A couple of users like @penguinpablo, @arcange and @lukestokes have periodic posts showing the movements of Steem to and from the internal wallets to those that are on exchanges. I believe only about 25% of liquid Steem is on exchanges and seems to mostly be for trading. In particular, some of the Korean exchanges have much larger volumes that the Steem that they hold certain days. I think that only a portion of Steem sold comes from those powering down from their Steem wallets. This could be a weakness asking for a listing as DPOS protocols are incentivized to stake and not really trade...
Sounds like what normally pushes a coin's price up, low token velocity, in this case may hold it back if it just moves at too low volumes. Also sounds like the most important thing might be getting those on Korean exchanges to deposit into CB, but is CB-pro available in Korea? I never see trading pairs in KRW on the CB exchange when I look at markets for any coin.
Very well recognized that adding a star is not all there's to it. But I read somewhere that coinbase had a list of coins they are considering and steem is among them. Wouldn't that suggest that steem inc. has applied already or am I wrong to assume that?
That's awesome! Hopefully they have applied already (since would be nice to see them going after it) but actually, all that matters is that CB is already considering STEEM. So then we just have to do the starring and also motivate folks holding STEEM to start depositing it there, even though they'll have to wait to be able to actually sell it that way.
So we didn't make the cut. This campaign should have been held in the Jan-June period to persuade them to take a look at us. I expect they didn't consider us because nothing much was happening on Steemit. The developers should have been putting out many small updates/hard forks, but instead kept delaying in order to do one big update (which didn't go well).
I think we've missed the boat, for this year at least.
No, thankfully that was just their first push. Those aren't the only 5 coins they are considering adding, just the ones that are probably at the top of their list of consideration right now. They explicitly said just weeks ago that they want nominations of more coins and intend to add dozens. That's why they created that new listings.coinbase.com form, to organization the application process for all the applications they expect to now flood in.
That said, if they already ruled out STEEM last year, they may not take a second look this year, but we can't be sure. So let's keep campaigning for it and at the very least, perhaps we'll simply attract the attention of more investors.
I have 10 steem in my wallet that I could use to power up right now, but would transfer to my CB account. Just so I can put my money where my mouth is, so to speak.
I wonder if enough of us could do that to be enough for CB to consider it a go to move on to the 2nd step in their process. Do all the coins they decide to invite deposits for progress through all 4 steps, or is it possible to fail a step?
Really good points @indigoocean - I don't know the answers to your questions but it is really valuable that you have put this out there for those in the know to shed some light on it. I personally like to keep my Steem Powered Up.
Yeah, I don't think it's we daily users who are going to create this new trading market for STEEM on CB. Maybe some of the folks trading on Binance will move over there? Maybe some of the witnesses can do it?
This is the first time I seem to understand the process of adding a coin. Let's see what comes next but it will take some time to get steem up to that point.
Yeah, I wonder if we're ready for listing there. And if not, what will it take so that we are?
Of course, STINC has lots of STEEM. Maybe they could make some available that is normally held off market. This would increase the circulating supply though. Isn't there some sort of schedule for how that's supposed to be done over the coming years?
Team Ownership
The ownership stake retained by the team is a minority stake. There should be a lock-up period and reasonable vesting schedule to ensure the team is economically incentivized to improve the network into the future.
You're saying you don't think STEEM will qualify to get listed? I wonder if this applies to coins with no working prototype, not more mature coins like STEEM. Clearly the company is demonstrating they are incentivized to improve the network by the fact that they're working so hard to do so for years now, with still more major innovations planned for next year.
While I hope that STEEM gets listed, I don't think that requirement is met and until STEEMIT INC. changes that, coinbase might not allow STEEM to be traded.
It also happened at coins.ph and was forced to settle in the leadership of @surpassinggoogle. We made a video request and not only by email to campaign to have STEEM at coins.ph. As of now we only have,
When it comes to crypto, some of my favorite folks on here to read are @pandorasbox@kingscrown and @newageinv. You should definitely give them a follow.
Hi!
Charge me and I will vote for ya.
A couple of users like @penguinpablo, @arcange and @lukestokes have periodic posts showing the movements of Steem to and from the internal wallets to those that are on exchanges. I believe only about 25% of liquid Steem is on exchanges and seems to mostly be for trading. In particular, some of the Korean exchanges have much larger volumes that the Steem that they hold certain days. I think that only a portion of Steem sold comes from those powering down from their Steem wallets. This could be a weakness asking for a listing as DPOS protocols are incentivized to stake and not really trade...
