Every weekend we are watching Bitcoin going couple of hundreds of dollars down. It has become exchange markets normative.

Question begins, do we really need the Bitcoin to sustain this and all the other crypto projects? Unfortunately or (under current circumstances) - yes. Bitcoin is a flagship of the crypto armada and when it's flowing strongly other cryptos are following. When it's going for a bearish dive, same standard applies.

Even though these dips and drops are a nice quick buck adventure for short-term traders they are damaging the crypto concept and the community.

Imagine a crypto newbie investor: He buys 2. 5k or 1 Bitcoin. Suddenly the price goes down. He panic sells for fiat while loosing couple of hundreds dollars, strongly determined never to invest in this "scam" in the future. Bad, bad, bad.

We lost a person who could spread a message to the family, friends, masses after all.

What about Bitcoin decentralized bank storage?

Something similiar already exsists but I am not sure how effective it is.

If there are enough honest devs and people who could run the project of Bitcoin decentralized bank which would eventually be seen as a semi-decentralized because these bitcoins would be freezed and held in the vault.

For which purpose?

Well, if enough bitcoins are places into the vault, we could avoid p/d schemes by the large whales and their attacks and manipulations of BTC price. Those who have their bitcoins deposited would receive an interest as the time passes by. This would be seen and recognized by the common people as a positive sign of improving Bitcoin status as payment service and will decrease a fear of BTC hard volatility, thus making it a much more reliable currency than it is now.

Steem contra-Bitcoin volatility solution aka exchange independence

As I am just a crypto enthusiast, In this paragraph I will offer my humble opinion of how Steem should avoid this market madness.

First of all: we need a community-based exchange website that is dedicated only to FIAT>Steem/SBD and backwards exchange. This would highly separate us from the Bitcoin whirlpool if the project gets the attention of all Steemit users and investors.

Prior to this stage some technicalities needs to be solved like: providing enough budget for this service to work without delays, problems with deposits and withdrawals, keeping the exchange safe from DDoS, and building a strong encryption.

After all the work has been done. The project should continue to the next phase.

Steem Debit Card

Exactly. Steem debit card that can be funded either with liquid Steem from the netwok or with the exchanged EUR/USD/GBP fiat, probably signed by VISA as an international card.

With Steem debit card you could withdraw from the ATMs, and Steem exchange account could be loaded directly with FIAT with common banks issued credit/debit cards.

Achieving this step would be a breakthrough for Steem and Steemit.

This would mark an independence from Bitcoins volatility whirlpool that is already doing a damage to the Steem price, Steemit community and the crypto world in general.

Our main goal in this project would be to save Steem from abusing by the current exchange schemes and the most important...

...making Steem available for the masses and users without using Bitcoin as a third party in the transactions.

Of course, this project will need large support by all members of the Steemit community, investors, enthusiasts, financial experts, IT experts and others. But just by making this large developers community and crowdfunding would make an exceptional example of how this crypto universe has to work for every individual involved in to to be able to prosper from his/her's contribution. It would have a massive advertising/marketing impact.

And in the end. It would set much greater aims to achieve by the whole of Steemit community.

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# What do you think?

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