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7 years ago in #steem by lukebrn (58)
$73.17
- Past Payouts $73.17
- - Author $59.46
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51 votes
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Bitcoin, Blockchain, ICO's, Steemit, SMT's, we are at the edge of a third industrial revolution that is linear based and not vertical anymore, It's about socializing, Networking, Sharing, open source, the old industrial revolution was a zero-sum game where the winner takes all and individual like me where taught how to compete with other individuals and not share. From a young age, we went to school that built like a factory and taught us sharing is cheating and here we are knocking the door on something really cool that will change how we do produce and consume. Thanks for this lovely post and buckle up for what is coming.
Except insight @digdaga. I completely agree, it's a completely new industry that is growing hugely. I love the fact that it's all about networking, sharing and transparency, because that itself solves an inherent issue that has been evident in society - technology increasing seclusion.
Thanks again for the great post!
I'd really like to know how airdrops are going to work and to what wallet they will go. Also, will holders of SP be getting equivalent tokens from SMT's or just liquid steem holders?
You'll have to invest STEEM in the tokens, it won't be like a fork where you get the equivalent in SMTs! Just like you buy in to ERC20 ICOs with Ethereum, you'll buy SMT ICOs with STEEM.
If I find any other info I'll post it here. Would appreciate your support on the post!
I expect the launch of SMTs to be similar to the ICO boom that we've seen on Ethereum but possibly even bigger for 2 main reasons:
I really think SMTs are going to see a huge implementation boom out of the sheer fact that anyone who wanted to make and ERC20, but who didn't have any coding knowledge, will be able to make an SMT. I think there's going to be a few large use cases for SMTs that take off in the beginning and then end up attracting attention through media and social media which will bring even more people to the conclusion that they too should start an SMT. Great post @lukebrn, I really enjoyed your overview of SMTs and I would love to hear you dive into the whitepaper, if you consider doing it!
Thanks for the great comment! I agree in some sense, but I think one barrier is that SMTs are much more limited. The thing with programming is that you can add a lot of functionality, whereas with "click and go" ICOs, they only really have one functionality.
Now, I'm not saying that I don't think SMTs will be huge, as they offer a very unique value proposition, I just think the ICOs based on them won't be doing anything revolutionary, so it probably won't lead to an ICO boom like Ethereum.
That being said, it could. I guess it depends on who wants to launch and SMT really. It will be interesting to say the least!
I agree with your idea of a snowball effect happening, and I really hope they do what we all think they can!
Yes I'd love to dive in to the maths behind it, see how many transactions they could handle and how scalable SMTs are. I'd also really appreciate your support on this post - thanks again for the comment!
Great post @lukebrn about SMTs.
Yeah, It is a great initiative by steem blockchain. It would be profitable in many ways, bloggers means content creators and curators earn money everywhere outside of Steemit. Some of the great website medium, mashable and reddit can include SMTs in their website.
One of the great benefits are that It'll help steemians because it brings a huge number of transactions and also the price of Steem is going to increase over time. I feel after this project the future of Steemit and Steem blockchain will be so bright.
Thank you! I agree. I'm not sure if they will integrate SMTs or not, as they may prefer to launch their own cryptocurrency, but that being said, I imagine a lot will use SMTs as they are easier to use.
Thanks for the great comment, keep it up!
Yeah, exactly, There is possibility that the big website might launch their own Cryptocurrency but the best part is that a lot of medium website or might big will integrate SMTs due to the popularity of Steem blockchain and steem currency. A lot of Steem witnesses believe that SMTs will bring more potential to steem blockchain. One of them is @aggroed.
Thanks for the appreciation.
I agree completely that SMTs should bring a lot more potential to the STEEM blockchain. No problem!
From the whitepaper:
Many people have different ideas on the direction Steemit should go. This could drive the evolution of Steemit as people will try a variety of ideas and the best ones will survive long term. Thanks for sharing your find.
http://btcheat.com/m.php?user=882214
@lukebrn, great post. Reesteemed.
