Asking the Bittrex support team for their motivation to disable their Steem and SBD wallets again, I received the following answer:
Both the SBD and Steem wallets are currently offline. We currently do not have an eta for when they will be available again. Bittrex looks at various criteria when deciding to list or delist a coin.
These include but are not limited to: ongoing developments, technical innovation, blockchain network health, social media, community engagement, market cap, volume, coin distribution.
If you feel strongly about a particular coin, you may contact the developers. Feel free to discuss the coin's merits in Bittrex Slack (http://slack.bittrex.com).
Best Regards - 22th of March 2018
Is there anything we can do about this?
Picture kindly provided by pixabay
The barriers of new markets
Disabled wallets and frozen deposits still seem to be business as usual in the crypto markets.
I'm seriously asking myself: Will there be a point in time when we'll be able to use cryptocurrencies without fearing to lose them at every opportunity?
How can we trust in a coin if we're not able to use it the way we want?
After a longer vacation today I opened my bittrex account again with the idea to prepare it for some upcoming Steem/SBD deposits. To my surprise both the Steem and SBD wallet were disabled, showing a red 'i' for information and the words 'Wallet Offline'.
First I laughed and then I swore.
The way bittrex accounts look today
I have no problem with decision making as long as people are able to comprehensibly explain their motivation.
As we've learned from banks: if you have enough power, you actually need no explanations.
Obviously, exchange platforms are acting exactly as banks when it comes to covering up their actions. They block accounts, wallets, transactions just because they can.
The whole idea of decentralized solutions fails as long as we need centralized exchanges as intermediaries.
What we actually need is a completely decentralized world where relationships, transactions and collaborations are established on the basis of TRUST.
When was the last time you had an overreliance on a bank or other financial institution?
It must have been long time ago.
As a consequence, we're now going back to basics, not giving our property in hands of third parties anymore. People close their bank accounts, transfer their money to independent applications, trying to avoid any participation in the established financial systems.
What once started as the perfect match has now reached its expiration date.
As long as we need exchange platforms in order to participate in the crypto market, we'll be still not able to fully enjoy all the benefits decentralized environments provide.
Putting it on my Christmas wish list again...:-)
Cheers, Marly -
Thanks for your valuable time!
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