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RE: SOLVING THIS PROBLEM WOULD SOLVE ALTCOINS FOLLOWING BITCOIN!
there is already the market that you are describing. USDT, EUR pair and so on. For many reasons, people prefer the BTC trading pair. Just recently one of those reasons, became even more, of a boder the tax implication of deling with crypto
What do you mean exactly?
To the question why not trading in fiat vs bitcoin. Many people use to only paid taxes when they exchanged crypto into fiat; at least in the USA, Reason why many find it convenient to only trade in bitcoin paring however with the new tax code I believe we will see a change in that amount of trades done with fiat paring. I heard also Binace is about to launch some fiat pairing.
If I'm cashing out a little steem I'd much rather go straight to USD since I'd get taxed anyway, but that isn't an option. In fact I can only go to BTC, as far as I've found, because no other trading pairs are supported for Steem even though I'd rather use Litecoin to be faster with lower fees.
As far as trading within cryptos there's the same problem, you have to go through bitcoin when I might really be trying to buy IOTA with Steem. That extra transaction of Steem->BTC-IOTA means extra transaction fees and effort, and keeps everything affected by the BTC price.
Mmm Steem -> ETH would be great, poloniex working on it
Why not simply send it to an exchange (Binance for example) then trade it for another crypto and withdraw that. Done. Or... would open ledger work?
What can you trade it for @binance ? btc ? Don´t think they have steem at binance...
I just sent and received some Steem and below is my result.
Send Steem from Steemit to Bittrex for free.
Send Steem from Bittrex to Steemit for a fee of .01 Steem.
This in my opinion is very reasonable.
Sure but we're talking about getting Steem to USD. So Steem to Bittrex, sell Steem for BTC (fee) then transfer BTC to Coinbase (fee 2) sell BTC for USD (fee 3.)
Plus aside from the fees the multiple steps are annoying and BTC is slow so you have to wait for the transactions to go through.