RE: Future of cryptocurrency: war of utility tokens. How can Steem win the war which has lost current battles (i.e. low ranking).
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The biggest challenge currently (in my opinion) is that Steem has implemented all of these great improvements, but.. Binance, Bittrex, OpenLedger have been slow to upgrade their wallets/nodes so that traders can withdraw Steem after purchase.
I think this is severely holding the price down. Buyers become impatient and dump what they are unable to withdraw. We had a small rally the other day that has since been lost as traders are stuck unable to withdraw. Steem's current price is a STEAL. But, you have to be able to use it. :-/
I wrote a bit about it on my blog. I will post ETAs if I am able to determine any. If you have any insight on this, please let me know. Thank you.
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Basically, exchanges have lower priority to upgrade their Steem exchange nodes. Two things- trading volume is low for Steem and therefore they don't give a priority to Steem and are performing other maintenance. Or, Steem node upgrading is a difficult for them, they are procrastinating and contacting STINC (who are slow to response).
Hitbtc, Kraken, Bithumb, all these top exchanges have disabled transfers for months some years. Steem has known big problems with exchanges. Exchanges like OKex and Bitfinex do not have Steem pair yet.
Steemit corporation has been negligent about exchanges. Usually, more active foundations from lower ranked coins have listed their coins in many more exchanges.
One of the big listings for coins is that most are ICOs and ERC20 (ethereurm) based token. Most exchanges has infrastructure for ERC20 token, therefore, they can easily list another small coin.
But setting up and maintaining Steem node could be hard both technically and financially. STINC has not actively think about this problem. However, their priority is SMT and they lack people & funding.
EOS with similar difficulty was able to be added in many exchanges. They have bigger funding, more developers and aggressive attitude for listing.
Hmmm. I really don't know anything about this at all, but seems like this could be a good opportunity for someone adept at node running could make an arrangement with an exchange and help get STEEM on there.
Say someone like @anyx. They could approach an exchange and offer to setup and run a node for them at little cost or a percentage of trade profits if they would agree to list STEEM. Or maybe Steemit themselves could do this.
I don't know @anyx in any way and from what I've read, that doesn't seem like something they would do. Any one of the really skilled node running developers could do this, make a little profit, and possibly help shoehorn STEEM in on a major exchange.
Could be a win-win for somebody. They would be a STEEM hero :-)