I wanted to add some money to my Wirex credit card when I realized that depositing Steem had disappeared.
After a small research, I noticed that it's unavailable at more services.
A few recent examples:
Changelly is no longer displaying STEEM
Shapeshift has STEEM temporarily unavailable
Wirex credit card is not working (I think they use shapeshift)
Poloniex disabled deposit and withdrawals again
Poloniex has been 'weird' for a while. They have done this before. I do sometimes wonder if they have liquidity problems. But that's pure speculation from my side.
The problem is they are a huge holder of Liquid Steem. From the 70 million liquid STEEM available (as of writing) they have 25 million in their account.
So the only way to get your STEEM off the Poloniex exchange is to sell it for another cryptocurrency that has the withdrawal option not disabled.
I believe this is putting extra selling pressure on STEEM and that affects the price.
Luckily there are more ways to Rome than one. Blocktrades and Bitrex still work.
The ultimate dream
The ultimate dream for me would be a Steem blockchain that is so big and widely known that Steem tokens would be an acceptable form of currency (all the time) and we no longer have to rely on third parties.
Our own social economic ecosystem.
But as of now, that's not the case and most of the time we have to go to another crypto currency (most likely Bitcoin) before we can spend it.
I am testing the waters when it comes to businesses on the steem blockchain and I am in the middle of a 'small' business deal using only SBD. It seems to work fine so far.
If someone could give me some insight about why STEEM keep disappearing from these services I would be very grateful.
Follow Me @exyle
Bitcoin SwC Poker, download and use affiliate code: Blazin8888
I noticed this today too while trying to move some funds around.
Poloniex, as you noted, has been doing this recently even when nobody else has. Their issues seem to be on their end.
I don't know what's up with the rest of the services, but I agree this is causing selling pressure on Steem. There's a discount here for anyone able to cash in now. $1.20 seems like a pretty solid price to me.
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I can't believe how much Steem is kept on those exchanges, don't the owners know they could power up in their own wallet and earn more Steem!?
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yo follow me up guys for great daily gaming content and a few laughs, follow upvote comment and resteem for more of the best gaming blog on steemit
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It can be sooner than you think @exyle with the rapid growth of steemit.
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I am quite baffled by all these steem issues on different exchanges. Especially as stem had shown itself to be a fairly resilient coin that isn't going anywhere
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I agree completely.
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I think the Steem block chain will eventually get there. However, I believe that we need more Steemit users in general as well more businesses that utilize the Steem blockchain. There should be a network effect here in that the value of the network increases proportionally to the number of users.
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We need official mobile apps, along with this steemit needs a style update, it is an awesome platform, but its attracting money for shitty content types, even those that would dare advertise at the bottom of there posts to try and double tap on revenue, naughty people who care less about the community and more about the money.
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This is not only your dream friend.. 💭. This is probably the dream of the whole stern it community.. I see a bright future for the platform, the way it is built shows extreme rigidity.. Hope the dream comes true as soon as possible..
Love your articles and vlogs and can't wait to see more from you friend, you really inspire people.
Cheers and all the best to you and all your dreams :)
Much love
Goldie
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Thanks, man!
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yo follow me up guys for great daily gaming content and a few laughs, follow upvote comment and resteem for more of the best gaming blog on steemit
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Good one for taking on the initiative to start a SBD business. I don't think are many businesses like your out there and we definitely need more early adopters to drive changes forward. Even if you don't make any money of out the SBD business, it's definitely going to increase the exposure for Steem and other cryptocurrencies to the public.
Staying hopeful for the Steemit community! :D
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I think businesses on the Steem blockchain will be huge one day.
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I wonder what is the timeframe for businesses on Steem blockchain to work out. Honestly, despite having high hopes for the technology, people are slow to adopt what I think is a superior way of doing things. Besides, if I can actually get goods and services using SBD, I will definitely invest more time and effort into such a venture.
Then again, if there are more people like me than like you, Steem blockchain businesses will take ages to take-off. Kudos to you for becoming a pioneer. :D
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Not being a pessimist here, but that's going to take a lot of time. Bitcoin adoption took a lot of time. Honestly, using STEEM as a currency is probably undermining its capabilities. It would be better off to use within Steemit. Would people use SiaCoin or Golem Tokens as a currency? I don't think so, you'd be better off using LTC, ZEC, DASH, or BTC as actual currencies because that's their intended use.
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Of course, it will be used inside the steem blockchain community. I want to buy my goods and services with SBD's.
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Ah, well that makes more sense, using SBD to buy real world items and services.
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Businesses using the steem blockchain seems a good way to go as we have a big steemit community and its growing. It would be good to see if the small business deal is a success. Thanks for sharing.
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I've been using Wirex for a while and it is really useful. Will they start accepting SBD and Steem in the future? They probably will sooner or later and that will be so useful rather than me constantly converting it to bitcoin, putting it in my wallet then transferring it into my card.
Poloniex has already been over run by transactions of steem that they keep closing their wallet.
