We have super tight internal market with a spread about 15% with Bittrex. That is huge. There are not enough demand there.
Illustration: kidsnowcanada.org
Why that happens and How to solve it?
The first reason is that there are no publications in major media yet. Even about $1 million dollar payouts. One of possible causes is 15% spread between Steem Dollar and USD dollar. This fact reduce credibility.
The second problem is available supply. Now 99% of available Steems are locked. It is good because everybody believe in a thing. But due to this trade itself is also limited and as a result trade volumes appears low at first glance. That stops everybody from big deals. Looks like traditional chicken and egg problem:
We don't have liquid market because we don't have enough available supply because current price is too low because we don't have enough media coverage because we don't have liquid market.
Do you understand? We need both a more liquid supply and media coverage. The easiest way to do it is Poloniex listing. I don't like pump based publications generally but this time I do believe that's credible. I have not seen blockchain projects with such retention as Steem ever before. Of course we can cleanup sell orders on Bittrex for tiny 30-50 bitcoins but that would not solve an issue longterm and moreover removing such necessary supply from a turnover makes situation even more worse.
This picture is a kind of proof that the only way to pull out 2-3% of supply to the market and make it happy - if price increases tenfold.
If a price will raise tenfold and there will be enough liquidity we will have needed 3-4% of supply in 2-3 weeks after power downs. And the only way to get this is to put our stocks into Poloniex!
Call to Action: Submit your request to Poloniex
Unfortunately I do not have any connections to Poloniex executives. But I am sure that many of us have trusted accounts there. Just go straight here and ask this guys to add Steem. The more people submit that the more chances that Steem will get listed.
Make even more buzz in trollbox. Its already full of Steem. Make it even more buzzier!
Make Authors Happy
Liquid Steem is the only way to make authors happy. As result we will have necessary media coverage to close userbase feedback loop and start growth our community organically.
Disclaimer: I do not neither consider myself as a traded nor want to be involved in any speculations. But I want help push awesome blockchain projects! I am writing this because I do believe that this Steems chicken and egg problem is the only barrier for explosive organic growth of Steem.