When Steemit.com becomes the largest crypto-exchange in the world!

in ideas2reality •  7 years ago 

Poloniex has shown themselves to be incompetent time and time again, and since Steemit.com already pay for all the traffic it receive, it only make sense to open up trading for other currencies right here on our very own Decentralized+Centralized hybrid exchange.

Many of us have waited for months on Poloniex to withdraw funds, apparently they were too busy trolling in the trollbox then paying attentions to tens of thousands of new users signing up every month thanks to Steemit.com.

So why do we need external exchanges when Steemit.com in combination with ChainBase & the proposed Community Token DEX obviously can do a much better job.

Our Systems will in the future be capable to do a whole lot more than just blogging, commenting, upvote & send funds.... Just sayin..


Thanks for reading - hit me up at http://steemspeak.com for voice & text chat

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Just... Bitshares DEX.

https://bitshares.org/

  ·  7 years ago (edited)

i think you meant to write http://www.openledger.io
its the bitshares open ledger decentralized exchange that lets you send it SBD or STEEM and u can exchanmge it for bitcoin!

wow i should have realy bought more ICOs like that DICE ethroll ice man i shoulda bought that i was going to but i had ethereum wallet issues oh well

Future is now!! Thanks

yes very soon steem will be cross all those ,

I couldn't agree with you more @fyrstikken.... Instead of profiting poloniexs horrible platform, why not just buy and sell other cryptos on steemit?!
GREAT IDEA

The community is full of ideas and we have capable men that can make these ideas come to pass. I am then wondering why we have to keep talking instead of doing.

This is an amazing idea but I guess it does not take too much to kick off things especially as we already have the market running.

Can @fyrstikken bring this subject matter up for other witnesses to vote on if that is all that is required to make things happen.

Thanks for posting...

nice post, vote me and follow me please

I would primarily trade with the new exchange if one were to come out.

Until then I have more faith in STEEM than other alt cryptos.

I agree with you @fyrstikken. when there are other ways that it is easier and practical, why should we wait and choose search which is actually longer and twisted.

Thank you for sharing this wonderful article, it's great idea.

Respect for you my bro @fyrstikken

I might try to make a few trades before leaving Poloniex with my $50 USD.
I've lost a bit while trying to trade crypto. But I probably should leave Poloniex.
I'm also on Bittrex with like $400 worth of BTC too. But there is that BTC fork coming.
People say you should hide BTC in a wallet before the August 2017 fork comes.
And I feel like that is probably good advice.........................

What will hapen in august 2017???

thanks

@fyrstikken you really come out with brilliant ideas. It would be real opportunity to see the decentralise exchange in realty.
In the meantime wanted to share an update with you. I recently completed the research on the influential whales on Steemit.
I term this project as #whalesanalytics. This week's research was aimed to identify the whale accounts which are popular than the founders of the Steem itself.
I am really happy to inform you that you have more acceptance in the fellow steemians. You rank 7th in the list and ahead of one of the co-founders of Steem.
You can check the complete research based post here. Steem is a really wonderful platform.

The vote is one of the most powerful thing that people can do, it make leader that will lead to success for the nation, the worst is it make also a leader that caan destroy a nation

But here in Steemit the vote from you is the most powerful things that you can do to all people who needs your help

Upvote, comments, and follow people that are new here, guide them to get there success.

Upvote and follow me,
I will do the same

Brilliant idea @fyrstikken then we wouldnt need to use blocktrades or changelly for the times we want to tx out of STEEM or SBD. Traders could find this a great idea too complete transparency about what is going on with the tx orders would be a very welcome thing, and if its all on Steemit all the better.

You got a upvote (not worth much sorry) & resteem.
Steem on beyond the moon, we know we can go further than that.
Good luck to us all.

There are major problems with DEXs from a technical standpoint that make them uncompetitive with centralized exchanges.

Basically, its physics and privacy. Blockchains are both slow and somewhat transparent, neither of which is suitable for an exchange at scale.

So if we wanted a Steem exchange, it would be best to build one privately and go from there.

Hi @fyrstikken, this sounds like the sensible thing to do, I will love it.

Totally in favor of the idea @fyrstikken... Absolutely steemit can be much much more than a social media platform, a blogging community or fund transfer route. Other crypto currencies' exchanges and transfers should be the next milestone that steemit should be looking at. Afterall why would a steemian want to go elsewhere if the facility is provided here itself. Wonderful idea and hope that it sees the light of the day sooner than later. ✌️✌️Peace..!

