I wanted to add some money to my Wirex credit card when I realized that depositing Steem had disappeared.
After a small research, I noticed that it's unavailable at more services.
A few recent examples:
Changelly is no longer displaying STEEM
Shapeshift has STEEM temporarily unavailable
Wirex credit card is not working (I think they use shapeshift)
Poloniex disabled deposit and withdrawals again
Poloniex has been 'weird' for a while. They have done this before. I do sometimes wonder if they have liquidity problems. But that's pure speculation from my side.
The problem is they are a huge holder of Liquid Steem. From the 70 million liquid STEEM available (as of writing) they have 25 million in their account.
So the only way to get your STEEM off the Poloniex exchange is to sell it for another cryptocurrency that has the withdrawal option not disabled.
I believe this is putting extra selling pressure on STEEM and that affects the price.
Luckily there are more ways to Rome than one. Blocktrades and Bitrex still work.
The ultimate dream
The ultimate dream for me would be a Steem blockchain that is so big and widely known that Steem tokens would be an acceptable form of currency (all the time) and we no longer have to rely on third parties.
Our own social economic ecosystem.
But as of now, that's not the case and most of the time we have to go to another crypto currency (most likely Bitcoin) before we can spend it.
I am testing the waters when it comes to businesses on the steem blockchain and I am in the middle of a 'small' business deal using only SBD. It seems to work fine so far.
If someone could give me some insight about why STEEM keep disappearing from these services I would be very grateful.
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