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RE: Opportunity and Importance of Fiat Gateways for Steem

in #busy5 years ago

Man I have got to speak the truth here. I think the steem community is a bit afraid of the fiat gateways.

I have raised this question of 'why don't we have more fiat gateways?' to several senior members over the course of last year only to be disappointed. ( I have talked to these people in person and online).

All these guys keep saying that it is not a priority at the moment.... for me this couldn't be further from the truth. I have come to understand that a lot of people here think that the community would simply start withdrawing if more fiat gateways were to be made available.

To me this indicates a lack of confidence of these individuals in the community and the Steem ecosystem at large. Frankly speaking the lack of fiat gateways is hurting us in the sense that it creates a fear in the newbies that they cannot withdraw easily.

For a newbie the question might not actually be about 'withdrawing the funds' but rather the fact that they feel a lack of control over their money. I am pretty sure that lack of fiat gateways is one of those things that is holding us back.

The outdated thinking of the 'old guard' in disregard of this fact might be working against Steem.

PS: I am hoping to write an in depth post about it and your post is an excellent starting point for me. Thanks!

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This is true but the investment thesis is that the supply will meet the demand of those trying to acquire it for the reasons there are. People wanting to cash out will do it either way bow as well. I believe that the addition of liquidity could attract more proce discovery to properly value the asset.

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