Putting My ~STEEM~ Where My Mouth Is - Up To 1,000 Steem To Exchange
“ideas are dangerous commodities.”
– E. C. R. Lorac –
Wouldn't you like to Power Up a bit?
Make your Steemit votes count for a little bit more?
You can take advantage of my immediate need for some fiat...
I have about 1,000 Steem that I would like to exchange for US $$$. I'm willing to do a no-fee exchange with one or more Steemit users who meet some "basic trust criteria."
Exchange Some Fiat for STEEM
Image courtesy of Vitaly and http://unsplash.com
Last month, I suggested that Steemians ought to:
A few days later, I announced:
Let's start helping each other convert between STEEM and fiat. We can bypass exchanges that are increasingly nosy, intrusive, and shackled by government regulations—let's just start trading STEEM ourselves.
STEEM and Dollars—💰🔁☁️—EXCHANGED Here
"STEEM - Replacing the Dollar Since 2016"
Why use an exchange?
Why do multiple, costly "hops" from Steem to Bitcoin and in and out of exchanges?
We can do this personally and privately. We don't have to wait for permission or for further technical development.
What do you say, fellow Steemian?
Do you have a few extra $$$? Would you like to buy some STEEM?
Power up a little faster, have more STEEM Power to make your votes on Steemit worth more right now?
Details, A.K.A. "The Fine Print."
I have some criteria regarding with whom and how I'm willing to do an exchange. If these points aren't easy enough to understand, please feel free to ask for clarification:
- If you're trustworthy, I'll go first
- By "no-fee exchange" I mean I'll exchange at the current rate published at http://coinmarketcap.com
- You should have a good Steemit reputation (~55+)
- Newbie? A lower reputation will work if other positive factors persuade me you're "A-OK"
- I'll review your Steemit blog (see below)
- If you're local, we can meet personally in a public place, get to know each other, and exchange
- If you're non-local, a PayPal "friends and family" transfer that is immediately available to the receiver will work
- I'll send Steem to ANYONE if we can agree on a mutually trusted intermediary to act as escrow agent
- If PayPal is used, transmitter absorbs any fees
It should be easy enough for me to determine whether or not you're a good "Steemit Citizen". Your Comment/Reply history will show me if you're a kindly interactive person, and/or if you're a "friend of a friend," i.e., known to someone else who I already know and trust.
It's past time we realized that we don't need Coinbase, Bittrex, and etc.—nor their guv'mnt regulation and reporting.
Your Cash for My STEEM...
Image courtesy of Pepi Stojanovski and http://unsplash.com
So, who wants to buy some STEEM?
Come and get it! If you're interested, leave a comment below. We can meet on Steemit chat, and then arrange the exchange...
~FIN~
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I think your plan has merit but agree with @bashadow - perhaps, you could limit transactions to a hundred steem at a time and that way in case of default you won't take too big a hit
Yes, reasonable caution is definitely in order...
But we've got to get started on this. The world is collapsing all around our ears... :O
I agree with the idea of getting away from exchanges and fees and questionable rates. Exchanging direct is the way to go for sure. It's what digital currency was designed to do anyway, right? I wish I had a boatload of cash I could hand you right now for that STEEM. @ironshield
Ah, well, thanks anyway for your interaction, and let me know when your ship comes in...
I really am a HODLer at heart. I have a feeling that Steem will be worth much, much more not too far down the road. I'm just in a spot where some cash right now would be very helpful. ;)
great idea...
your post very nice...
thanks for sharing...
Thanks.
Interesting proposal. I really hope it goes smoothly if you find someone.
Thank you, my friend @inphiknit!
:)
Great idea we need to be the change.... Upvoted and resteemed.
Thanks so much, Mary. :D
Hi - I'm interested: given that I have USD in paypal and the strong pound and the low steem price, this is most fortuitous.
Let me know when you're in the chat: bit busy until Sat, but I have a certain amount of flexibility.
Less sure about how much I'm inclined to sell at the bottom of the market, but let's stay in touch... ;)
Fair enough! I'll catch you in chat sometime, I've probably had a few limit orders trigger anyway, but that depends on BTC-STM of course, rather than $$$-STM... neither of which I'm looking at ATM because I'd rather just bury my head in the sand, or any other soft and opaque medium, than look at Blockfolio.
Hi again...
After a successful exchange with another Steemian today (we had actually agreed in principle to do this a few weeks back) I'm willing to exchange a little more Steem, if you are interested?
