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RE: The need for decentralized exchanges
I really wish decentralized exchanges would take off a little more... there seems to be some good options "on the surface," but they also seem to lack the liquidity and range of the likes of Poloniex, Bittrex, etc.
I am not sure WHAT can be done to make the decentralized option more "visible," and I also have to wonder if there-- ultimately-- is a trust issue there. Much as we are all busy trading decentralized currencies, when it comes to trading, do wee require (psychologically) a "someone" to be in charge? I don't know so really just throwing another question out there.
I'm sure they will get more popular being used on a platform with a big community already using them, especially without having any fees. ;)
Government will help....their need to control will start with the centralized exchanges, hence driving people to de-centralize.
One of the first things I did after signing up for Steemit was to get an openledger wallet and check out the exchange... and it was a bit disappointing. On the other hand, I didn't have a whole lot to compare to, being a relative neophyte... my previous entire exposure to cryptos was having a BTC wallet through blockchain.info.
Maybe if Steemit grows to having 100K+ active members, the exchanges listing Steem would get moving a little faster.
haha, read a little farther and I get a clue. I'm still at the blockchain.info phase.
Seems like the in house Steem exchange for SBD and Steem might be a place that some people already know and trust, is there any reason it couldn't expand to other coins?
I think the problem might be that those who seek decentralized exchanges are also the most sceptical ones, and it's always scary to start using a new low volume service. I guess there is also the problem that you have to trust that the exchange is indeed decentralized.
Give it time @denmarkguy.
We are still early in this game. 2018 will be a year of a great deal of change in the entire cryptocurrency sector. Wall Street will be entering, government will crack down, bankers will get more fearful, and blockchains more powerful.
All aspects of this market will get stronger over the next 12 months.
You have a valid point on the trust issue. Seems like maybe something can be done on the software end to help?
One thing on the visibility, I'm in the process of scouring these comments looking for any mentions of exchanges to check. Not seeing much, people seem to be talking with assumed information. Naming names could be helpful in increasing visibility.
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I urge users to share their links more on Reddit in the relevant subreddits. Some of them may have weird names on Reddit, but many are similar to the tags we use here as well. I will be regularly checking on posts through the domain link above that get some good attention and views from Reddit to curate them more fairly on Steemit.
Best part about this is that you will also increase your engagement to your posts both from comments here and on Reddit.
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I think we should work on user retention levels first. As new accounts are being made everyday but most of the new users leave the platform within a month. This is really alarming.
If we are able to retain new users then they will tell 10's of their friends about the platform and the community will automatically grow. And everybody knows that word of mouth is the most powerful. But if new users are leaving the platform, there is a huge possibility that they may spread negativity about the platform.
Why new user leave after a few days is a completely different question. There are a huge lot of different reasons for that, but the biggest is that posts by minnows are not getting any audience, even if they write some good posts.
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Please don't SPAM... take a look in this before hurting your reputation.