Today Binance listed Nexus (NXS) on their exchange
We here at Steemit want to have SBD listed on Binance and yet time-and-again, Binance continues to ignore us. Binance already has STEEM listed and yet Steemians cannot take their SBD that they have earned to Binance exchange. Binance is loosing money by not making SBD available for exchange. Steemians must take their SBD elsewhere to exchange it.
SBD, like STEEM has the following benefits
- High Capacity
- High Speed
- Massive User Base
- No fees
Also, SBD has the potential to become a replacement for Tether.
SBD market cap: $25,496,402
SBD Circulating Supply: 14,785,409
Binance CEO has published articles here on Steemit. Recently, Binance has created an official account here on Steemit @binanceexchange. It has been verified to be a real account belonging to Binance.
Resteem this post let everyone know we want SBD listed on Binance!
What can you do? I recommend to go over to @binanceexchange and politely suggest that you want Binance to list SBD. Please let Binance know that it is important to you and the Steemit community.
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For a breakdown of how Steemit Rewards system works:
https://steemit.com/steemit/@socky/steemit-rewards-breakdown-a-simplified-explanation-with-illustrations
I don't think sbd is a good replacement for tether unless something is done to permantly fix it at $1
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You are correct if you look at today's supply. The supply is extremely low due to the fact the only way it can be created is through rewards here. The number of Steemit accounts is also extremely low compared to other social media platforms. We are still very new though. Once we get to many millions of users or hundreds of millions of users, the supply of SBD will naturally grow to the size it needs to be to be considered a replacement of Tether. If we suddenly flood the market with enough SBD, then it would have no value.
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This my best valuable post. I appreciate this crypto currency.. I like this blog..
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Great work and its really encouraging!
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I will share it and hope that will help to move forward this project!
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Steem and SBD most..devaluated currency. Don't know the reason. Still can't figure this out.
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I believe SBD will eventually get listed @socky, but there's a school of thought that believes the dollar peg will return.
Maybe that's factoring into their decision somehow?, Or is it something else?.
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The dollar peg will eventually return when there is enough Steemit accounts that are working to earn SBD. That is the mechanism to flood the market with SBD to drive the price to $1. Eventually, it will get there when there is enough accounts.
The reality is that there is more demand for SBD that there is a supply of it. High demand is a good thing. That encourages people to go out and work for the SBD. This helps grow our Steemit economy. When our Steemit economy grows in the number-of-users, then the price of STEEM increases exponentially with the number of users. Steem follows Metcalfe's law.
Metcalfe's Law - The value of a telecommunications network is proportional to the square of the number of connected users of the system (n2).
This means that every time the number of active users double, the value grows 4 times. Facebook followed this value vs. growth law very well. Since there is almost no logistics associated with this business model, such as cost of materials, buildings, employees, utilities, sales, shipping, management, payroll, etc., then the price of STEEM will mirror Value. We are the stakeholders of STEEM. This means that we benefit directly from the growth of Steemit. We are all partial owners of this company. Compared that to Facebook where there is only 1 owner and he gets all the money.
Guess what, Facebook is one of the top most profitable companies in the world. Now STEEM is heading for that position.
Taking extra steps to drive the price down of the SBD peg will not benefit Steemit. To get growth, we need SBD on exchanges. The value will naturally settle out to $1.00. It is just not going to happen today.
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That's a good analysis, let's wait for steemit to get there.
Streamlining the sign up process will go a long way in achieving that.
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You have a good point there.
Part of why it is difficult and lengthy is because Steemit is trying to prevent bots from automatically creating mass numbers of accounts. Maybe there could be some refinement with Steemit screening process. Some bots still get through the screening process though.
Part of the solution is to get people to come around to a new way of doing things. Like keeping track of keys and properly storing them. Much of that requires education and us to educate them. Most of it is going to take one-on-one training and support.
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Time and time again SBD being ignored... like your relentless effort and post about this we must resteem for the hope that Binance will listen someday soon.
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When Steemit grows in numbers to many millions, then we are Binance customer base. They won't be able to ignore us forever.
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True, we are getting bigger by the day!
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I'm not a huge Bitnance fan at all....
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I haven't found an exchange yet that isn't corrupt in some way. To me, Binance seems to be the least crooked exchange. I would like to know your reasons you don't like them.
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Me neither, I still favor Bittrex the most.
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Nexus has been around for awhile so that the listing is quite predictable.
In case of SBD, I think it will soon to be there. As more exchanges are coming and more methods of inter-transfer are going, traders and investors will opt to a more suitable method to transfer funds among the exchanges or their own wallet.
I used to use USDT to transfer around, then TUSD came out, I have switched to TUSD since then. Now, guess what, I'm full SBD now :)
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I actually like Nexus. They are supposedly 51% attack proof and quantum computing proof. That is when miners have enough computing power which is used to take over at least 51% of the transactions. When that happens, then it is possible to make double transactions. It has happened recently with Bitcoin Gold, Zencash, and Verge have all experienced the 51% attack recently. When that happens, it changes the supply and makes the currency holders feel that the currency is not safe (for good reason).
Also the creator of Nexus Colin Cantrell is planning to put his nodes in space so that countries like China can't block the usage. Colin's father (Jim Cantrell) is the cofounder of Space-X. Jim is setting up a manufacturing facility to build rockets to put small commercial satellites in space. The facility is going to be built a couple miles from my house. I also know several coworkers from the aerospace industry that now work at Jim's company Vector Space Systems.
I'm actually happy that Nexus is on Binance. I'm just unhappy that SBD is taking so long to get on Binance.
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Yes we need sbd on binance for sure
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