Dan larimer will think otherwise, he already has bitshares. Dont you guys think steemit as an exchange will make it a centralized platform considering the transacation fees, trading and exchange policies? Let's see how steemit Dex playout however

First of all Dan is no longer part of Steemit Inc. Second Dan does not "have" Bitshares..He is no longer a developer for that project nor is an "owner" of that project. Steemit.com is an App run by Steemit Inc so Dan would not have any say in the matter.
I guess it's possible to build an echange using the Steem Blockchain however it would have to be independent of Steemit.com since Steemit Inc is a registered company in the US and that would expose them to certain regulations regarding AML & KYC.
The idea is good in principal but it would have to be undertaken by a seperate entity.

Looking forward to this kind of solution. Poloneix is dead to me after freezing funds,not processing withdrawals, stopping currency withdrawals and refusing to answer support tickets.
In the meantime there are much better exchanges as alternatives.

what other exchanges do you think are better than Poloneix?

BITTREX!!!!!!!!!!!!!!!!

It depends what you are after. There are many I have used but I have never had such a bad experience as that with poloniex. If it was in a mainstream industry it would be bankrupt by now.

For steem etc I used Bittrex and have had no issues with them.

  ·  7 years ago (edited)

@fyrstikken this will be a perfect idea and we are actually on the same thinking page: I indicated why people should stop whining and buy more steem yesterday on my blog post-pls feel free to check it out. This plus adding solid revenue streams like targeted advertising (that matches the concept of steemit) will certainly change the playing feld to our advantage. Its time we use innovation and design thinking to add value and make steemit a force to reckon with. Good post and you earn my upvote-always.

I am of minority. I am different. I am evolved.

Amen to that, amen

Can't help thinking this is how it ought to be.

I agree, lets put it into action and thus stop procrastinating. Action speaks louder than words

I want to be your friend.

  ·  7 years ago (edited)

Follow me and I will make you fishers of Crypto

Hi friend

Advertisement is an entirely untapped realm.

Point

@fyrstikken -With the recent issues on Poloniex, your point has been reinforced. Since Steemit already has all the requisite infrastucture, supplementing the platform's abilities with a DEX exchange certainly would make sense. Thanks for sharing this thought. I am sure it will get acted upon by Steemit developers soon. Upvoted.

Update on my end is that I am doing a 'Photospeak' series with my memories from Africa - with just a photo with minimal words - Letting the picture speak for itself mostly. I request you to check Photospeak #1: Man vs. Nature when you have time and provide your comments. Thanks

I cant wait

This depends entirely on how steemit will grow over time, i hope to be sooner

@crypto-rev got you a $0.44 @minnowbooster upgoat, nice!
@crypto-rev got you a $0.44 @minnowbooster upgoat, nice! (Image: pixabay.com)


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You don't make much sense.

I would love to see that as well on the internal exchange. Even if we could have a few other coins. I would be happy if even just LTC was added. So there was LTC / SBD, LTC / STEEM and STEEM / SBD

I think it gets a lot more complicated with regulations though probably. At that point they would possibly have to have everyone register to be on the safe side for know your customers laws in the United States. I'm not really sure. They probably feel safe with STEEM / SBD because of SBD just being debt on STEEM.

Nicely said! I felt so bad for people that had trouble with poloniex. I hate to be in that situtation.

Hmm if Steem also becomes an exchange, won't the witnesses hold to much power? I'm not talking about the current witnesses who I'm sure are trusted members of the community who have done a lot for the platform. But if you get to control as much money as an exchange, won't this give a strong motive for ill-intentionned people to become witnesses? As we all know, elections aren't the most secure system, it's not impossible to rig/destabilize them. It would still be very hard to do, but not impossible.
I love the idea of a fast and stable exchange, I'm just pointing out it would increase the risks of an attack on steem.

Very interesting idea. Is there anything concrete planned?

Let's do it! How can I help?!

As I noted in a respone to another comment:

I guess it's possible to build an echange using the Steem Blockchain however it would have to be independent of Steemit.com since Steemit Inc is a registered company in the US and that would expose them to certain regulations regarding AML & KYC.
The idea is good in principal but it would have to be undertaken by a seperate entity

AML and KYC can be sidestepped with anonymously creating accounts with STEEM, ETHEREUM, or BITSHARES. @someguy123 could be a dev to help with project.

