Get Steem Dollar to more Exchanges!
Steem Dollar (SBD) is our wonderful liquid currency for the entire Steem ecosystem. It is tradeable, liquid and transferable, and it's out de-facto currency. It is pegged to 1$ but that peg is only maintained if the liquidity is good, meaning that there are plenty of traders trading it, and the trading volume is high.
A liquid currency ensures low spread, big order sizes at every price level and deep market depth, which is necessary for frictionless transaction, essentially maintaining the 1$ value strictly. (Otherwise the price will just swing above or below that, through speculation, and we don't want this, we want a stable 1$ worth of Steem from SBD).
Yesterday's implementation of Promoted Content was a genius move. Not only it burns the SBD whenever somebody pays for Promoted Content, but it actually increases the utility of SBD, and therefore the demand for it.
Many people were cashing out their SBD to Bitcoin because SBD has no wide range of use yet, but if we add more utility to it, people will actually spend it like real money.
I cannot emphasize enough the Steem Marketplace! And then, SBD will be stable. A currency is only a currency if people use it and spend it. That is what we should focus on with SBD.
But going further, we really need to get listed on more Exchanges:
Steem is already listed on the Major Exchanges: Poloniex Bittrex and Shapeshift.
Steem Dollar is only listed on: Poloniex and Bittrex, but not on Shapeshift, and no others.
So @shapeshiftio please add Steem Dollar!
Everyone should start e-mailing them to add it, or post on the subreddit, and show your support for Steem Dollar!
https://shapeshift.zendesk.com/hc/en-us/requests/new
https://www.reddit.com/r/shapeshiftio
If we get them to add Steem Dollar too, then I think Steem Dollar will become very stable, and it will help us build our community on that. A stable Steem Dollar is very important for our economy, and when the Steemit commerce will expand through things like Steem Marketplace and others, we will become the Nr. 1 Cryptocurrency!
I am very glad that you brought this topic to public. I just want to add some important point . The crucial thing for liquidity providers with high traded volume is quality of the exchange. I am one of them and I am ready to join, but for now the poloniex is only one option. and I have to say this option is not very solid . (low volume , high fees, basic API)
I hope that we will see at least one more option for LPs directly from steemit. in-house. with solid API and no fees. or maker - taker rebate model.
I use Shapeshift every day, I really want them to add SBD, it would make all of our lives easier.
On the other hand we should also focus on our inhouse exchange between SBD & Steem, but I guess time will tell there. The more users the more liquidity I assume.
Hi , I just sent BTC to my wallet to figure out how internal market works. I have to say that I am a bit confused by the matching engine. My LMT SELL orders are on the top of the book (ask side) are not even visible on the market. I see them only as pending orders at open order report . Maybe this is the case of hidden fees. I don't know. My order is probably aggregated with some others on the top of the book for higher price. Difference between top of the book price and my order is only 0.000001.
Second thing I do not understand is even more curious. I saw Mid point execution (between best bid and best ask). The thing you mentioned before. I haven't seen any order front of me and price was filled 0.0001 far from my order.
Well , I am not suggesting anything. I saw plenty of different matching algorithms on the exchanges around tho globe. I just can say , that our market has no pure Price Time Priority and there could be some bot with Mid Point strategy. Maybe there are some different order types for liquidity providers and ordinary clients. It could be nice to see at least description how matching engine works.
At the end I can share my opinion about transferring BTC to STEEM. I saw something like estimated price. This is a bit funny. I don't even know what that means in case of trading. If I am selling or buying , I want to see counterparty. Not the estimation.
I know this is a professional deformation due my job but anyways. I just thought that in-house market will be pro-client oriented. proper wallet (BTC, STEEM , SD) and there will be BTC/STEEM and STEEM/SD orderbooks.
now I have to do a proper research. if you have any materials about this in-house market . I am ready to take a look on it.
I have no idea how the exchange works, but it has to be FIFO in my opinion like any other.
I haven't used it, so I cannot comment on it.
I want a Steem sbd pair on bittrex.
https://steemit.com/steem-ideas/@dennygalindo/let-s-get-a-steem-sbd-pair-on-bittrex
That would be difficult, they only list very high volume currencies as primary ones.
But I hope it can be done later, let's do it!
Need to add to the small ones also:
https://alcurex.com/ They have steem but no steem dollar
A relatively new exchange but growing.
Sure contact them to add it, contact all your exchanges to add it!
Thanks, keep up the good work too!