I bought a little BTC with fiat about a month ago and decided to convert it to Steem for a bit too see if I can add to it. I don't have much else but steem in my portfolio so I am trying to expand and diversify a little. I dislike waiting for transactions, it makes me nervous. Transferring crypto sucks, no wonder there are so many holders.
It will get easier though.
Eventually people will be accustomed to crypto and will demand simplicity of process and one day, it will be as fast and painless as using any other payment method such as credit cards or bank transfers.
When this happens, the uptake by shops will be fast. Part of the reason mainstream adoption lags is that crypto users still are willing to use bank services. This will change in time and suppliers will move to provide utility for transfer and sale of goods.
Due to the nature of Blockchain, merchants will prefer crypto because it makes their business practices leaner and cuts out a lot of the banking fees. Accounting should be easier also as all transactions in and out can be recorded and verified.
I don't know if it is smart to go into steem today but it is too late as I now have a little more Steem in my possession. My plan is to see if I can make some gains and then move the principle back to the ledger. I used to trade a lot but I just don't have time at the moment and a lot of the action is late at night.
One day I would like to get back to it but for now, it is time to get some rest. Another long day ahead tomorrow before Easter starts.
Goodnight
Taraz
[ a Steem original ]
(posted from phone in bed)
Any day that you finish the day with more Steem then you started with is a good day.
How is the orca comming along. : )
Slowly but surely :D
We do have consistency going for us. Lots of people in the Steem world do not understand the benefits it has over the long term .
I think the biggest holdup on adoption is lack of demand. Merchants won't accept crypto until people start wanting to spend it. It's not just the convenience of banks that makes people not spend crypto. It's the idea that you buy something today with crypto worth $10 and a year from now you realize you paid $50 for that item. Only a stablecoin currency is going to get widespread use as an actual currency. The rest of the market to me is more utility tokens, security tokens, store of value, etc.
I agree
This is why it would be pretty awesome to have SBD hold its peg....
Edit: A Peg.
Out of curiosity, rather than pegging it to the US dollar why not peg it to a stablecoin?
I’m not clear on the stablecoins that don’t use any of the fiat currencies as their peg. The main thing though is for people to quickly and easily be able to determine how much value they’re conveying in exchange for what they’re buying. And to be able to trust that a month from now it’s the same answer.
At the moment there is no incentive to make the process faster. So we have hoarders who have the patience to wait it out. It time it will happen. Patience my boy! @ tarazkp
I am patient, just excited about when I no longer have to wait :)
I appreciate.
But it isn't a bad idea that buy some steem & hold them on steemit. We all know that steemit has a great future ahead.
Steem has, the jury is still out on Steemit :)
User interface and the experience it provides is the next big step for adoption for crypto as it is clearly low hanging fruit to improve upon! Have a good night!
Posted using Partiko iOS
The low hanging fruit will be snapped up by those who already do it if the early adopters aren't careful.
If that’s a problem, you need more problems like it.
I’m having more and more difficulty justifying some purchases. Yeah, I like to buy a latté here and there, but the money I just spent on that one latté could have gotten ten Steem instead.
This is something that might change with ease of fist conversion. That latte takes 30 seconds to buy.
weird how you do not get nervous by giving your money to some stranger and telling them to send that money to another stranger to pay someone you need to pay...
because in essence thats what banks are...
And that stranger saying it will take 3-5 business days...
I'm all in Steem. It's what I know and love! ❤️
Happy Easter!