Sounds like what normally pushes a coin's price up, low token velocity, in this case may hold it back if it just moves at too low volumes. Also sounds like the most important thing might be getting those on Korean exchanges to deposit into CB, but is CB-pro available in Korea? I never see trading pairs in KRW on the CB exchange when I look at markets for any coin.
Very well recognized that adding a star is not all there's to it. But I read somewhere that coinbase had a list of coins they are considering and steem is among them. Wouldn't that suggest that steem inc. has applied already or am I wrong to assume that?
Posted using Partiko Android
That's awesome! Hopefully they have applied already (since would be nice to see them going after it) but actually, all that matters is that CB is already considering STEEM. So then we just have to do the starring and also motivate folks holding STEEM to start depositing it there, even though they'll have to wait to be able to actually sell it that way.
I cannot confirm it though, I might have read it wrong and not sure from who I read it. so take this rumor with a grain of salt:)
Posted using Partiko Android
This campaign to get listed on Coinbase has come too late.
Last year (2017) Coinbase asked people on twitter to nominate coins they should look at. We all duly tweeted about steem to them.
Then in July 2018, they announced a shortlist of 5 coins:
https://www.cnbc.com/2018/07/13/coinbase-considers-five-new-coins-for-its-platform.html
So we didn't make the cut. This campaign should have been held in the Jan-June period to persuade them to take a look at us. I expect they didn't consider us because nothing much was happening on Steemit. The developers should have been putting out many small updates/hard forks, but instead kept delaying in order to do one big update (which didn't go well).
I think we've missed the boat, for this year at least.
No, thankfully that was just their first push. Those aren't the only 5 coins they are considering adding, just the ones that are probably at the top of their list of consideration right now. They explicitly said just weeks ago that they want nominations of more coins and intend to add dozens. That's why they created that new listings.coinbase.com form, to organization the application process for all the applications they expect to now flood in.
That said, if they already ruled out STEEM last year, they may not take a second look this year, but we can't be sure. So let's keep campaigning for it and at the very least, perhaps we'll simply attract the attention of more investors.
I have 10 steem in my wallet that I could use to power up right now, but would transfer to my CB account. Just so I can put my money where my mouth is, so to speak.
I wonder if enough of us could do that to be enough for CB to consider it a go to move on to the 2nd step in their process. Do all the coins they decide to invite deposits for progress through all 4 steps, or is it possible to fail a step?
That's a very good question
Really good points @indigoocean - I don't know the answers to your questions but it is really valuable that you have put this out there for those in the know to shed some light on it. I personally like to keep my Steem Powered Up.
Yeah, I don't think it's we daily users who are going to create this new trading market for STEEM on CB. Maybe some of the folks trading on Binance will move over there? Maybe some of the witnesses can do it?
This is the first time I seem to understand the process of adding a coin. Let's see what comes next but it will take some time to get steem up to that point.
Yeah, I wonder if we're ready for listing there. And if not, what will it take so that we are?
Of course, STINC has lots of STEEM. Maybe they could make some available that is normally held off market. This would increase the circulating supply though. Isn't there some sort of schedule for how that's supposed to be done over the coming years?
As taken from coinbase's token listing policy(https://listing.coinbase.com/policy#token-sale-structure). Not the case with STEEM.
You're saying you don't think STEEM will qualify to get listed? I wonder if this applies to coins with no working prototype, not more mature coins like STEEM. Clearly the company is demonstrating they are incentivized to improve the network by the fact that they're working so hard to do so for years now, with still more major innovations planned for next year.
While I hope that STEEM gets listed, I don't think that requirement is met and until STEEMIT INC. changes that, coinbase might not allow STEEM to be traded.
It also happened at coins.ph and was forced to settle in the leadership of @surpassinggoogle. We made a video request and not only by email to campaign to have STEEM at coins.ph. As of now we only have,
We are hoping to add STEEM...
I sure hope it does happen.....now I am very new to crypto and most of what I'm learning comes from you.
When it comes to crypto, some of my favorite folks on here to read are @pandorasbox @kingscrown and @newageinv. You should definitely give them a follow.
On your word, I will definitely check them out.
Thanks!