Hi folks, I've spoken with a few people privately about this, so I thought I'd make a quick public announcement. If you've been reading the steem front page at all lately, you've seen posts about something called "SMTs." SMT stands for "Smart Media Token," and it's the next big hot thing that the Steem devs are talking about adding to our platform.
The idea of an SMT is that anybody will be able to go create their own token and configure it so that people can earn it by voting on posts, just like Steem. Say you're from the great state of Colorado, and you want to get a Colorado-themed community started. But you don't have any Steem Power, and you don't have any money to buy some to distribute rewards. No problem! Just create a COLO token, configure its reward pool, and bam you've got your own little sub-steem community token. Very cool, eh?
I had someone tell me today that "SMT kind of crushes POCKET." Well, that's a bit harsh -- maybe we think through it first. Let's talk through some possible scenarios:
- The community supports migrating POCKET to the SMT platform. This means that we pick a time, and say "everybody who owns POCKET tokens on this date at this time gets a balance of a new SMT token called 'POCKET'." What would happen? Well, someone would have to do the work to create the new token and then issue the new POCKETs to everybody. What would change? Well, we'd lose the ability to send POCKET tokens to people via comments, which seems to me one of POCKET's biggest use-cases right now. On the other hand, you'd be able to trade POCKET directly with STEEM on the new decentralized exchange.
- We leave POCKET as-is, and create a decentralized IOU gateway that helps us list POCKET tokens on the SMT decentralized exchange. I like this option, as it would give me a chance to design a nifty, secure, safe, decentralized gateway system and I've been thinking about doing that anyway. This way, we'd still have POCKET tokens available to tip via comments, but we'd also be able to trade it against various other SMTs.
- The community is split on this, and some people do it one way and some people do it the other way. POCKET is decentralized, so there's nothing stopping the community from splitting and doing a BTC-BCC-type fork. If someone migrates POCKET directly to SMT, other people could continue running the old POCKET confirmer bots. Then we'd have a POCKET-classic and a POCKET-SMT, and the two wouldn't really interact with each other at all.
I like option 2, but please understand that I'm thinking way way ahead since we probably won't actually have SMTs for many more months.
What are the community's thoughts?
I vote #1
Sounds so cool
I say #2. Why couldn't we try and get some attention from the big wigs and use pocket as an example.... case use proven. Pocket is and will still be the first token. Can make pocket really catch on leading up to smt which i believe is still 6mo away minimum in my opinion. Plenty of time. Im no coder so cant help on that front but i got a thinking brain if anybody needs some opinions on whatever.
pocketsend:100@pocketbook, with you in the #2 true that pocket was, is and will be always the first!
Successful Send of 100
Sending Account: juanmiguelsalas
Receiving Account: pocketbook
New sending account balance: 999899
New receiving account balance: 677939
Fee: 1
Steem trxid: 1c5aa4218277cef34dc83ff87fff14a5fcbc1edd
Thanks for using POCKET! I am running this confirmer code.
Agreed, We first need to spread pocket and it needs to get some face value and a few transactions before the next big step is taken.
pocketsend:101@pocketbook, being the first token is definitely something I'm proud of.
Successful Send of 101
Sending Account: biophil
Receiving Account: pocketbook
New sending account balance: 861169
New receiving account balance: 757840
Fee: 1
Steem trxid: 5c8917fdc7b45a6ab7b025226570c8eaaad06f83
Thanks for using POCKET! I am small bot and right now I am running this code.
And so you should be. 1 for the bucket list!! 🖒
I would say option #1, publicize POCKET as the predecessor of SMT or, first smart token (not SMT) in steem blockchain. Option #2 may create more complexity and legacy issues since SMT will add more features and upgrades in future. The interface will need to be always updated.
Moreover, POCKET needs to find a NICHE to build a burgeoning community. Right now, it is already used for tipping and contests. Someone proposed to sell whale's vote with POCKET (which is already doable, sell POCKET for BTS, buy WHALESHARES/BEYONDBIT), problem is volume for both POCKET and WHALESHARES is very low. However, it is the early days.
