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RE: The Guiding Mission, Vision and Values of Steemit, Inc.

in #steemit5 years ago

There is a Ether based micropayment social media called Cent.

There is a LN based micropayment social media called Y'alls.

If by your logic, listing Steem on Exchanges means better awareness, How many exchanges must Steem be listed if it were to grab mindshare away from Ethereum and Bitcoin?

That is why in my opinion listing on Exchanges does little to the ecosystem as a whole, other than creating more avenues for arbitrage and pump and dump.

Mass listing on exchanges is a strategy for a shitcoin. I haven't resigned to the narrative that Steem is a shitcoin.

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Since Bitcoin is on every exchange and is a trading pair with just about everythig, then STEEM would have to be on every exchange and be the major trading pair of everything else to break away from the Bitcoin dominance. That is not going to happen.

STEEM is far better than Bitcoin in terms of transaction time, cost to transfer, and scalibility, and yet none of that matters. All that matters is how many exchanges a coin is on and how prevalent the coin is as a trading pair.

Ever wonder why Litecoin does so well? The simple fact that Bitcoin and Ethereum take so long to transfer and costs are so high creates a need to have a tool to transfer currency quickly and cheaply. It is called Litecoin. We can take over the need that Litecoin provides, but first we need to be everywhere Litecoin is.

Exchanges are fully aware of a need to edge out Bitcoin, Ethereum, and Litecoin with respect to providing an alternative to them as central trading pairs. This is why most major exchange have their own coin. They have the unfair advantage of pairing their own coin with everything their exchange has. Binance coin is a perfect example. That coin is growing extremely fast in popularity.

Mass listing on exchanges is a strategy for a shitcoin. I haven't resigned to the narrative that Steem is a shitcoin.

You are making that statement as if only shitcoins have that strategy. That is the strategy for all coins.