Steem - Lets get STEEM listed on Bitfinex and/or Coinbase!

in #steem10 months ago

Lets get the DAO to fund STEEM listings on Bitfinex or Coinbase, or both!

News out of Bitfinex really caught my attention this morning.

In news out of one of the largest and most widely used crypto exchanges in the world, Bitfinex, it was announced that users can now use credit cards to buy cryptocurrency.

Not just bitcoin, but CRYPTOCURRENCY!

This will in effect give fiat pairs to all sorts of tokens that previously didn't have fiat on ramps.

The exact quote from Bitfinex:

“Buy cryptocurrencies with your debit or credit cards on Bitfinex. Whether it's Bitcoin, USDt, Ethereum, or any other ERC20 tokens, pick your favorite and purchase with your credit or debit cards directly.”

(Source: https://www.bitfinex.com/card)

Wowza!

The rest of the news report can be seen here:

This is potentially very big news for altcoins and hopefully some day, STEEM...

One of the big reasons that bitcoin continues to dominate is the fact that no one can buy many of the other coins without going through bitcoin first.

If bitcoin no longer is the main/only gateway, I would suspect that we will start to see many altcoins start appreciating, possibly considerably, in bitcoin and fiat terms.

(Source: https://blockonomi.com/bitfinex-review/)

Unfortunately, steem is not on this exchange (Bitfinex) yet and I am not sure what it will take to get steem listed on that exchange, but in my opinion, we should make that mission critical as well as getting steem listed on Coinbase.

I know Bitfinex has had their fair share of shady issues over the years, but they are at least trying to clean things up as they did just hire the New York-based blockchain analytics firm Chainalysis in order to get their AML policies up to snuff.

Either way, I think a listing on either of these two exchanges would likely do wonders for the price.

One of the biggest issues I have seen with new users that actually want to buy steem in order to power up their account, is that they don't know how.

Explaining to them how they have to first create a Coinbase account (or some other account), connect their bank account, buy btc, then create a Bittrex account or Blocktrades account, and transfer the bitcoin there where they then have to sell it for steem and then transfer that back to their steem wallet.

When I start going through that spiel I can see/feel their eyes glaze over.

Most just give up because it just sounds way too complex.

(Source: https://socialmediaexplorer.com/social-media-marketing/exploring-the-steem-social-media-blockchain-will-it-pay-to-pay-users-to-post/)

The next best option?

Outside of allowing users to buy steem with credit cards or bank accounts directly off the steemit.com website, getting steem listed on Coinbase or Bitfinex would be the next best thing as it would cut out literally half of the steps in order to fund a steem wallet.

We keep wondering why the price of steem has such a tough time going up, well part of that is that it is so dang hard to actually get people into steem, even if they want to!

The easier we can make those gateways the better.

I know we (Steemit,Inc) is strapped for cash, but perhaps we can make a proposal to be funded with the DAO for steem listings on exchanges, I mean if that is the reason why steem hasn't been listed yet?

Using the DAO to pay for a steem listing on Bitfinex or Coinbase sounds like a good use of DAO funds to me.

Something that benefits the community as a whole and likely has a direct positive impact on steem's price.

What does the community think?

Lets get this done!

Stay informed my friends.

-Doc

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The funds are dead anyway. This has become another whales game of selfrewarding. So good luck with that one.
Nobody seems to care if the proposal is actually good for STEEM and its users, all that counts is if it fits their agenda.

What funds?

DAO funds. 2000 SBD per day.

Yea I have been ok with most projects not getting funding as I don't think much of any of those add real value to steem, though it is a bit annoying that projects that were already being self funded through witness earnings are now (were) collecting DAO funding. It seems pretty difficult to get enough support for something unless you are close with all the witnesses and largest accounts, I do agree with you there.

Steem-Engine is working on the regulatory requirements to be able to allow people to purchase steem directly. While this doesn't appeal to the largest audience of traders, it does solve most of your problem as being an on-chain avenue for people to directly buy Steem and only requires a few steps to power up.

I would love to see Coinbase become part of its Earn program. With all the new upgrades that have come to Steem recently and are about to be adopted, would be a good way to get that news out and allow people on Coinbase to trade Steem.

Yep, it seems like it is tailor-made for Coinbase Earn. Overall Coinbase has listed smaller projects, yet not steem and for the life of me, I can't figure out why...

Agreed. Steem would definitely be a good fit for the coinbase earn.

Great news!

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Well, it would be great news if we could get steem on one or both of those!

why won't they get with the program 🙄maybe in 2020?🤞

Who is "they"?