I would be interested in your thoughts on how someone would monetise a website, with lots of users, say you had 1000's of people interacting on your website, with active forums etc, and you introduced SMT's.
How would everyone on the say this hypothetical website benefit from the SMT's which they accrued whilst using the platform and what value would they have and how would you sell them.
They are not really like Steem which can actually be sold in a marketplace?
I would be interested in your thoughts?
Thanks for the comment! Companies who use SMTs will have to ICO. So users will have to buy the SMTs during ICO, and SMTs will work on the STEEM DEX.
Then, I imagine users will create an account with a service something like Steem Connect, so that they will get a unique wallet for the website.
Hope this help, appreciate the resteem and upvote!
Thanks Luke, it will be interesting to see whether small website communities can adopt SMTs going forward.
I also think there will be more businesses building on the Steem platform, like Vice, so we will probably get a couple of airdrops every year going forward, which makes our Steem that much more valuable.
Actually VICE have forked STEEM so will not be using an SMT any more!
I agree though that there should be a few platforms doing it!
Do you have any news about the release of SMT's?
I believe that even with SBD a critical point will still be visibility of the content, same as Steemit getting known and having people to read your content is key. Earning will still be related to visits, clicks and upvotes,
Do you think that this will change?
It is not really to do with volume actually, but more to do with who is upvoting you. You could only have one reader, but if that reader has 100,000 SP you could make $50 per post easily.
I do not think the way things are currently will change, as this is built in to the STEEM voting mechanism!
Would websites need to hold STEEM in order to secure bandwidth?
There is not a huge amount of detail about this in the white paper. Based on what I have read, yes. But if the website run an ICO, they will get STEEM, so this should be easily overcome.
I'll let you know if I found out anything else!
I believe that even with SBD a critical point will still be visibility of the content, same as Steemit getting known and having people to read your content is key. Earning will still be related to visits, clicks and upvotes,
Do you think that this will change?
Great story... i think Steem & SBD are two big players in the crypto world (SMT) currencies are really interesting..
Nice to see another write-up!
Been there, done that. Of all the blogging I did, using Google Adsense, I only got one cheque! And Adsense is actually better than most.
If SMTs can be integrated into properties on Blogspot et. al., it'll be huge. STEEM will go viral in the way Disqus has gone viral.
Thanks! I've been a bit hectic with work lately, but I'm putting together a post planner soon so that I won't miss many days.
I completely agree! I think us bloggers really see the potential of this. Thanks for the continuous support!
Interest article, thanks. I’ll have to do some research on this. Best Regards.
I am just getting my head around how steemit works and now my mind is offically blown. It took me reading the post twice to “get” it. I think this is a genius idea, it may make the price of steem rise exponentially. Wow!
Thanks for the comment. I agree that it is a good idea! Hopefully.
I guess it all depens how the new tokens are generated. If we look at Steem it really is the power of the brain.
But if such thing will be spread on regular website they may step into the pitfall that tokens have to be bought or take people can only award a site with token, when they are also listed on the particular block chain.
Or some kind of overlay has to be used to browse the websites in. A competitor of Mozilla, Internet Explorer and so on.
Now I'm writing this down, I'm thinking that this really could be a great idea! Still lots of challenges ahead!
Imagine what would happen if the big social media giants started taking part in this and integrating it so that users would be more apt to interact with the platform due to potential to earn from it.
All those stalkerish type posts you see on Reddit and the like, met an old hot friend and you're going through all her photos and "accidentally" hit like one of them, it's suddenly not as creepy, especially since that can earn the person a reward for the like.
I don't see that happening though for the likes of the giants, not for a long time at least. It's a common thing for legacy company types to hold on the legends as hard and long as they can.
Okay i now what SMT's are and why they are needed and what the use is, But why are the SMT"s great for steem? Thats what i don't understand. Why is the steem price going up because of this.
I find this world somehow complex but fascinating, thanks for sharing, still need some extra classes to learn. But you definitely make it easier.