Whatever the option is, it needs a strong niche and use case to stay relevant.
pocketsend:101@decentropia, thanks for the input!
Successful Send of 101
Sending Account: biophil
Receiving Account: decentropia
New sending account balance: 861270
New receiving account balance: 1000099
Fee: 1
Steem trxid: f4fa98bee91c8d10f77514c286566086e647a4a6
Thanks for using POCKET! I am running this confirmer code.
thks for coming up with this @biophil. I myself was thinking about it when I went throught SMT Whitepaper. Pocket is a great idea and i still like the primary use case... tipping in comment on all steem app. This use case is still valuable and we have to continue using it as intended. We still have enough time till SMT is deploy and tested (probably Q1-Q2 2018). So I support option #2.
pocketsend:101@pnc, I agree, we probably have a long time to think about this.
Successful Send of 101
Sending Account: biophil
Receiving Account: pnc
New sending account balance: 860664
New receiving account balance: 1000198
Fee: 1
Steem trxid: b8a8696351e21503b1f0055cd87545f75f82aa50
Thanks for using POCKET! I am running this confirmer code.
pocketsene:1@biophil I have never used this before
pocketsend:1@biophil I have never used this before
pocketsend:101@ender, make sure to include a comma after the account name.
pocketsend:51@biophil, thanks for the tip! (And for creating a cool tool)
Successful Send of 51
Sending Account: ender
Receiving Account: biophil
New sending account balance: 1000050
New receiving account balance: 860108
Fee: 1
Steem trxid: 07573551d4c867097b2fbe8db36d3c26ea4473a7
Thanks for using POCKET! MasterPocket is running this confirmer code.
Successful Send of 51
Sending Account: ender
Receiving Account: biophil
New sending account balance: 1000050
New receiving account balance: 860108
Fee: 1
Steem trxid: 07573551d4c867097b2fbe8db36d3c26ea4473a7
Thanks for using POCKET! I am small bot and right now I am running this code.
Successful Send of 101
Sending Account: biophil
Receiving Account: ender
New sending account balance: 860259
New receiving account balance: 1000101
Fee: 1
Steem trxid: dde638f27bf02b209835c0a09d68b9ed552d3380
Thanks for using POCKET! I am running this confirmer code.
I have not used any pocket change yet but I haven't forgotten about it, I was just waiting to see it used by others and get a better idea of what I should be doing with it. I love the idea and I hope that you can find a way to really make it work in a big way. I'm not technologically savvy about these things but option #2 sounds really good to me. I appreciate all of the time and work that you have put into this project!
pocketsend:101@deaconlee, it's been a very fun and educational project!
Successful Send of 101
Sending Account: biophil
Receiving Account: deaconlee
New sending account balance: 860158
New receiving account balance: 1000100
Fee: 1
Steem trxid: 73ecc4d7f54e4f4513a57c8d8893a8284880b8c9
Thanks for using POCKET! I am small bot and right now I am running this code.
I am so optimistic on the future of POCKET that I think us POCKET millionaires deserve our own Steemit nickname. In addition to the whales, the dolphins, the minnows, and redfish there is now a new Steem animal that swims in this crypto ocean. I already dropped this idea at Barry Dutton's awesome "campfire" post last weekend and my humble suggestion was that we should refer to ourselves as the "sea otters" because just like real otters we have pockets! Otters are known to be intelligent, fun-loving, and resourceful. From what I have seen already I think that fits us "pocketeers" perfectly. Now all we need is for someone to draw us up a Game of Throne style sigil that depicts an otter nibbling on the Pocket token logo with our house motto written in Latin at the bottom, "We Have The Pockets." After coming up with this idea I realized that I am just a humdrum POCKET millionaire and there are at least 1200 other folks just like me so it is really not my place to tag the group with a nickname that sticks. That is why I have brought my idea here to the foot of the Iron POCKET Throne.
Heh, I actually really like "pocketeers" :)
I give you my blessing to go out and get us that otter sigil!
Awesome, thank you. tip!
