Binance listed USDC and not SBD

in #steemit6 years ago

Steem SBD.png

Today Binance listed USD Coin (USDC) on their exchange

SBD is also a pegged coin, but better. SBD has a floor price but no upper price. One can store value there and that value can go up!

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We here at Steemit want to have SBD listed on Binance and yet time-and-again, Binance continues to list brand new obscure coins. Binance already has STEEM listed and yet Steemians cannot take their SBD that they have earned to Binance exchange. Binance is loosing money by not making SBD available for exchange. Steemians must take their SBD elsewhere to exchange it.

SBD, like STEEM has the following benefits

  • High Capacity
  • High Speed
  • Massive User Base
  • No fees

Also, SBD has the potential to become a replacement for Tether.

SBD market cap: $13,911,980
SBD Circulating Supply: 14,574950

Binance CEO has published articles here on Steemit. Recently, Binance has created an official account here on Steemit @binanceexchange. It has been verified to be a real account belonging to Binance.

Resteem this post let everyone know we want SBD listed on Binance!

What can you do? I recommend to go over to @binanceexchange and politely suggest that you want Binance to list SBD. Please let Binance know that it is important to you and the Steemit community.

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Upvoted and Resteemed my friend!

I can agree on the fact that SBD deserves to be listed on Binance but USDC is also not an obscure coin, it is backed by Circle and Coinbase and is one of the best stablecoins present in the market.

OK, two days ago they listed Mithril (MITH). It is a STEEM competitor. Can you believe that?

I think the most important factor for Binance is the trading volume and SBD needs more volume, but when Binance can list Steem, they should not have any issues listing SBD. Also, CZ recently tweeted saying, more stable coins are better for the ecosystem so SBD should be listed for sure

SBD is fundamentally different from stable coins. Stable coins need to have a consistent value, i.e. they are STABLE. Although that was the intent with SBD, and it has a floor value, its price history clearly shows that it is not a STABLE coin.

I wouldn’t trust Tether, and I am hesitant with other stable coins like USDC or True USD. The best bets are trading for actual $ where possible, or bitUSD, mostly on the Bitshares dex.

If Binance was framing this as pick your stable coin, USDC or SBD, frankly that was disingenuous. They are apples and oranges.

The purpose of a stable coin is for price predictability, for the purpose of asset protection/retention or trading. Sure, SBD is a great buy when its value is close to 1$, because you protect your assets with a good chance of significant appreciation. It is a much different story once SBD shoots up to $30. Now your floor represents a 96.67% loss.

None of that is to suggest Binance should not list SBD; it would be great if they did. I just think your rationale is wrong.

Interesting, they are supposed to be adding ETN too, exciting times

the main purpose of sbd was to have the same value as 1 dollar. But time and time again it has failed to perform its intended function. Considering the past history Can it be called a stable coin?

Wow that's pretty amazing if that's an official Binance account.

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