Do we know that though? And how can we know that?
Aside from that though, they will still need that initial inventory to get enough of an order book set up to show a fairly liquid coin.
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Do we know that though? And how can we know that?
Aside from that though, they will still need that initial inventory to get enough of an order book set up to show a fairly liquid coin.
Do we know that exchanges run fractional reserves? It's happened enough times in the past that I'm pretty confident it is the norm.
Maybe they do need to have inventory to set up an order book, but ... that doesn't really build value for steem, at least not for any significant portion of time. We've been here long enough to see steem get on a good many exchanges. The price continues to decline. Exchanges are not the answer.
Certainly not the whole answer, but they are part of it. Especially with exchanges being extremely local in who they serve when we are talking about a global product. There are regions in the world where you cannot buy steem yet you can get on the steemit platform... that shouldn't be.