Unfortunately no. Netcoins will not be able to influence the price of STEEM. I wish that wasn't the case.
Here is why:
Netcoins is an OTC exchange. OTC stands for "Over The Counter". It is not really an exchange that trading takes place in the open market. Think of Netcoins like the cash exchange booths when you travel. The booth says "Exchange" and they take your cash for and give you other currency, but it is not really an exchange. You are not really trading on the market. What is really happening is that the booth has different types of money on hand and will buy your money at below the market value. Traders will never use this type of exchange because they will never be able to make a profit and consider the OTC exchange a rip-off. Netcoins will never be able to have any significant market volume to make any difference whatsoever.
Sorry for the disappointing news.
On the brighter side, the listing win was a clear demonstration of what a community of real users can do. There is real value in this. The other competitors didn't have a community and were using bots to almost exclusively create shell accounts to cast votes. STEEM community was still able to beat out bots. There is real value in a community. Compare to facebook or telephone network or any other network of active participants. The network value is proportional to the square of the number of active users. This means as the number of active users doubles, the value of the network grows by 4. Price should be able to mirror value once out from under the market pressure of Bitcoin. To get out from under the market pressure, growth in the number of STEEM users needs to be significant.
@socky can you adopt me? I'm a grandma and Know nothing about trading. Someone ...a Angel Steemer gave me $100 eth on blockio and I have been powering down to trade. I went in and realized I don't know what the #$(& I doing.... Help?!!
Or if u have a a link.
Thanks
Joy
That is a good question that I can answer.
Unfortunately no. Netcoins will not be able to influence the price of STEEM. I wish that wasn't the case.
Here is why:
Netcoins is an OTC exchange. OTC stands for "Over The Counter". It is not really an exchange that trading takes place in the open market. Think of Netcoins like the cash exchange booths when you travel. The booth says "Exchange" and they take your cash for and give you other currency, but it is not really an exchange. You are not really trading on the market. What is really happening is that the booth has different types of money on hand and will buy your money at below the market value. Traders will never use this type of exchange because they will never be able to make a profit and consider the OTC exchange a rip-off. Netcoins will never be able to have any significant market volume to make any difference whatsoever.
Sorry for the disappointing news.
On the brighter side, the listing win was a clear demonstration of what a community of real users can do. There is real value in this. The other competitors didn't have a community and were using bots to almost exclusively create shell accounts to cast votes. STEEM community was still able to beat out bots. There is real value in a community. Compare to facebook or telephone network or any other network of active participants. The network value is proportional to the square of the number of active users. This means as the number of active users doubles, the value of the network grows by 4. Price should be able to mirror value once out from under the market pressure of Bitcoin. To get out from under the market pressure, growth in the number of STEEM users needs to be significant.
@socky can you adopt me? I'm a grandma and Know nothing about trading. Someone ...a Angel Steemer gave me $100 eth on blockio and I have been powering down to trade. I went in and realized I don't know what the #$(& I doing.... Help?!!
Or if u have a a link.
Thanks
Joy