This is great after all, very good news.

hey check out STEEM PARK GRAND OPENING ! I went with my kids it was awesome! Beauitful!!
https://steemit.com/steemit/@ryan313/steempark-for-artists

The future is looking great for steemit , im looking forward to it and spending many more years on steemit ! I have been using bittrex since this happened , I would love it if the whole process was easier , and we could just do it all directly on steemit ! Great post thanks for sharing ! 👍👍👍

@fyrstikken , this is an excellent idea. It generates money. (fees). Blogging now , do you know how that is generating money for Steemit ? I.e. bloggers buying steem to switch it to Steem Power (which gives tremendous returns after 2 years) Or are their any other ways which causes buying pressure for Steem on the market ? Btw Poloniex are croocks , screwed me 1 time , it won't happen a second time. All out !

fyrstikken how about a mocking melody on poloniex?

I don't love you. I have a question for you though.

yes

If you have a question for @gary-wood, you'll have to go through me.

Sure, what do you think about robots talking to each other?

I think it's a beautiful thing. Love in the time of cholera but without the cholera kind of beautiful.

The idea is great but stepping on the two boats at the same time might sink you in the ocean, and that is why i think that steemit should stick to its core purpose and that is blogging @fyrstikken

Ironman, what is your function?

In theory, I agree with this but I must caution against trying to expand Steemit beyond its core. There have been many internet successes that begin to expand services only to utterly fail because they failed to maintain the core.

Wow! Thanks for such a valuable information. If this happens every one of us would be happy.


Bye bye poloniex, I am waiting since 29 days for a support ticket...

1 Etc missing

Hey I am ready right now! Please open for business. I have many orders to place...

Great thought, this is only the beginning of STEEM.

Who has the capabilities of creating that... I sure don't lol

I have no idea what you just said, but it sounds brilliant.

You have been doing the same to me for the majority of my time talking to you.

It is a privilege to talk to me 😎

Why do you say that?

The matrix told me...

What if told you that the next big matrix is called DEX?

Good idea, one day I hope we get the direct STEEM <-> USD conversion but until then a STEEM DEX would be awesome. I would be happy to move my business to it from Bittrex if the platform operates as well as steemit.com does. We could also have a bunch of new trading pairs opened up against SBD maybe?

ETH/SBD, BTC/SBD ... would be neat, especially if we got SBD under control a little better.

One of the best ideas i have heard. Would be great for those new to crypto as well.

image

I agree, but the rollout should be slow to encourage growth and avoid delays, crashes, etc. So if they added LTC or ETH first, that would be great to use and beneficial to Steemit users. Add to that a blocktrades type of quick digital conversion and you have a winner!

We don't need poloniex anymore, only a bunch of incompetent people running the site

사용자가 운영하는 환전소가
각 나라별로 생길 수 있다.
그것은 실험이 필요하다.

Wow, thats a very good marketing concept
especially to terminate cooperation with
those who showed them self unworthy
to partner with ( polinex) but as the name
already suggests its ex, its History :)

Keep Steeming move on Fighterstikken

I would be thinking of EOS with this idea. Not that its not do-able on the steem platform.

Hello @fyrstikken ! How I wish this comes true as soon as possible! There must be many others like me who find it quite difficult to buy some steem right now! It is so complicated!
If all is done through steemit, that will surely be a great thing indeed!
Btw it is amazing to see how you are responding to all the comments! You rock!
Remember last night !?
Cheers
@progressivechef

Hey, can't we just create our own decentralized network, each member from each country, that will really solve the problem if you could directly exchange sbd for local currency.

Can't wait to see how Steemit grows. I still can't believe people were forced to wait that long for their money on Poloniex.

obviously it will become the world largest crypto-exchange soon.

Upvoted sir @fyrstikken.. thank you for sharing.. :)

"Our Systems will in the future be capable to do a whole lot more than just blogging, commenting, upvote & send funds"
Will be great..

Thanks for sharing

The humans.

i agree with you.. theres more for ur here in steemit... a future and a platform for all of us...

this looks to be a good idea Poloniex is no less than a cheater

  ·  7 years ago (edited)

Amen man! Stuff @poloniex! We don't need them!!!

We don't need them at all.

I did not say that you need to meet them.

  ·  7 years ago (edited)

Either way. They were the first guys I tried to exchange cryptos with and they screwed up the first time I deposited. Got my money back after 2 weeks when my deposit was worth more than 50% less! I'm not going to use them for exchange anymore. They've disabled STEEM/SBD again BTW! RESTEEMED...