If we can discuss and agree on basics in chat, we can proceed. I wrote a brief article about today's exchange, FYI...
Hi, I just read that article and logged into discord to see if you were there, I'll make a point of being online later this afternoon, around 15.00 UCT, or later if that's just not going to work at your end, let me know!
Hi, thanks for responding...
I will try to check in tomorrow morning somewhere around 15:45 UTC to 16:00 UTC and see if you're there...
My handle on Discord is the same as here, @creatr...
OK - I'm actually '@realsociology' on discord. I'll be online then.
Just saw this, looking for you now on discord...
Great to see you putting this offer out there. Exchanging crypto for cash between individual people, peer-to-peer style, is the way to get more people into crypto.
I like meeting people in person, but I have made a small sales of Steem to someone I met on Steemit for dollars through a PayPal transaction. The transaction went well and both of us were happy.
In person transfers are a way to get people started with crypto.
Glad to see you here, weighing in on this topic. :D
I am more than willing to do a PayPal exchange with the right person(s).
I will keep that in mind and appreciate the offer at some point I may do it but it surprises me as dollar is losing its purchasing power each day, perhaps steem has reached a peek appreciate your efforts in the teamwork and setting the example
Hi, Troy,
Thanks for dropping by and commenting.
True!
Not very likely, IMHO...
We have of course seen short-term, temporary "peaks" for Steem and SBD... but, the way the world is going, I will not be surprised to see Steem and SBD continue moving upward for quite a long time.
😄😇😄
Good luck, wish I had a thousand lol ohh to be rich :)
Love the idea, and I've been talking about this with other cryptos as well. Maybe once I get to be a little more "trustworthy" in this community, I'll contact you for some steem! I actually just was asking someone else if it was possible (or already in existence) for there to be some sort of automated third party for transactions such as this so that both parties don't have to really "trust" each other. I'm no tech wizard, but couldn't one design a way so the transaction wouldn't go through until both parties had submitted their payment to their respective, secure, and refundable (in case of something going wrong) digital deposit boxes, one for each. The program sees the payments in the correct amounts and initiates the actual transaction.
Can this exist? What are the limitations?
Greetings, @factionless, and I wish you a Warm Welcome to Steemit! :D
How warm? Well, I'm now one of your early followers, based simply on your fine comment here and on your intro post... :D
Indeed escrow is possible, and I have been told, and have seen hints that the mechanisms already exist within the Steemit blockchain.
While I'm not aware offhand of a "working tool" for escrow, one should be "doable" at least on the Steemit side of a transaction. When fiat is involved, the trouble always arises if there is a dispute of some sort, in which case some sort of arbitrator needs to be available to step in.
I suppose a mechanism could be created (may already exist?) on the fiat side as well, something involving debit cards? But in any case, a large part of my motivation here is to completely get away from the existing banking system.
Thanks so much for your comprehensive comments, and for reading and visiting my blog.
BTW, the thought of @creatr exchanging with @factionless right now is not entirely out of the question... Please see Bullet Points (4) and (8) above, and get back to me if you're interested. ;)
Hey thanks for the welcome and the offer which I will mull over more. If you remember, let me know if you hear more about this magical tool we're imagining, because I would love to know more, and I'm not as literate with programming or cryptos as I'd like to be.
It really shouldn't be too hard to implement, at least on the Steem side. Here's how it would work:
Three parties involved:
A has Steem to exchange.
B has fiat to exchange.
C is an arbitrator, needed ONLY in the case of a problem.
A and B agree on an exchange of a specified amount of Steem and fiat.
A deposits Steem to an automatic/programmatic interface along with B's designated receiving address. A cannot remove the Steem, but can enable it's release to B.
When B transmits the agreed amount of fiat to A, A then releases the Steem to B.
There are two failure cases, requiring the involvement of C.
First case is that B does not transmit fiat to A.
A then goes to C to seek the return of his Steem.
Second case, A does not release the Steem to B.
B then goes to C to seek release of the Steem.
The ideal setup would be a fully automated system that could see and control both transactions. "Mailboxes" if you will, for both Steem and fiat, headed in opposite directions. The system would note when both mailboxes were full of the agreed amount, and would then release both to the exchangers.
If both mailboxes were not properly filled within some specified time window, whatever was put there would be returned to sender...
The time window thing was what I imagined would be a big factor in making a program like this successful. Shapeshift.io uses a time window for precise transactions and this seems critical for cryptos.