Smart Media Tokens
Credit: Steemit / @Ned
Earlier today @Ned made a massive announcement that he proposes to leverage the #Steem Blockchain by allowing publishers and other content creators to issue their own Tokens on the #Steem Blockchain.
To say that this is massive news is an understatement.
I for one are very excited about the prospect of this proposal and as I mentioned earlier on on Twitter, it has suddenly created a huge demand for #Steem at the stroke of a pen.
$500bn Social Media Powerhouse
A few months ago I made a brave statement and published a Video Blog predicting my vision that the #Steem Ecosystem had the potential to grow into a +$500bn Social Media Powerhouse.
Should the application of Smart Media Tokens be successful then this vision is most likely to come true and therefore after todays exciting news I standby my prediction..!!
Thanks for reading and good luck to @Ned in rolling out the Smart Media Tokens.
Stephen
Shared on twitter. Stephen
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My question is, do you really think Steem will be THE platform? Cryptocurrency is new, and Steem is simply the first social media platform built on it. When you say "Steemit will be a 500bn social media powerhouse" do you literally mean "Steem" as it lives and breathes today, or a future social media platform that will live on the blockchain?
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I, myself, am not certain that Steemit will be what Facebook is now at some point in the future, but I'm almost positive that some social media platform with a token payout system will soon be.
I see Steemit to "tokenized" social media platforms as I see Bitcoin to cryptocurrencies. Because it's the first out the door and has a solid amount of history behind it, with a big community supporting it and building infrastructure around it, it's going to be difficult to come in this late in the game to compete with it. Not impossible, but, IMO, improbable.
It would probably be wise to hedge bets as competitors enter the scene. Buy up some tokens on each of them when the platform is still in its infancy and the tokens can be bought cheaply, just in case they happen to be the one that out-competes Steemit and the rest of the pool.
That way, you're a winner no matter which one ends up on top. The gains of the successful social media platform would far, far outweigh the total in losses.
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I agree with your first point but disagree with the second.
I had someone tell me the other day that Steemit only has 27,000 active users - I don't think that number is too big to overtake. Just like AOL was the king of the internet at the turn of the century, but eventually fell into obscurity, I think that's a total possibility here. I'm hoping it's not, but like you said, I like to hedge my bets.
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Definitely. No arguments here.
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The #Steem Ecosystem will be over +$500bn including the Smart Media Tokens. Stephen
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Shared on LinkedIn. Stephen
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It is exciting news indeed! I think we are seeing a new wave of a revolution! SME's and startups will have new opportunities to create funding without having to beg the banks for loans and the system will hopefully bring crypto into the mainstream before the previous 15 year prediction!
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Well, I sincerely hope you are right, that would make me kind of a multi-millionaire... Who knows!
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I'm glad you weighed in on this @stephenkendal!
I highly respect your input... rEsteemed for sure.
SteemON my friend ; )
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very interesting !
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Wow!!! That is incredible news. You're the first to notify me of it. I have had faith in Steemit ever since I tried the platform out three months prior, and began to educate myself on its functioning. With each day that passes, I have not allowed fluctuations in STEEM price or the opinions of pessimists sway me. I remain very bullish on STEEM and look forward to the revolutionary changes it can bring through platforms built off of it such as Steemit.
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Steem's design is unique, highly effective and proven to work (we're headed for our second birthday) and this news really opened my eyes to the unlimited possibilities available for Steem. Other cryptocurrencies may be designed and blockchains developed but i find it hard to imagine them offering something better than Steem in regards to the social behavior it creates and the communities it supports. Steem is the winner. It solves so many problems in one package. @ned and everyone who has helped bring this into existence are geniuses. I thank them from the bottom of my heart.
one thing that one might overlook is that a lot of STEEM will be powered up and there will be little liquid STEEM available of the entire supply. There will be spikes in demand that will really push the price of STEEM up over the next few months and well into the future. Prepare for an interesting ride.
Thanks @stephenkendal for sharing your thoughts.
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