steem and other cryptocurrencies to the public.
Staying hopeful for the Steemit community! :D
I think businesses on the Steem blockchain will be huge one day.
I wonder what is the timeframe for businesses on Steem blockchain to work out. Honestly, despite having high hopes for the technology, people are slow to adopt what I think is a superior way of doing things. Besides, if I can actually get goods and services using SBD, I will definitely invest more time and effort into such a venture.
Then again, if there are more people like me than like you, Steem blockchain businesses will take ages to take-off. Kudos to you for becoming a pioneer. :D
Not being a pessimist here, but that's going to take a lot of time. Bitcoin adoption took a lot of time. Honestly, using STEEM as a currency is probably undermining its capabilities. It would be better off to use within Steemit. Would people use SiaCoin or Golem Tokens as a currency? I don't think so, you'd be better off using LTC, ZEC, DASH, or BTC as actual currencies because that's their intended use.
Of course, it will be used inside the steem blockchain community. I want to buy my goods and services with SBD's.
Ah, well that makes more sense, using SBD to buy real world items and services.
Businesses using the steem blockchain seems a good way to go as we have a big steemit community and its growing. It would be good to see if the small business deal is a success. Thanks for sharing.
I've been using Wirex for a while and it is really useful. Will they start accepting SBD and Steem in the future? They probably will sooner or later and that will be so useful rather than me constantly converting it to bitcoin, putting it in my wallet then transferring it into my card.
Poloniex has already been over run by transactions of steem that they keep closing their wallet.
I think Dan Larimer said that steem is one of the most transacted coin every second which blew away my mind.
I hope when Steem has its social media dominance every site begins to accept steem and you can start buying physical products that come to your just like if you used fiat currency. The best way to promote it is to try and find uses to buy products. I've seen some people selling merchandise and you yourself bought a designer and the more jobs we have the more trust steem may have.
Let's hope this dream becomes a reality @exyle haha
I think they have a partnership with Shapeshift. Any crypto is converted to BTC and put on the card.