My One Cryptocurrency Investment That I Never Mention

marc99 (55) · 7 years ago

Great video @louisthomas ! I love how you are genuine about what you know and what you don't understand yet.

You said that Smart Media Tokens are a way that steem enables anyone to create his own crypto very easily, which is correct, but this needs a bit of clarification.

SMTs are a way to "tokenize" and monetize the internet. It means that anyone will be able to monetize his website, exactly the same way as steemit is monetized. You could say that Steem is the smart media token for the platform steemit. Soon you could see the "Louis Thomas token" which is used to monetize content on one of your website, for example www.louisthomas.com.

This means that users will be able to buy this smart media token, and even earn this SMT by commenting and by curating on your website. All the SMTs will be launched from the steem blockchain, so steem will become "the Ethereum of Smart Media Tokens".

What is amazing about SMTs is that they are very easy to implement and very customizable. While creating our own SMT, we will be able to customize the inflation rate, coin supply, etc... When a big website or mobile application decides to launch its own SMT, it will have the possibility to do it as an ICO.

Today, the value of steem comes mainly from the use of steemit.com (but also other growing platforms like Dtube). After the release of SMTs, which is due to be in early 2018, thousands of websites and mobile applications will be able to add SMTs on their platforms. Every social media, newspaper or personal blog that uses SMTs will add value to the Steem blockchain, hence the huge potential.

$1.58

11 votes

louisthomas (75) · 7 years ago

Thank you for the clarification Marc!

$0.31

davebannister (32) · 7 years ago

I feel that people might be better served by focussing on a very few social media platforms rather than enabling the launch of one that might fragment the market too much. If people want an alternate to Facebook/Twitter then Steemit is a good choice and as you say has the advantage of first mover in the blockchain space. However if it then fragments itself, even if the overall platform grows, then I feel its name and power might diminish as a brand. If I was Facebook I would be glad if there was suddenly a whole raft of choices of platform because I know that I top the reputation and history stakes and have the money to crush an competitor as they rise. Also I said in a previous post it also fragments the wealth of good chat/comments as these get spread across many platforms.

$0.00

criticalmass (51) · 7 years ago

Do you not think, Facebook & Google etc. are doing their own coin and monetize content, before steemit is stealing their "customers" and they are loosing market-share?

$0.00

marc99 (55) · 7 years ago

Maybe steemit won't do it, maybe it will. We will never know until it happens.

And this is something we all need to understand: Steem is not about steemit. Steemit is just a platform that creates a real use for the cryptocurrency steem. Maybe the next big social media that rivals facebook will be created in one or two years using the steem blockchain, but it won't be steemit.

That said, I can see that steemit has a huge first mover advantage and a fast growing community, so it is very well positionned to be that revolutionary social media.

$0.26

leaderinsights (53) · 7 years ago

This is the central question, isn't it? Would love to know. I would think that at some point they would need to if platforms like Steemit start to cut into them. If not, it will be business as usual.

$0.00

crptotati (25) · 7 years ago

apple ya la ha sacado

$0.00

charitybot (63) · 7 years ago

True, steemit's chain actually encourages interaction and use of the chain, whereas other coins don't really put that at the forefront and will thus lose out when people actually want to engage in a flowing economy involving a coin and tokens backed by a chain that can actually process the amount of transactions necessary by the userbase. Trying to imagine steemit's userbase interacting with each other at btc or eth speeds is laughable, and the backlog would be so vast we'd post one day and hope we can be heard in hundreds of years.

$0.00

markjackson1989 (53) · 7 years ago

steemit is the best

$0.69

markjackson1989 (53) · 7 years ago

zappl, dtube, dlive, steemsnap, steemit, dsound, all built on steem

$0.68

abh12345 (76) · 7 years ago

dmania, busy, utopian...

$0.00

draffanahmed (42) · 7 years ago (edited)

Thank you Louis for sharing your thoughts on Steemit. I believe Steemit as a platform has great potential to grow further and would encourage other steemians to spread the word so that more people can join and our community can grow. I upvoted and resteemed your post. Keep up the great work.

$0.50

biddle (61) · 7 years ago

Steem will hit $20 this year. At Least! Thanks, as always, for your content, Louis! :)

$0.47

deliciousplants (56) · 7 years ago

Great video! I bought some STEEM Power for the first time. What are STEEM dollars used for on the platform?

$0.29

marc99 (55) · 7 years ago

Originally steem dollars were intended to allow a consistent earning on steem, because they were (and are still supposed to be) pegged to one dollar. This means that at any time, one steem dollar should can be exchanged for one dollar worth of steem.

