SMT's is the direction in which the Steem blockchain is going. After Steemfest 2 that is clear to me.
It doesn't mean that Steemit.com will be left behind. I think it will still be the biggest community on the Steem blockchain for a long time but it will no longer be the only one. (once SMT's come into existence).
This is something I have accepted and I am happy with. The more communities the merrier. I think it will create many opportunities that we can't even begin to imagine.
I think everyone that has been here from the start feels deeply connected to the Steemit community. It's like a small family.
But realistically once millions join the platform it can't be like this anymore. Just like Apple Computers couldn't operate from a garage indefinitely. It has to grow up.
I could already feel it at SF2. It was a little bit more business wise than last year. And so it should.
I think the fact that anyone can create an SMT and try to create value for it in their own community is an amazing idea. Whether that is you or me or an existing business.
Luckily for us, the Steem token will be the most important token of all the SMT's for now, so being able to earn that today either through blogging, curating or lending out your current Steempower is really cool.
Or in my case, a privilege. Because it's the first time I got into something early (before the masses) that has the potential to be huge.
I talk about it more in my vlog.
Good to see that we are getting clearer about steemit, SMT.
I need to know is this why steem value is degrading?
Or is there a parallel between steem price and SMT ?
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The only question I have is;
will EOS eat Steem alive? Or do you see a shared future for both platforms?
Thanks!
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Steem can always scale better than EOS. STEEM can always offer synergies to smart token communities supporting sustainable business models through rewards while EOS tokens cannot. Steem can augment bandwidth calculations in synergy with smart token communities to give them value based on bandwidth consumption while EOS cannot. This all comes down to application specific blockchain architecture (Steem) versus general architecture (EOS) and economics of the base token, both vastly superior in Steem.
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good to see you more in here, may it long continue! and thank you for all your answers from steemfest to my audience questions! looking forward to the next steemfest! :)
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It's cool how you've replied to a comment on a post that isn't tagged with steemit or smt.
I have a question about SMTs. Apart from hosting its own web server and buying a domain, what is the cost for a website to create its own SMT? If it is free, why so?
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thanks for ur presence on these threads Ned, it means a lot to us all, while helping clarify the arguments we can be putting forward about steem!
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I thought EOS had a bandwidth consumption thing also.
It would be very interesting to see a more elaborate post on this subject.
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I haven't been around for a few months now, busy doing other stuff like finishing my studies. i did hear about SMT's, but didn't realize how important this was; it was great having such insight on steemit from someone who is a regular on this platform, thanks!
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@exyle I am very comfortable in the fact that you and I and others are already here on STEEMIT. The others will FLOOD in once they understand how much they can improve their lives from creating content and commenting.
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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
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Thanks! Great explanation and info, makes sense.
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You are absolutely right, my friend, the more opportunities for development, the better for all and for each of us. I am especially grateful for your words about the fact that we are all here as a family, I particularly liked it! Thank you @exyle
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nice video and post my friend, well i agree with your points steem blockchain is defiantly heading towards those SMT's and i think they will be huge, with those SMT's steem surely gains more growth and more and more peoples able to know about steem and it surely helps the price of the steem, i personally thinks that SMT's are the game changer and we might not able to see 0.85$ steem again and i 100% support those SMT's, i think they won't damage the steemit.com either, they only gives more strength more power to steem blockchain and helps steem to go to the moon, thank you very much my friend for sharing your steemfest2 experience and information with us, it's really helpful to proceed, Stay blessed
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I by now know there is a lot of potential. I do hope there will be a more visible timeline for all nice things that are upon us.
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kinda pumped for SMT. needed to really get these development ideas together and learn to 'roll my own' -- that i learned at steemfest, if i want to build i just gotta jump in and do it.
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That is true! I had no chance to say goodbye but man thank you for the good times.
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pleasure was all mine, we had a blast!
