RE: RE: Ask the Car Guy @socky Jun 17, 2019
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RE: Ask the Car Guy @socky Jun 17, 2019

socky(72)
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I have been working a bunch lately and haven't spent much time looking into the efforts by team build or steem-engine. I honestly don't expect much since steem-engine is decentralized trading. This means that trading volume and trading speed are going to be orders of magnitude lower than that of a centralized exchange. This means that the effect of the exchange will never have an impact on price or popularity. Most people don't realize that they are not even in the same league and never will be.

You can do a simple check to see if an exchange is significant or not. First, determine if the exchange is a centralized one or a decentralized one. A centralized exchange will require deposit of cryptocurrency before trading. This is because they use their computers to keep track of who owns what and don't waste time on waiting for cryptocurrency to transfer for trades to take place. If the exchange is a decentralized one, it will have zero impact on STEEM price. Next, just do a search for cryptocurrency exchange ranking. Then search for the exchange. They will normally be ranked by trading volume. See if the exchange you are evaluating is even in the top 100. If it is not, the exchange is completely insignificant.