For example: If steem's price was $0.5, one steem dollar can be exchanged for 2 steem. When the steem price reaches $5, one steem dollar can now be exchanged for 0.2 steem.

This system was made for content creators. Let's say a content creator regularly posts on steemit, and earns $100 a day. 50% of his earnings will be in steem power, which takes weeks to cash out, while the other half of his earnings will be given in steem dollars, which can be instantly exchanged into bitcoin, and then into dollars. This allows content creators to cash out their profits and pay their bills and expenses with steem dollars, without having to constantly power down steem power, because powering down takes weeks and can be inconvenient. This also allows a consistent revenue from steemit that doesn't depend on the volatility of steem, because even if steem's price crashed 90% in one day, the content creator still has a good income, since steem dollars are pegged to $1 and can't crash.

However, recently, the price of steem dollars has risen well above $1. It even reached $15 at one point in December. Now it is back to around $7. And this is even better for everyone on steemit, here is why:

As we said earlier, 50% of earnings on steemit are in steem dollars. We are paid in steem dollars as if steem dollars are worth $1, because that is how the steem blockchain works.
Let's go back to our example. The content creator made 100$ on his post. Therefore, he will earn 50 steem dollars. That would normally equal $50, which is half of the payout. BUT, because steem dollars are being traded at $7 now on bittrex and poloniex, that means that the content creator actually earned 50 x 7 = 350$ in steem dollars.

In short, payouts on steemit have been crazy in the last month. Now, when you look at the amount generated by upvotes below a post, you should know that the real value earned by that post is in reality four to five times higher that the price that is shown.

For example, if we get a $1 upvote on a comment, we actually earned $4 from this upvote. And everyone is happy!

$0.33

5 votes

share4angels (35) · 7 years ago (edited)

Thank you @marc99 so much for explaining the details of wallet structure.
-following, upvoting, sharing and commenting and resteem.

deliciousplants (56) · 7 years ago

Thanks this was very helpful! Also great news 😄

$0.00

skycornish (55) · 7 years ago

STEEM has such an amazingly bright future! It will literally change everything about the world (in a good way)

$0.24

dailytech (44) · 7 years ago

Exactly We need to hold our SBDs for a long term, will benefit us alot. what do you say?

$0.00

pennystockhelp (66) · 7 years ago

before you hide anything more, I like to let you know that alot of us consider you an idol. So you can tell us alot more we wont judge you :)

$0.18

davebannister (32) · 7 years ago

Perhaps the time is right for you to create the YODL coin to rival the Suppocoin?

$0.00

dailytech (44) · 7 years ago

Exactly Bro you are right. :)

$0.00

hedge-x (57) · 7 years ago

Steem is one hell of a Crypto. It deserves top 10 at least. Market will soon re-price it. Steem was a top 3 Crypto for a while in 2016, most people don't know that!

$0.03

albertoyago (53) · 7 years ago

Thanks for sharing @louisthomas ! Crypto is a wild world, and you help us a lot with this kind of videos! Greetings from Spain mate! :)

$0.03

full-measure (64) · 7 years ago

Agree with you that the spam etc isn't a big deal...

There's always the spattering of bots or people who barely read it who take a stab at a comment, but it's easy to recognize those and just ignore them.

At first I found it a little awkward that you know lowkey the motivation for posting may be to try to earn money, makes it feel not so genuine anymore. (Anyone who has seen Black Mirror season 3 ep 1 can relate to this :p ) But it's starting to feel more and more like just regular social media to me.

I guess over time "the game" of trying to score upvotes evolves to take a back seat, as more people come here and do their normal social media posting here.

Makes sense about keeping SP% a secret! lol. I figured that's what it was when I saw the title.

$0.00

factfictional (39) · 7 years ago

During the past weeks I have been getting back into cryptocurrencies, making all the research I can in order to make good decisions on the space.

Steemit is interesting to say the least, an economy that is dictated by the very content that is generated? There are many things I still do not know, but the content and the community generated by all of this is an intreging to say the least.

The fact you opinions have visible value to others is something I may never get over, but I am going looking forward to continuing this journey in this place, wherever it takes me.

$0.00

andrejcibik (65) · 7 years ago

ufff....good :)
I dont count my SP as money as well. I dont wanna take it out ..... ever. Its good not to think about it as money so you are not tempted to withdraw it.

$0.00

dailytech (44) · 7 years ago

This is what everyone needs to think :) I am doing the same the way your said. :)

$0.00

some-dude (49) · 7 years ago

Should STEEM be HODL?

$0.00

oldtimer (75) · 7 years ago

Steempower is the way to go.

