Binance is popular for some other features too such as it is very Fork friendly plus most of the Altcoins can be found listed on Binance.
Yes finally STEEM has nabbed another Exchange and seeing the Popularity of Binance I wouldn't be surprised that STEEM gets a huge Volume gain on Binance.
I hope to see you guys again in my next Post.
well, this is a very GOOD NEWS for steem. Long arguments away, I hope everybody understands this just as good as me.
Congratulations Steemit'ians !
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It's a very good news considering that Binance has had a lot of Success lately.
I hope that success rubs a bit on STEEM too.
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Thank you arunava for making a transfer to me for an upvote of 1.43% on this post!
Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem!
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily?
To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
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This is great news! I am not worried about Steem's future at all, the way Steem is going it will be huge in the next few years, ups and downs in price is part of the game. I am more concerned whether I will be able to be part of the success of Steem or not given the extremely negative stance taken by the government of India on cryptos till date. Cryptocurrencies were mentioned today in the budget speech and the govt seems to be taking steps to curb crypto usage.
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Actually Government has stated that they will be curbing the players that are using Cryptocurrency for Scamming. Plus Finance Minister has openly said that they are actively pursuing Blockchain technology and how the ledger system works.
This shows that the Government might just start taking them instead of Banning it entirely.
Indian Exchanges made about 4000 Crores in Turnover last year approximately which gave the Government about 700 Crores in taxes.
That's a lot of Money to turn down by the Government. I will be more than happy to pay taxes on my Cryptocurrencies as I don't mind paying it.
Plus if there is a situation where there is a ban proposal by the Government the major Exchanges in India will try to rile up the crowd in India and try to petition against the Ban of Cryptos.
See South Korea as an Example.
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I agree for the most part just not quite on the last bit. Govt doesn't give a shit about what middle class crypto traders think. Look at note ban look at the budget, but yes I may be proven wrong.
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If you think carefully the Note Ban brought some Black Money to the Light and thus it was taxed so the Government Profited from that. Plus ruling party kind of Screwed other Parties of their Fundings by doing that. So it was like one Arrow but two Strikes.
The Budget of course is kind of Screwing us although I have yet to read the Entire Budget and then I can tell for sure.
And Currently the rate of Unemployment is at an all-time High and many people are either turning to Businesses or Cryptos to make some Cash so as to start a Business.
I gave an example of South Korea in the previous comment as the Total GDP of South Korea was almost same as the amount of Money that was being traded in cryptos. So the Government budged a little as it could have broken their entire system.
Plus I don't remember who said this but I read somewhere that if China cannot stop Bitcoin than no one can.
I have also backup plans if Crypto ever gets Banned in India also.
Follow these two rules
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Warren Buffet said that, or so I read
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Thanks for the positive update. I hope to see a rise in Steem prices; although I would prefer if Steem price movements are de-linked from Bitcoin price changes. Bitcoin remains a store of value and is not an effective transactional crypto. Hence it will remain to be very volatile.
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Yes, Bitcoin is kind of a Store of value but since the value of STEEM or other cryptocurrencies are pegged in Satoshis so when Bitcoin rises it tends to bring the rest of the Cryptos up with them.
For example the Price of BTC is 10 USD and STEEM is 1 USD but it is pegged at 0.1 BTC.
If BTC price goes to 50 USD in a Bull run than it will lead STEEM price to about 5 USD since STEEM is around 0.1 BTC later it might consolidate and go a bit low and settle say about 2 USD but the fact remains that STEEM increased with the sudden rise of Bitcoin.
That' my thought.
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Steem definitely looks promising from the long-term perspective. Furthermore, with the recent bloodbath on the market, it will definitely clean up all those weak hands and speculators. Believe, invest, and hodl.
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Yeah those weak Holders who are just here for Profit without believing in the Platform itself.
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I think Litecoin should be a bit faster than Ethereum.
But no one has anything over STEEM when it comes to transaction speeds.
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Yes ltc should be way faster than eth.
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ETH is not that fast.
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It is a very wonderful that steemit reached at the 10 position in top cryptocurrency exchange and it is also a good news for the Steamians.
I want to congratulate you and all stemians.
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Congrats to all of us let the Champagne bottles open.
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excellent steem is going up. We need to help steem sharing this community to others
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Believe me I tried telling my Buddies but not even one of them Joined Steemit.
They all think that these are Play Money with no value.
So silly.
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I hope it becomes 20 SBD! :P
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20 USD is a long way to go but I do hope it reaches there.
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too long
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Yeah, that might be the case.
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nice to see steem at $5.22 of right now posting. the more exchanges the better! excellent news.
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More exchanges are not usually better in all cases.
But in case of Binance it's different as Binance has had a lot of progress in just 5 Months.
It has a lot of Volume too.
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in my eyes, steem listed on more exchanges, more word out there, more options and choice is good, can you explain why it would be bad?
it's not just about volume for me regarding the steem blockchain, exposure to it is important to retain the bloggers actively using it, if it's out there, exposed to new people that might bring about new users too, for me it's not simply about market cap.
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Being on more Exchanges is not actually bad per se but it has some downsides too.
As you can see in the above image STEEM is currently listed on 6 Exchanges with one of them being a Decentralized Exchange.
Earlier STEEM used to be on many more exchanges but they closed STEEM support as they weren't getting enough Volume on their Exchange.
You can see in the Screenshot that even Poloniex has only 2.5% of the Total volume Transaction of STEEM.
Now imagine what happens if Poloniex decides that STEEM is not bringing them enough Volume and decides to close support for them.
Experienced people wouldn't do a thing but what about the Newbies. They might sell due to FUD.
For me, I think its good to be at about 5-6 exchanges with an almost equal distribution of Volume. I know that is hardly possible but I can wish right.
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ah ok, super interesting to know. totally understand that now. great points. thanks for sharing. learn something new everyday! :)
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Yeah Learning new things is one of the Perks here on Steemit.
I love it for that.
PS I can't believe I got a 2 USD upvote on my comment.
I guess I should Comment often.
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You got a 16.67% upvote from @bearwards courtesy of @arunava!
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You got a 13.75% upvote from @mercurybot courtesy of @arunava!
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Let's get it
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Thats a great news....More accomplishments to come.
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Yes I think so too.
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Now that's a good news. I have an account in binance
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Great for you.
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You got a 16.18% upvote from @minnowvotes courtesy of @arunava!
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Nice post I upvote ok
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Thanks for the Upvote @dedikurniawan.
I hope I will see you further in my posts.
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