Hi @biophil! @paul.atreides is sending you 0.1 SBD tip and @tipU upvote
:)
@tipU - send tips by writing tip! in the comment, get share of the profit :)sorry to go off topic here but I really like you talking about sea animals since you brought water back to dune
Thank you for your comment! The water was always there. It was Prof. Kynes that discovered that. Read all about it in "House Atreides", now available in paperback. 👍🏻
I like option #2. I think the SMT program is fantastic news for POCKET token holders. It is going to introduce Steemit and the concept of digital tokens to a much larger population. Millions of people are going to learn about Steemit with the SMT program being the gateway drug. The production of Steem doubles every 2nd year and every 3rd year the production increases by a factor of 10! Nations have printed dollars like this in the past and that leads people to use wheelbarrows to buy a loaf of bread. When Steemians finally figure out what this exponential production of Steem means for them they are going to start looking for something else on this platform that can function as a store of value and I believe that our limited supply of POCKET token will lead them to store their wealth in POCKET.
STEEM does not have that inflation rate anymore:
Source
You are right and I was wrong. Thank you so much for setting the record straight. tip!
Hi @onthewayout! @paul.atreides is sending you 0.1 SBD tip and @tipU upvote
:)
@tipU - send tips by writing tip! in the comment, get share of the profit :)If people start storing wealth in POCKET, I'll have to recommend some security upgrades.
pocketsend:[email protected]
Successful Send of 101
Sending Account: biophil
Receiving Account: paul.atreides
New sending account balance: 860765
New receiving account balance: 1001413
Fee: 1
Steem trxid: fdd6eb14c69bf77e32076d494af99ba832bc1aa7
Thanks for using POCKET! I am running this confirmer code.
@biophil i think we should go and use the smt platform and make pocket survive longer. but we have time it like released in 8 months
Isn't it possible to have the POCKET-classic and POCKET-SMT side by side?
I mean to make it interchangable. Send X amount of classic to a bot and get X amount of SMT back or the other way around to send Y amount of SMT and get Y amount of classic back?
pocketsend:101@baus85
Successful Send of 101
Sending Account: biophil
Receiving Account: baus85
New sending account balance: 860563
New receiving account balance: 1353164
Fee: 1
Steem trxid: f851d4b676f4ad94810c9646b18453de3040ae1d
Thanks for using POCKET! I am small bot and right now I am running this code.
Yeah, that's option 2. But the bot has to be built right so its owner can't run off with the money.
In my opinion, I would vote for OPTION #2.
Even if at a later date option #3 were to be something that people want to do it would still be possible and it could only raise the value of Pocket (the original).
Likewise, Option #2 opens up many more opportunities, similar to what SMT tokens do.
The only issues that seem to be a worry is the fact that many people here on Steemit have given their private posting keys out so as to get in on the many opportunities out there, like for example some of the MSP projects, hence this could pose an issue as far as the original Pocket transfer method goes.
Just thinking out aloud, and definitely agree that #2 is currently the best option out there, which doesn't close any doors, just opens new doors and opportunities.
Yes, most likely we'll need to come up with better security in the long run because of the posting key issue.
I've seen a post about Pocket before, but I had no clue what was going on with it. I've been horrendously busy (as evidenced by my abysmal lack of posts over the last three months), but I had no clue you were doing this @biophil. Based on what you presented here, I think #2 would be the best method. Gives you flexibility to trade Pocket tokens with other SMTs while still maintaining the infrastructure you've built around it. Would you have an automated method to translate Pocket to POCKET?
Yes, I think automation would basically be necessary.
pocketsend:101@anarcho-andrei
Successful Send of 101
Sending Account: biophil
Receiving Account: anarcho-andrei
New sending account balance: 860057
New receiving account balance: 100
Fee: 1
Steem trxid: 67f6419b342d4b6734f0b92d405cab3cb0d4f593
Thanks for using POCKET! I am running this confirmer code.
scenario #2 ftw :)
I've chosen this option because of the decentralized IOU gateway development - much needed technology by all the DEX around to become really free from the 3d parties risks
pocketsend:101@yefet, yep.