I think Dan Larimer said that steem is one of the most transacted coin every second which blew away my mind.
I hope when Steem has its social media dominance every site begins to accept steem and you can start buying physical products that come to your just like if you used fiat currency. The best way to promote it is to try and find uses to buy products. I've seen some people selling merchandise and you yourself bought a designer and the more jobs we have the more trust steem may have.
Let's hope this dream becomes a reality @exyle haha
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I think they have a partnership with Shapeshift. Any crypto is converted to BTC and put on the card.
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using steem for everything.. yes! :)
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As I just got a crypto debit card I need to have options to move Steem/SBD to it. We need to show that there is demand for this. Ideally I'd spend SBD directly, but there are limited outlets for this. I hope to see that change
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Agreed. That day is coming. In the next year, Steemit will be ten times bigger and it will have more features. I hope we have Steemit exchanges where people come to us to trade crypto around on Steemit. Also, Steemit video too. Steemit has about 300K users and will have millions next year probably.
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We should have our own integrated exchange in the exchange market.
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I really can't believe people putting their steem on poloniex and not using is on steem itself. They're missing out big time. Interesting blog again. Do you have your answer already? If so, please share it. I'm curious too!
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Great post and it covers a very important question. Why are these exchanges taking the Steem and SBD option away. I've thought long and hard on this and it frankly doesn't make sense to take a top 15 crypto off the exchange. With the amount of users Steem has, you're simply limiting yourself in the ability to make money, which is their main purpose. So why are they doing it?
I won't speculate, but if you walk through the steps logically, none of the answers are good and makes me wonder if some form of regulation is much needed as far as exchanges go in this space. Great post as always man! Have a great day!!
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I don't know what's the matter with poloniex, They block steem withdrawal every now and then. Steem is big and steemit will be bigger. Steem as a currency may turned out to be only a dream. With other tokes e.g. EOS, ethereum and of course Bitcoin, it is pretty difficult.
I even fear for the steemit, though it's becoming popular day by day and it'sprize pool is decreasing greatly, I do think that, in the future it'll face huge competition from other established competitors like facebook and reddit. And who knows if other social media platform starts to pay their users for per posting. People will leave steemit in a single second. What if steemit closes it paying program. What then? If it happens, people will left it and directly the steem prices would fall on the ground.
So, it's the matter of time. Who knows what happens next. Fingers crossed .
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The blockchain/social network can survive, and be useful to at least some people, without STEEM holding a significant value. No ads, censorship-resistant, decentralized, etc.
Or the opposite could happen (down the road) and everyone's moved on from this blogging contest to using STEEM as p2p cash. That's a very successful future!
Of course, we're all hoping for the best possible outcome. But it's a race against time, like with all these crypto projects.
Second-mover advantage can be quite powerful (ex Google).
https://steemit.com/div/@elfspice/announcing-div-my-project-to-obsolete-steem
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I completely agree with you @gigafart. As a long term observer of your blogs, I got a lot about crypto's and steemit as a whole. I do agree if let's say tomorrow, the steemit discards it's reward system and become like facebook, people will move on for sure and steem price would come on ground. But why would anyone use it for p2p cash. Last I checked, the importance would only be given to sunrise not sunsets. No crypto's which are declining, would not be prefreable by anyone especially now we have a lot of crypto's to choose from.
I think steem is only running progressively because of it's reward pool on steemit. Don't you think so?
Take this way, the steemit will be gone.
Personally I hope that day never comes, I love steemit by the way.
Anyways I am a huge fan of yours and respects your opinion.
Thanks for sharing your wisdom @gigafart
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Some people believe the blogging part of Steemit is primarily to distribute the coin. Once it's in the hands of enough people (hopefully spread far and wide), markets to spend the coin should develop organically, and blogging might one day become a side feature.
We already have #steemgigs for freelancing and @minnowbooster for lending. So maybe that's a good start, especially considering our small user base (25k daily).
On the other side of things, we have projects like http://view.ly that use the blockchain for purposes other than blogging. And Chainbb forums and soon @Zappl for different flavors of social media.
So I really look and dream beyond what we have now. I just hope we can get there! xD
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Sometimes I feel that people forget this platform is only over a year old. What it has achieved is simply mind-boggling compared to other projects.
Simply looking at the development of all the apps, the different front ends, the daily user growth. The perfect blockchain that works fast. A social network site that is connecting so many people and education so many about crypto.
And It's all being paid for by the blockchain. It's not costing anyone a cent. I see a very bright future for the Steem blockchain.
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Yeah, I am too looking forward to the future of blockchain. And I think it'll go on the moon until it keeps paying people for their work. Because people nowadays no one care about social media presence, it is all same on steemit and facebook, people care about money. Someone who pays have the power to draw crowd. Weird but it's the truth.
Anyways I like your channel @gigafart. I'd love to see you on my blog. I hope you'd like it for sure, that's a guarantee. :)
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Yeah you could be right. Maybe then, in 5 years, Poloniex will me let withdraw my STEEM...
