What am I missing here???
I'm confused by all this Netcoin Hoopla. Let me see if I'm understanding this correctly. Being a stacker I put this scenario into stacker terms. Here we go.
You create a new silver coin. The coin is accepted on the largest online retailer (APMEX, Kito, etc). The coin is doing good in sales but they don't offer shipping. People can buy the coin but not get it sent to them.
Then along comes Swap Meet Louie's Gold & Silver Emporium. He gets about 1% of the traffic that the larger retailers get. he offers to sell your coin and ship it. This is great because they ship, but the volume isn't there. And how is it that this retailer able to ship the coin, but not the larger retailer?
STEEM on Netcoins
Everyone is all hell bent about getting STEEM listed on Netcoins. Let's take a look at this.
STEEM is listed on the largest crypto exchange in the world, Binance. After a month you can finally deposit STEEM into your account on Binance, but still can't withdraw it.
Along comes Netcoins. It's the new hype. Netcoin is ranked #1443 on coinmarketcap. The site has been around since 2013, but very little has been done with it. Here is a look at their roadmap.
From 2015 to 2017 they had one update. Now everything is TBD....after 5yrs of working on it.
Enough about that. Now let's see who is competing. We are just below XVG (a great coin for premium Pornhub memberships) and are just ahead of INS?? A fifty cent coin with a ranking of #258 on CMC.
Next up is PAC Coin....a $0.002 coin with a ranking of #307. Not sure what to say about this coin with such a brief description.
Do you see where I'm going with this?
It seems to me we should be more worried about STEEM not functioning properly on the biggest exchange in the world and not Louie's Emporium. And how is it that STEEM will be able to work on their network and not Binance?
What am I missing here???
Proud member of @steemsilvergold.
Always wise to question stuff and not just rush in blindly @vgholdingsllc!
Couple of points of interest: "Netcoin," basically some nowhere trash coin, as you said listed no. 1400-and-change on Coinmarketcap, has nothing to do with "NetCoins" (https://www.gonetcoins.com/) which is a Canadian based but generally worldwide marketmaker in the crypto world.
That still leaves "Why should we care?"
It's actually a fairly good match, both for Steem and for NetCoins.
What NetCoins gets is a token with tens of thousands of existing active wallets (Steemit's members) who are already actively using the currency... not just "some theory with a blockchain."
What Steem gets would basically be our first direct purchase gateway: Using one of NetCoins' 190,000+ "Virtual ATMs," suddenly anyone would be able to just take their fiat debit card and buy Steem. No sending a bank transfer to an exchange, exchanging fiat for BTC, changing the BTC into Steem and then sending it to your wallet here. Wanna buy $50 worth of Steem? Use your debit card, and boom... you have Steem.
And that's why loads of people — including @ned — are pushing this. Is it going to "make or break" anything? Probably not. But the added layer of convenience of being able to "direct purchase" Steem certainly isn't likely to *hurt."
Thanks for all the great info @denmarkguy.
So I guess my question still is, How are they going to make steem work on their platform when I have STEEM stuck on the biggest exchange in the world and can't send it to my account here? It's been a month. What would happen if the ATM's were down for a month? Seems like priorities are a little mixed up.
I wonder if this has anything to do with the large amount of new accounts that popped up the other day?
I’m only pushing it because Ned wants it. That is the only good reason I guess. I’m one of those corporate ladder climbers in the rat race that does what the CEO says. Ha ha 🤔🤔
I really liked this post and glad you pointed out how this probably will not help much. Didn’t even realize how small the exchange was.
Why do you think so many witnesses and Ned are pushing it?
I wish I could answer that. Seems like a bad game of 3 card monte to me.
We want to win because then we've won. Everyone is excited about it, so I am too. I'm not sure why, but I can't see getting listed being a bad thing. Besides, I want to crush the other coins. Ha ha ha. :)
To me this is the equivalent of beating a Yugo in your new Vette. Winning something like this should be no contest if STEEM were that good.
Ha ha, that's probably a fair comparison. With all the people in the Steem network, you'd think we'd be beating them by a lot more. However, not everyone on Steem is going to vote, and many won't vote more than once. So it's close. Somehow they are leading by 500 this morning after being behind over 1,100 9 hours ago. Apparently they're pushing for it as well.
I just heard about it a day or so ago and everyone is pushing like crazy to get it listed. I kept asking myself why? Your answer is way better than what I could come up with. :)
I'm trying to make sense of it all, but it just doesn't add up. Maybe someone will jump in and explain it..
Well I know one thing. I voted for it once like a good little steemian. They ask for your email and now I have been getting a SHIT LOAD of junk emails. 💩
💩💩💩. Gotcha. LOL
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I have to admit I don't get the point of being listed on something so minor.