Successful Send of 101
Sending Account: biophil
Receiving Account: yefet
New sending account balance: 860462
New receiving account balance: 1000100
Fee: 1
Steem trxid: 538a9df19ae7a7b108add03224195ede92bfaea4
Thanks for using POCKET! I am small bot and right now I am running this code.
The timing seems to be on our side. Personally I would support decision you will make. We Pocket holders need to be united, because together we can bring Pocket to a higher level.
pocketsend:101@biophil
Successful Send of 101
Sending Account: mountrock
Receiving Account: biophil
New sending account balance: 1000907
New receiving account balance: 860461
Fee: 1
Steem trxid: 057ce78723bb87d8caf6c5a9875e6514082b4277
Thanks for using POCKET! I am small bot and right now I am running this code.
Now all I have to do is figure out after doing some reading how to access my POCKET Tokens. I am not complaining just have not had the time to do the reading yet. Life Happens and so does STEEMIT........
Every day i turn around there's more free tokens here there and everywhere, but i don't have the time to figure out how to "pocket" them all, oh well (-:
pocketsend:101@clumsysilverdad
Successful Send of 101
Sending Account: biophil
Receiving Account: clumsysilverdad
New sending account balance: 860866
New receiving account balance: 100099
Fee: 1
Steem trxid: 92f73915e845c4bc757f8719ed1d7bb7629f4801
Thanks for using POCKET! I am small bot and right now I am running this code.
This downvote was placed in error. @pocket-pi is not a spammer.
oh... thank you... how do I check this or access this? ty
pocketsend:101@stokjockey
Successful Send of 101
Sending Account: biophil
Receiving Account: stokjockey
New sending account balance: 860967
New receiving account balance: 1000100
Fee: 1
Steem trxid: 4840734902c4a7eee0030725aedb47fdf1025edd
Thanks for using POCKET! I am small bot and right now I am running this code.
I support option 2 if and only if Pocketts gains a block explorer or some link that it. And notification or a page search(that would go along with block explorer idea) on who sent pockets
Agreed, we need this. I'm working on some stuff that will push us in that direction.
good idea!!! @biophil after the block explorer thing is made, I think we should get listed in other exchanges too..i like the idea of bitshares we should try to get listed in more exchanges aka Cryptopia we can crowdfund using steemit posts to raise funds to get listed
your post is very interesting and full of knowledge
why sir you down vote me @biophil
Because your comment looked like spam.
pocketsend:1@biophil
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858802
New receiving account balance: 858802
Fee: 1
Steem trxid: aebb56b9229fd2bc391cdec69ee715e020142463
Thanks for using POCKET! MasterPocket is running this confirmer code.
pocketsend:1@biophil
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858801
New receiving account balance: 858801
Fee: 1
Steem trxid: 48bba38853339c1ec952235b7e42408025cb7059
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858801
New receiving account balance: 858801
Fee: 1
Steem trxid: 48bba38853339c1ec952235b7e42408025cb7059
Thanks for using POCKET! I am small bot and right now I am running this code.
pocketsend:1@biophil
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858800
New receiving account balance: 858800
Fee: 1
Steem trxid: 0023328d96e74ed6cd414716c755e8d622fca2f9
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858800
New receiving account balance: 858800
Fee: 1
Steem trxid: 0023328d96e74ed6cd414716c755e8d622fca2f9
Thanks for using POCKET! I am small bot and right now I am running this code.
pocketsend:1@pocket-a
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858801
New receiving account balance: 858801
Fee: 1
Steem trxid: 48bba38853339c1ec952235b7e42408025cb7059
Thanks for using POCKET! MasterPocket is running this confirmer code.
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858801
New receiving account balance: 858801
Fee: 1
Steem trxid: 48bba38853339c1ec952235b7e42408025cb7059
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858802
New receiving account balance: 858802
Fee: 1
Steem trxid: aebb56b9229fd2bc391cdec69ee715e020142463
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: biophil
Receiving Account: biophil
New sending account balance: 858802
New receiving account balance: 858802
Fee: 1
Steem trxid: aebb56b9229fd2bc391cdec69ee715e020142463
Thanks for using POCKET! I am running this confirmer code.