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Yeah, you should go with Bittrex man . They are still up and Blocktrades is also a good option. @thecoach
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For my next trades I will use bittrex. Poloniex is really annoying.
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@exyle - The disappearance of Steem from some exchanges may be looked upon as negative by some. However, the steady exchanges like Bittrex still continue to list Steem as a trade-able token. I am a total believer in the vision you have stated - that Steemit becomes such a major block-chain that Steem will be accepted everywhere. Given the exponential rise in users and posts on Steemit in recent months, this will surely happen soon. Thanks for sharing your research on Steem trade-ability. Upvoted.
Update at my end is that I have posted a blog with Original GIFs of 💕𝓐 𝓓𝓪𝓽𝓮 𝔀𝓲𝓽𝓱 𝓛𝓲o𝓷𝓮𝓼𝓼𝓮𝓼 that you may find interesting. I would be honored if you visit my blogs and take a look. Your valuable comments will be eagerly awaited. Thanks
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yo follow me up guys for great daily gaming content and a few laughs, follow upvote comment and resteem for more of the best gaming blog on steemit
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I would like to know why steem is being taken off or disabled from the sites too! If you find out, ill be on the look out for a new post from you about it. Thanks for sharing. Please UPVOTE and FOLLOW me, as i've now done the same for you, thanks!
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It will definitely happen very soon , when everybody start accepting Steem for providing goods and services over the internet.
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Steemit still needs a lot of work, this system in nowhere near perfect. Majority of users don't have enough power to push the content that matters, even collectively. And a single whale can push whatever content he wants without any kind of support. So how can we expect the society to accept STEEM as currency before we deal with the power distribution within the platform?
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Mine too. There are no transaction fees for STEEM so that would be great :D
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The world is boundless. Anything is possible. Never say never!
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Good information.....I upvote it and follow.........pls do the same...............share such type of info in future also
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Thats disturbing to read . It suggests STEEM is losing ground rather than gaining it .
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I truly believe that Steemit will skyrocket soon and people will know How powerful of a platform is steemit
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yo follow me up guys for great daily gaming content and a few laughs, follow upvote comment and resteem for more of the best gaming blog on steemit
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crypto is exploding!!! :)
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Patience is all I can say, your dream is going to come true
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I hope to see it accepted everywhere one day too, I think if enough people use it ten it can't be ignored
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Steem will be widely used soon! What we need to do now is to help growing our community
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it recently happened with blocktrades too i guess there may be some technical issues going on.
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Yeah and Bittrex is down for me tonight for automated maintenance so that window just gets smaller and smaller.
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I like your vision @exyle, and I share your wishes.
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Good morning!
Is there a reason why these exchanges aren't accepting Steem currently?
I'm happy to wait a while for Steem to become accepted more widely as I need to collect some more first :)
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Yes, I did hear that Poloniex had some trouble with Steem and when they were contacted they are blaming Steemit for the problem in one of the Voice Channels on Discord, some big shots were having some discussion!
I am FBI, lmao
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the steem block chain will get there. I also need steemit users in for the business
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nom nom nommity nom
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@exyle waiting for steem currency coming in to market with boom
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That is the dream of all of us, who knows maybe one day our dream will come true...
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Well, that certainly doesn't increase confidence in Steem (not on my side, in general I mean) If it keeps disappearing from the popular trade sites, then I can certainly understand if it won't go up up and up for a long time ...
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yes I will totally follow and upvote a totally random strangers spamming a valuable post. Sure ! ... not !
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That is why i am hanging on to all my Steem because I strongly believe this dream will become a reality.
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It would be a good thing if steemit went mainstream. This will only happen as more annd more people find out about it. I think the numbers are still small and the platform needs to be fine tuned to handle more users. Thank you for sharing
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Yea @exyle I am not sure what changelly are doing but its getting rather annoying when steem does not appear and it seems very costly on changelly
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Whatever man, just grill something tasty and forget about it for a month.
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Great Platform and Great Expectation and anything can be happened, we can just expect for something and predict. Haaaaaaaaaaaaaaa
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you can use blocktrades- its an easy and fast way to change steem and steem dollars to bitcoin,ether ,dash and co
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That's troubling that Poloniex has more than 33% of the total liquid steem in existence, wow.
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Hi @exyle did you hear about Blockpay? It's pretty neat.
I just wrote about blockchain (darknet) markets technology, Steemit has a lot of desirable features and I think (darknet) markets were pivotal for the popularity of the Bitcoin cryptocurrency.
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Well maybe in 10 years or so.. let's keep our hopes alive. This would be awesome if it actually happened!
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Wait what.... there are cards that you can put crypto on???
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Yes, theres a few. I find the best all around is Bitpay Visa Debit Card. Has a desktop and mobile app. Heres a video I did on the card.
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It's bad man
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Hi Everybody, hi @exyle didn't know Poloniex has 25 millions.... and totally agree that rely on third parties is a nightmare. Hoping that Steem grows by the Blockchain..!
So, let's make it happens
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