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RE: The reason your favorite Altcoin is struggling in 2 simple charts
This is a worrisome time for many of the alts as the US (and other countries) begin hammering down with their regulations. I know I was a Binance guy, and have no idea if they will even trade in the two alts I hold come September when they ban the US from their main trading platform. Guessing with the speculation some are hedging their bets in the hopes Binance will make an announcement soon on which alts will be traded there so they don't get stuck if they plummet.
The way daddy gubmint is indicating, we aren't far off from them telling us what we can own and how we can move it and how much moving our property will cost us.
I didn't take it as them (Binance) saying which coins they were going to trade, they just kicked US based users out. Though, from what I read, you will still be able to transfer them out after that date, just can't buy or sell em any longer.
Now, if you are talking about the US compliant exchange they are building, and which coins it will hold, you may be correct in that some of those coins are no longer available.
I can't see why steem would face any of those issues (not being listed), unless there is a lack of volume perhaps? The fact that steem didn't do an ICO is a big plus in its favor with how regulars will look at it.
Yes, I was referring to their US compliant exchange. I'm not so sure what role the ICO part will play. I have read that Coinbase supports EOS which definitely was an ICO. So much uncertainty in all this.
I really don't know what to make of Steem. At times it feels like those who created it don't care if it goes anywhere due to the way they have left it stagnating. I'm hopeful that the renewed commitment from them is real and not just some last attempt at milking what they can for more Bitcoin/fiat before a collapse. If they really don't care, what a shame. From my limited understanding of crypto they have really been letting a unique approach wither. It was unique enough to pull in ignorant skeptics like myself in, then let most like myself leave.
I wonder if there is a way to find out what the US volume for Steem is on Binance for the US. I read a month ago that their total volume from the US was about 15% of the velocity.
Interesting stats. I actually thought it might be even higher than that 15%. I read something recently that said the US accounted for roughly 50% of all bitcoin/crypto trading currently... though I can't remember where exactly I read that.
Regarding steem... I think they are genuinely trying to turn things around now. The unfortunate thing is they are trying to do with no money and a skeleton crew. Which is unfortunate considering this was a billion dollar project at one point. Why they didn't do anything for 2 years or so here is beyond me... I think that is the billion dollar question.
And yes, Coinbase used to be very particular about coins that did an ICO, though that seems to have gone out the window a bit with EOS. Though, remember that not all ICOs are the same. EOS was very careful to make sure theirs was compliant with the jurisdictions they were in, whereas many others were not.
In my eyes, steem should be a no-brainer to get on Coinbase, especially with the Coinbase Earn program. For whatever reason, steem just can't get on there...
I am hopeful that steem is trying to turn things around now. Though with a shoestring budget and skeleton crew, it is harder now than ever before.
this.