I'm still confused about SMT so it means many people in steemit create their own tokens and start their own community.
As best its been explained...yes...create your own tokens...start your own community...all within the STEEM economy...So, all of the money is still contained with the STEEM currency...
Hope this makes sense...We're all trying to glean from the other for understanding...
It's all pretty new...so...in time it will become clearer.
Peace.
but its still complicated to create a single token, therefore not everybody can create their own
pocketsend:101@markjason, I don't think it will be hard to create a token. Someone will build a nice website that makes it easy.
Successful Send of 101
Sending Account: biophil
Receiving Account: markjason
New sending account balance: 861068
New receiving account balance: 1000100
Fee: 1
Steem trxid: 4e94c5b430dda00de28cb686d97528f5d43fc913
Thanks for using POCKET! I am small bot and right now I am running this code.
hmm, i see, so i think would be you can create that kind of website
@biophil
If I ever do learn to create a website, I would be happy to be that person. :)
haha, i can see that..
I agree about 'complicated'. It's all new. People are still digesting the white paper. I'm sure more will come out in the days and weeks ahead.
Here's a link to the CEO's delivery. You've probably already seen it:
https://steemit.com/steem/@ned/announcing-smart-media-tokens-smts
Hope this helps.
Peace.
thanks @spiritualmatters i seen that post lately but smt is not that clear for me i'm still reviewing new platform..
✌
Yep....
I sense this is geared more to those who have a monetary means to upstart their own 'token'.
However, there are a lot of creative minds and energetic Steemians who are tech-savvy; and, are giving this new 'idea' a lot of support.
The little that I have gleaned, leaves me 'cautiously' optimistic that this will benefit everybody on some level. I like the thought of being able to put x-amount of money into an up-voting fund; instead of having to earn enough SP.
I expect good things because the community with the knowledge-base on how this whole platform works, are very conscientious towards helping those coming in on the ground floor.
Gotta' love it! It's really revolutionary.
Peace.
I would love to shift
And #2 option is great for me
This may be a little "off topic" however as you have addressed the coming new additions to our blockchain I think it is an appropriate time to put up a BUY & SELL @classifieds board for POCKET TOKENS.
https://steemit.com/pocket/@classifieds/buying-and-selling-pocket-tokens-make-your-offers-here
So that all interested parties can put their offers up.
& or links to their posts in which they are selling / buying POCKET TOKENS.
This comment is of an informative nature and was inspired by this post by @biophil .
Can't really wait for the launching... By then I could have acquired all the facts... Its really a great development by @ned ... Thanks for sharing this @biophil
Thank you for sharing your knowledge through your great post @biophil
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Option#2 is a good way forward, I don't really see POCKET as a SMT, its just a fun way to tip people around. For me, its kinda like dogecoins, not of much economic value but fun to spend and send to others!
any SMTtoken is an asset issued on top of the STEEM blockchain and it's traded in a SMTtoken/STEEM pair, so the steem is major trading pair for any SMT in this way it helps steem token itself.
Whatever case may be, I guess it will rise up pocket token a bit.
i like the second option the most
Such a wonderful service you gave to us @biophil , let's use smt tokens and make pockets to live longer
Good job @biophil...
Good luck
i would like to convert my pocket!
we as a community should build and increase pocket value even if it takes till next year and maybe use it as token for a an emerging product which will shoot the value up. Option 2 looks better.
#1
Good blog
Very interesting, regardless I think SMTs will help evolve POCKET in the long run
option 2
Hi steemian friends, I'm newbi,, and I just found out this news, and ... how to use SMTs ?
They don't exist yet.
I agree .. option 2 looks ok
I am still in posession of my original tokens but have seen them popping up more and more in random posts so I guess the use is getting wider... might start spending some myself now...
voting for option 2
Even if it is, who cares about 20% if this is the way to increase Steem value by thousands of %."
Is what?
so much going on in the steem community, i wonder how do people have time with other blockchains (project)
congratulations on your research @biophil
Intelligent