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RE: Why Steem Is Lossing Its Ranking?

in #steem6 years ago

It is because our community is the only community that believes that up voting and quality content is what improves price and market cap. We are the only community of a coin that does this. Steemit Inc and our community believes that they don't need exchanges to exist and there is no need to get STEEM listed on exchanges. All other coins are complete opposite. Their philosophy is that for a coin to come out on top and to be used as a currency and a store of value, then they must get their coin on every exchange.

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People don't invest and store value into cryptocurrency because there is a community of bloggers. They use cryptocurrency because it functions as a currency. STEEM fails at being a currency because it is not available in exchanges everywhere.

Let me offer another point of view to @socky's emphasis on exchanges.

Take Litecoin, for example, it is noted that Coinbase moved 25% of the circulating supply to their cold storage.

Think about that for a minute and understand why that coin is being pushed heavily for adoption. In this world, if you can't sell your product, you lose.

Coinbase literally has too much ridiculous of a stake to want LTC to fail on them.