Good post! Can you explain a little more how the price of STEEM tokens will be affected by new SMTs? Are they just another SMT for Steemit.com or do they represent a greater value of the entire STEEM blockchain? @ned mentioned some kind of exchange for new SMTs. Just trying to understand the investment thesis for holding STEEM tokens. Thanks.
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From how I understood it.
An SMT (ICO) is funded with STEEM only. You can use other cryptos buy you must convert to STEEM first. This will drive demand for STEEM.
You need Steempower to run an SMT because SMT's require bandwidth to use and Steempower provides that bandwidth. So the more successful your SMT the more bandwidth/steempower you need. This will drive demand for STEEM.
More info here:
https://steemit.com/steem/@ned/explainer-value-flows-on-steem-with-smts-video
Thanks! Great explanation and info, makes sense.