RE: Help STEEM get Listed on KuCoin and Earn SPORTS Tokens.
(Edited)
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Why would getting STEEM on another exchange do anything beneficial? There are plenty of locations from which to purchase STEEM. However still noone wants to. Perhaps people should dedicate more of their time to promoting STEEM based projects, rather than putting it on more exchanges. There are many and yet rather than talk about them, we talk about things which are not value generating.
Give people a REASON to BUY steem and they will. If there is no point, then why buy?
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I would assume most exchanges need inventory with which to make a market on their exchange... I can't say for certain but I would assume to make that market they would have to purchase coins if they don't already have the inventory. Which means getting on big exchanges is both a short term positive for prices and a longer term positive as it provides yet another gateway.
Though I do get your point that we need to actually create some fundamental value here if steem is to survive long term.
I think we need to focus more on fundamental value if steem is to survive even short term. There will come a point where the price falls too low and we will enter a death spiral.
Big exchanges don't really need to buy too too much because their userbase will transfer enough over that they can work with. (we all know most are running fractional reserves anyway)
Do we know that though? And how can we know that?
Aside from that though, they will still need that initial inventory to get enough of an order book set up to show a fairly liquid coin.
Do we know that exchanges run fractional reserves? It's happened enough times in the past that I'm pretty confident it is the norm.
Maybe they do need to have inventory to set up an order book, but ... that doesn't really build value for steem, at least not for any significant portion of time. We've been here long enough to see steem get on a good many exchanges. The price continues to decline. Exchanges are not the answer.
Certainly not the whole answer, but they are part of it. Especially with exchanges being extremely local in who they serve when we are talking about a global product. There are regions in the world where you cannot buy steem yet you can get on the steemit platform... that shouldn't be.
I agree with the fact that we should focus on fundamental value of steem for long term gains but new exchange listings are vital at the same time because getting listed on a new exchange means reaching more people. As @jrcornel said that there are people who can use steemit but they can't buy or sell steem, for them it might be a big deal. And then there are people who don't even know about about steem.
But yes, the primary focus should be on fundamental value of steem. I hope with SMT's and communities coming, people will have enough reasons to buy.
I hope so as well
A good exchange know to general public is always beneficial.. 👍🌴
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