$0.00

mysearchisover (70) · 7 years ago

Great video! Good luck on your trip. Keep us posted.

$0.00

markovich (29) · 7 years ago

Cool, let me add my 1 cent to your steemit portfolio :))
Keep up the great work, you're really doing a great job on steemit!

$0.00

yousep (37) · 7 years ago

NIce Post !

$0.00

rcatteeu (25) · 7 years ago

Nice video. I find it refreshing steemit is gaining traction. In the end, if we really believe in the power of crypto and decentralized applications, why not use a decentralized social network? Keeping using youtube or fb/twitter only is kind of hypocrite if we really want to push this market forward!

$0.00

missrdx (42) · 7 years ago

Your post is very nic

$0.00

vforvanish (25) · 7 years ago

Platforms like Steem and Lunyr are the future of the internet.

The future looks better than ever.

$0.00

queen0000000000 (17) · 7 years ago

tthanx, really appreciate, you video also helpful

$0.00

safetony (47) · 7 years ago

Good to see you mentioning steemit in your video! I think we already know that your doing rather well sir ;)

$0.00

ckoning10 (25) · 7 years ago

Just started out with steemit, still trying to get the understanding of all of it but I like the concept! Great to see part of the @louisthomas YouTube community on this platform as well.

$0.00

camaj (34) · 7 years ago

Thanks for sharing. I resteemed it.

$0.00

wajidali (38) · 7 years ago

@louisthomas bro your such interested post I wish your support me Steemit thank you

$0.00

cryptotem (63) · 7 years ago

Totally get it! Definitely be careful with that kind of info :-)

$0.00

andrejcibik (65) · 7 years ago

Before watching: I hope not bitconeeeeeeect

$0.00

giannid (38) · 7 years ago

Hi Louise i have been following you on Youtube for quite sometime and love your videos, glad to have found you here on Steemit!

$0.00

hridoy23 (51) · 7 years ago

ow..its really great video about cryptocurrency

$0.00

epelius (44) · 7 years ago

Great one! Just got into Steemit few days ago because of you :) Thanks man.

$0.00

dragonsquaw (36) · 7 years ago

has anyone compared Akasha and other potential social media blockchains to Steam as far as utility, code practicality, and user adoption market capture?

$0.00

nainaztengra (79) · 7 years ago

Dear Louis. I watch most of your videos on youtube and must state you have a great vision on cryptos. Wasnt aware though that u are on steemit as well until this video :-) . Lets stay connected. Indeed steemit can go a long way and we grow together by supporting and complementing one another. Regards Nainaz.
#thealliance

$0.00

yankee-statman (61) · 7 years ago (edited)

NOT jumping on SILVER here (gold) today..(diversify) will prove a mistake of massive proportions..trouble lurking...dollar to self destruct under its own debt mountain and has begun..see yankee statman..upvoted following

$0.00

immortaleddy (27) · 7 years ago

Great video man, I really believe steem has a great future this year.

$0.00

lollobrown (35) · 7 years ago

In finance, a futures contract (more colloquially, futures) is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future. The asset transacted is usually a commodity or financial instrument. The predetermined price the parties agree to buy and sell the asset for is known as the forward price. The specified time in the future—which is when delivery and payment occur—is known as the delivery date. Because it is a function of an underlying asset, a futures contract is a derivative product.

Contracts are negotiated at futures exchanges, which act as a marketplace between buyers and sellers. The buyer of a contract is said to be long position holder, and the selling party is said to be short position holder.[1] As both parties risk their counter-party walking away if the price goes against them, the contract may involve both parties lodging a margin of the value of the contract with a mutually trusted third party. For example, in gold futures trading, the margin varies between 2% and 20% depending on the volatility of the spot market.[2]

The first futures contracts were negotiated for agricultural commodities, and later futures contracts were negotiated for natural resources such as oil. Financial futures were introduced in 1972, and in recent decades, currency futures, interest rate futures and stock market index futures have played an increasingly large role in the overall futures markets.

The original use of futures contracts was to mitigate the risk of price or exchange rate movements by allowing parties to fix prices or rates in advance for future transactions. This could be advantageous when (for example) a party expects to receive payment in foreign currency in the future, and wishes to guard against an unfavorable movement of the currency in the interval before payment is received.

However, futures contracts also offer opportunities for speculation in that a trader who predicts that the price of an asset will move in a particular direction can contract to buy or sell it in the future at a price which (if the prediction is correct) will yield a profit.

$0.00

pharmacy-jinni (47) · 7 years ago

*THOUGHTFUL ENGAGING COMMENT". love you

$0.00