SMT´s are scheduled to go live within this year, which might change the steem ecosystem forever. The expectations within our Community are big and pretty much everyone is looking forward to the release, dreaming of a massive price rally towards double digit values or above.
I´m as well counting on great things to happen after the launch of SMT´s, which will all be based on the steem blockchain. The internet might get covered with websites running with their own smart media token. But that being said, what will ultimately happen to steem itself?
I really like the status of @robert-call, which indicates that steem is for investors while SMT´s are for the content. I´m actually sharing this view in some way but would rather see it as a longterm outcome than one that could be expected in the short term.
What I´m interested in is your opinion on this. What do you think will happen whenever SMT´s will launch in 2018? What will happen to Steem?
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Thanks for this post!
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Honestly, I am expecting that SBD and STEEM prices will increase when SMT launch.
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My feeling is the value of SMTs is the traffic that will be drawn to the STEEM blockchain. From what I understand about the protocol, it provides a great deal more than the ERC20 protocol ETH uses to ICO tokens. This could put STEEM on the roadmap.
Therefore, will SMTs directly impact the price of STEEM? No. However, with the tokens created being on this blockchain, the additional traffic will. I believe it is a gateway to really growing the ecosystem. This will be huge.
As for the content link, I agree with that. SMTs are a protocol to allow content creators to monetize their sites. This could foster a new wave of content innovation that we are not even focused upon. Common sense tells us that sites with commenting, upvoting, etc... are all potential candidates, yet there will be other things that we arent considering.
That is the wonderful aspect of decentralization.
Now if the crypto market would shake off the bear...it looks like you were right...this is going to extend a little while longer....perhaps as we near April, the bull will awaken.
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i totally agree with you point of view, the smt really will make the steem blockchain get more awareness as lots of monetization from websites of their contents might take place.
the bull is about to be awaken, and the best parts is the ability for any one to create its own token under the steem ecosystem as this will great path for many other tokens like the ethereum platform.
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I've not read the SMT whitepaper (I really should get around to that), but my impression is that Steem Inc are betting the farm on SMTs taking off and having a huge impact on the platform. And I've seen interviews with Ned, where they're talking about partnering with some big, household publisher names.
So, I am excited, but I try to not get carried away. I'm on Steem for the long-term and I will be investing more money, and a lot more time into the platform, but I'm not counting on massive growth in the price of Steem. If it happens, I'll be delighted, but I'm not counting on it.
I think the more you're invested in Steem, the more you're excited, and hoping to see Steem rise to $10, $20, $50, $100...because you can imaging your $20k, or $50k being turned into millions, but I think it'll be a long, hard slog to get there. And you never know whether another blockchain will challenge Steem in the future.
So, I guess I'm cautiously optimistic (fingers crossed) :)
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Another couple thoughts hit me...
SMTs are going to be evolutionary. They will start as a testnet allowing people to try it out and work out any bugs. Then, after it is released, it will take a while to really have an impact. ICOs do not happen overnight.
I think the upgrade in the sign up process, which should be taking place as I write this, is going to have a greater impact on STEEM in the short term. If we can see it streamlined in the next month, that will allow more people to come on here in a faster period of time. That is what is needed.
STEEM's growth rate has been terrific yet I feel there are more being missed out upon with the manual sign up process taking so long to approve people. Automating that in some way and getting more people through will only help the daily active user count. Then, we will see the antics of FB and Google with their ban, flag, and censor buttons really helping STEEM.
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Its anyones guess to know what will happen once SMT's are released. I just learned about them a couple weeks ago and of course I was blown away by the vision that Ned has laid out for the future of Steem. I would guess that if they are successful in adoption it would raise the price of STEEM in the way that ETHs price did. Of course, I also read the negativity on here. And I do see why people are concerned with the the future of Steemit, and the lack of progress on the website (trending, etc). Im really looking forward to the "Communities" feature, on Steemit. Maybe even more so than SMTs.
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Honestly I hope that it does influence for good.
Especially considering that there are many people who are betting on the growth of the platform, among those people I am.
Greetings from Venezuela.
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Why?
SMTs are nothing new. There are already other platforms that allows anybody to create his or her's own token in just a few minutes.
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I have no idea what the smt revolution will do to Steemit. I kind of want to start a coin and try and get people from a community i am in on facebook to move here. Not exactly sure how it all works. Could be some great content
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I’m excited for a couple reasons. The first being, I’m hoping to get some of each of these tokens because I own Steem Power. How awesome is that? I don’t think that same principal applies for ERC20 tokens. The second is similar to what @taskmaster4450 said. I think this will put the steem blockchain on the map.
Is there a SMT you are the most excited about??
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