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RE: How one voting bot can increase the value of STEEM
It is a cool idea, but unfortunately any time you start talking about creating a way to go from 'fiat/regular' money into crypto, you enter the regulation game. Right now creating any way for users to easily get 'regular' money into STEEM would be a huge win for STEEM, but unfortunately the regulations to allow someone to do that would probably require them to have around $1,000,000 (guesstimate) to cover the legal costs to get started.
You have a good point. My idea would essentially make this bot into a kind of exchange, which is where it all turns too legalese for me. I should have added "I am not a lawyer" to the disclaimer. :)
This might be a stupid question, but shouldn't Steemit the company invest heavily in such an endeavour? Shouldn't ways to bring money into the platform be a top priority in development and business development? Or perhaps, partner with an existing exchange that can maybe process these conversions without steemit having to deal with the legal headaches?
Just throwing ideas around here. Thanks for commenting! <3
It was one of the top priorities that I suggested for the 2018 roadmap. There may be regulatory issues with them getting involved, but we’ll see.
I do believe I heard @blocktrades say during they Growth Forum they are working on a solution to easily move fiat into STEEM, their success may well open the door to implementing this interesting idea.
This was my first thought; an exchange like @blocktrades is incentivised to fix the fiat to Steem problem. I hope they will.