The new steem.io site is so much clearer and more concise when it comes to describing Steem and Steemit that it actually cleared up some misconceptions that I didn't even know I'd had.
It's a little embarrassing, but I actually thought that Steem was going to be the backing for SMT's. That doesn't seem to be totally accurate based on what I understand after having read the steem.io page.
Steem needs to be regarded as distinct from the Steem blockchain. Steem is a token on the Steem blockchain. The thing that the steem.io page drove home (by saying it outright) is that steem can itself be regarded as an SMT. It's special only because it's the first one.
SMT's in general, however, will open up the Steem blockchain, and with the infusion of value raise the price of Steem.
This is everything as I understand it now. I think it's less wrong then what I thought before, anyway.
Friday, November 3, 2017
Source: screen capture by yours truly
So in reality SMTs may have no effect on the price of Steem and can become very successful in their own right. I hope the blockchain will be able to cope with all the perceived transactions.
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I had this same thought and am not sure it's true. I think SMT's WILL really raise the value of Steem, just not in the way we thought.
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This is literally every day of my life.
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Lol. #thecryptostruggle
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The struggle is as real as it gets.
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