Seems like there's some hype lately about this. Let's say binance gets a node. How is this more beneficial than using blocktrades and/or bittrex?
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Seems like there's some hype lately about this. Let's say binance gets a node. How is this more beneficial than using blocktrades and/or bittrex?
Blocktrades is an OTC exchange and will never compete with the volume of centralized exchanges like Binance. Also Binance already has a node. They use it for STEEM. All they need to do is enable SBD trading. The reason that we need SBD on Binance rather than Bittrex is that Binance is a multilingual exchange. Bittrex is not. In order for STEEM to grow, the currency needs to be accessible and in the language of the all the world users. For everyone else, they don't have options. When you limit usability of the currency for them, they will not invest or want to participate. This hurts STEEM usership and adoption. Imagine getting paid for work with a currency where you can only shop in stores that don't support your language. You may not want to work for that employer.
So why hasn't binnance listed SBD?
Steemit Inc needs to contact Binance and do what all the other currencies do and pay to get it listed.
Did Steemit Inc do that to get STEEM listed?
Who knows. When STEEM nodes needed software update last time, It took Binance one and a half months to get their node updated and synced. My guess is that Binance is getting no support from Steemit Inc.
Am I missing something here
What I am saying is that popular coins don't always have to pay to get listed like STEEM. SBD on the other hand must have to pay. There is no way to know if Steemit Inc had anything to do with the listing of STEEM. It certainly took way longer than any other coin in the top 50. Given that Steemit Inc doesn't support the exchange, I suspect that they had nothing to do with the listing of STEEM.
Sounds like it's easier to just add language translations to blocktrades...
When pretty much everyone in the world in the crypto space is using Binance and almost no one is using Blocktrades, adding language options to Blocktrades would be like adding a bucket of water to the ocean. It won't make any difference at all.
People can just send crypto to Binance using blocktrades.
Very true. Not very accommodating though. When it comes to getting people to adopt STEEM, this is not the way. It would be like preaching to the choir that you want new people to attend your church. It won't do any good.
By the way, why do you want SBD on it anyway, when they already have STEEM?
Like I said before, we are being paid in SBD. If your employer is paying you a currency that you must use in an exchange that doesn't support your language, you will choose some other currency or platform and not waste your time with STEEM platform.