Wear those masks? Of stoicism, like Kirsten Stewart?

I'm not sure what you mean bro!

Do you even remember the beginning of this conversation.

But how will that help you decipher my voice?

Good idea. However, in reality, I am just commenting to try and work out what your replies are about :)

This will be amazing if we had our own currency exchange here.
It will save so much time and with steemits growing user base many people will flock to this new exchange.
Hopefully this becomes a reality!

Tell me about monkeys.

Tell me about the flat plane of the apes :)

Really ????

lmao :) Better come and talk with me on http://steemspeak.com ;)

Can't wait to see what new things the community brings. As for Poloniex forget about them. They are just a fraud

man you have shared a perfect ideas, such ideas by the people like you would surely make steemit a great place, thanks for sharing

If steemit can do mining of cryptos definitely it can exchange. Diversification is good.

The only positive i can mention about Poloniex is that thanks to my discovery of Steemit, i logged into my Poloniex account and discovered i had some ETH stashed there..

respect for you my brother good idea
@machhour

I do trust of steemit exchange can become leader of exchange in the world by our supported to steemit.com, the dream can true. Could us!

i also have lot of hopes that steemit will be top in nearest future

This would also make it possible for people to exchange Steem or SBD for many other currencies, improving the volume on both. Good idea!

great post bro

i hope this is the near future man!!it makes me impatient. so many great ideas

DQmPLjAgZMee3ta5GYE7PjnGEhn9F9dbgxzzb9KeShAUJsT_1680x8400.png

i am new here Do support me

Nice! Poloniex sucks!
Anyway, please follow me back so that we can become friends

Nice future. Thanks for share @fyrstikken. I like reading your post.

What is going on with Poloniex? It seems like they are changing the way they do business. This new platform would better serve the Steemit Community, can't wait to learn more about it.

follow for follow @dkinx

Nice! I will come to your website, Now I use my 100% upvote on your post.

I do agree if steemit can make this possible it will be absolutely amazing and perfect

it would be cool i steemit added other cryptos to our market!

Love the idea...with these things added to Steemit, we will get more and more penetration into the new 'user groups'. Good idea.

I have posted ideas to make steemit colossal using Uber/Fiverr/Apple Store - please let me know your feedback!

The crypto stuff is a bit confusing right now, with so many variables/influences and even complexities, but I think steemit has real substance and will grow and grow.

lol

You are right. I only buy my steem from straight from the platform nowadays, so easy!

Steemit all the way

  ·  7 years ago (edited)

When Steemit.com becomes the largest crypto-exchange in the world

Hi @fyrstikken, more self-reliant we become on the steemit, more it will benefit the community as a whole. Earlier you do it the better. All the best!!

I agree... Makes perfect sense to have exchange services embedded on Steemit. Where should we propose these kind of ideas? SIP (SteemitImprovementProposal)

Isn't Poloniex shooting themselves in the foot? Why would anyone want to continue doing business with them after that?

great

I do not believe it is relevant.

Lol.

(Is that relevant?)

That's very old, for a computer. Are you the size of a room?

I quit Polo long time ago, this will be a huge leap if Steemit becomes an exchange.

Finaly :)

Thank you

Let's buy and wait the great day :)

follow me back pls

@fyrstikken just out of curiosity, has

Poloniex has shown themselves to be incompetent time and time again

Worked to their benefit, or their loss?

I've seen lots of people complain about losing huge chunks of cash because of their slowness in processing transactions.

"Fool me once, shame on you. Fool me twice, shame on me."

Nice post, thanks for sharing :)

What you said is right, steemit.com should be capable to make this happen.

fyrstikken what do you think needs to happen so we can make steemit.com exchange a reality?

You are on point.

Very good post, let steemit grow to that level, then it will be very cool to all of us..

Yeah I mean IDK why steemit.com would replace Polo. There is a lot running behind the scenes for an exchange.

Why would anyone want a centeralized exchange these days unless if provides the features, margin and liquidity that traders want?

but dont you think. if we are upvoting and sending funds to other, there would be thousands pokerface in this world

I have been thinking the same thing... is a steem exchange being worked on or developed?

It's amazing when you think of it. Steem is the best blockchain technology ready at this time and will only get better. What an incredible opportunity for us all. Go Steem.