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You are right, @exyle. Though I did not come in early, I still feel I'm early enough. I tell my friends that a time will come that they will regret not being crazy about steemit the way I am now because this platform has the potential of making one really fulfilled. I see price of steem rising to at least $5/ steem at inception of SMTs and that's a big plus to anyone earning at least 10 SBD daily. @greatness96
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@exyle,
"Because it's the first time I got into something early (before the masses) that has the potential to be huge."
Well said dude this is how I feel about STEEM! Great review and thanks for sharing such useful experience!
Cheers~
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Cool. sory friend.
https://steemit.com/animal/@safrijals/black-profit-spider-2017117t185339113z
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You will think and sleep better after several trips to the gym. Don't forget or ignore that part of your life. It may not seem critical, but it is important.
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Really curious what kind of communities and ideas we're gonna see once SMT's are ready to be launched.
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You and me both!
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Now I just need to figure out what an SMT is
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Smart Media Token. more info here: https://steemit.com/steem/@ned/announcing-smart-media-tokens-smts
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How many times in the tech world has this been seen before. The small family business expands becomes successful gets a name. Then the inevitable, you've out grown the house!
As always we're attached to that house good memories growning up and so on.
But we all know, when the next step comes and after a short while everyone is talking about "why didn't we leave the old crap house earlier"
So, I'm all for moving to the big house with SMT's and I look forward to seeing everyone there
Thanks for the thoughtful post @exyle
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As services grow larger, it is always a bit less of a community. The old Twitter felt like Steemit does now, where everyone knew each other or at least were familiar with most of the people due to seeing their posts everyday. These days it feels nothing like that, which is kind of too bad.
I suppose Steem has to go that way too. It's just how things work out. I'm looking forward to seeing where things go next.
Thank you for sharing your thoughts and observations :)
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I for one still have to see SMTs in action in other to get a feel on how they will actually work and to asses their impact. The concept it's revolutionary and without precedent as far as I know.
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Yes the only thing that is constant is change, so steem has to grow. This is good news.
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Good story @exyle. . I wait for your next posting. . . If you do not mind do you want to take a look at my blog?
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really nice video I like this..
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steem is best blockchain i seen ever
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You are Right, And Thanks for Info.
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@exyle - Sir I feel SMT is the innovation of Steem Block Chain.. It will make the path of Steem to the moon... I don't know technical wise how it process things, but SMT is the future of Steem & Steemit is the community feature of all ;) Nice article Sir....
To get more audience, I wish to ReSteem your post.
+W+ [UpVoted & ReSteemed]
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Hopefully there will be a ton of development around this. And then we might grasp what possibilities are there.
The future is exciting!!
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Exquisite
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What's an SMT?
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We are growing... change is always good :)
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This is really amazing.... And it makes me wanna know more...
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This is good news! Im looking forward to SMT!
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Anything for mass adoption, as long as the original system is not abandoned !
Go Steems !
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Hello is a good future for Steemit more trust and this that the page is better than never, are good news
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You make me curious..
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when the next step comes and after a short while everyone is talking about "why didn't we leave the old crap house earlier"
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Good post and interesting vlog.
I am hopeful that SMT will FIX steemit
Unfortunately whales either refuse or don't want to see the the platform they way it is in reality.
So much and so many contributors are being lost with good reason.
Basically boils down to the top heavy $$ of whales vs minnows.
This could be easily fixed by attention to the whale bot voting.
But whales are not going to shoot themselves! (understandable)
So I hold hope that the great concept that is steem will re evolve via SMT's. And a future media platform will exist that contains GREAT content (worthy of long term archiving) that is supported / referenced and linked by a HUGE number of viewers. (vs a minor no of players in a circle playing with themselves, while the mass try & get a look in.)
FingersX SMT's will save the great steem concept.
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Hope it goes the way it is expected and will be waiting for the SMT'S
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The more is always the merrier but it will be interesting how things will work out
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i will they would post the talks or presentations on the SMT. i agree with your post
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