This is a question that is going to be increasingly difficult to answer.
The pending introduction of the SMT protocol is really going to change things on the Steem blockchain. We are already witnessing many applications "paying out" native tokens which is a wonderful thing for Steemians. This is going to cause many to have to evaluate the situation in a short period of time.
We are already seeing some applications offering the choice between STEEM and their native token.
@actifit, as an example, allows one to take the usual earning of STEEM/SBD from a post in AFIT tokens. This means that the user can increase his or her stake in that platform through the upvotes that others, including the Actifit account, give it.
One of the biggest advantages to the Steem blockchain as it pertains to coin creation is the fact that all SMT created tokens are paired with STEEM. This means instant liquidity and a path for people to turn SMTs into STEEM (or some other cryptocurrency).
I think many have the idea of doing just this when these tokens hit the open market after the internal exchange is set up. On the surface, this is a great way to power up one's STEEM account.
However, is this the best move? Only time will tell and it will be upon an individual basis. Yet, we should keep in mind that one will have a decision to make: STEEM or the SMT???
We see what some of these projects are doing. The reach of some of them can be enormous. Steem is turning into an application factory with all the development we are seeing. Someone mentioned there are over 500 projects in the works. I do not know the validity of this claim but it would not surprise me.
Naturally, not all projects will work out. There are going to be failures. Tokens will end up worthless. We all know this. However, there are going to be many that will be screaming successes. Those tokens could be very valuable down the road.
So what do you do at this point? Do you opt for the Actifit payout in STEEM/SBD or in AFIT? Again, this is an individual choice that has no clear answer. There are people who are doing both out there. Nevertheless, it does emphasize something we must start considering.
What is going to be more valuable in the future: STEEM or a particular SMT???
For the moment, I am acquiring all the different coins that I can on this blockchain. I really cannot tell anyone which projects will succeed versus which ones will not. My preference is to watch the development to see what is taking place and how applications are changing. I tend to focus upon the trio of @actifit, @dlike, and @steemhunt as coins to acquire.
Speaking of a changing application, there was a post today by @dlike which was rather interesting. It appears this application is going to have a ton of tokens created upon it.
As per SMT white paper, once dlike SMTs are launched, each of the category will have its own sub-tokens totally owned and run by the community owners
@dlike is going to be split up into "sub-dlikes" with the ownership of the categories turned over to different people. This is a step towards truly decentralizing the application. Each category will have different owners along with tokens created for each.
https://busy.org/@dlike/why-you-should-delegate-to-dlike-and-future-dlike-updates
Of course, for those who are participating and active in a particular community, the tokens will be one's currency of choice. This will allow for rewarding of content, upvoting, and an assortment of other payments that I am sure haven't been thought of yet.
For my entire tenure on the Steem blockchain, STEEM was the token everyone was seeking. Powering up is what gave one stake in the blockchain while enhancing the standing. This could be changing. While it will still be the case for the blockchain, as the applications spread people out based upon interests, many will not care about the blockchain. To them, it is all about the application. Increasing one's standing/holdings on the platform for the application is where many will focus.
It will be interesting to see how people handle this going forward. Will many convert their SMT tokens to STEEM or will they want to power up at the application level?
If you found this article informative, please give an upvote and resteem.
None of this is financial advice. It is just an article to make you think about some things. You draw your own conclusions.
How i can know how many AFIT tokens one Steem is worth today? Is this ratio been anounsed, and known today ? Am I missing something ?
How ACTIFIT is doing this convertion?
Whatever this ratio is, is should be the same for all participants, right ? At least for a certain period of time.
hey @onealfa,
yes we announced this a while ago :)
Here is the official announcement: https://steemit.com/actifit/@actifit/actifit-android-v0-4-0-beta-launched-image-uploads-maximizing-afit-earnings-afit-pricing-and-supply-charts-security-and-more
You can find the price table within for AFIT/USD which allows this conversion
I'm just testing something, please carry on :) !subscribe 0.2
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off-topic to post [ sorry taskmaster! ], but tipu is amazing. Keep up the great work cardboard :)
what you have to look at is that every smt that runs on the steem blockchain needs steem power. I'm collecting all the tokens but i'm concentrating on accumulating SP for delegation. There should be no problem making 20% on all your delegated SP 24/7 without having to do anything else.
This is my thinking aswell.
How does everyone feel about using the private posting key to post from actifit? I trust Steem connect, but I wonder about giving out my key to actifit any comments?
Good post, I really have not looked into these yet, I will now. Thanks for giving us all some info to start learning.
Resteemed 👍
Also check out @cleanplanet. Earn rewards for picking up trash in your community.
Will do, I am going to download Actifit. I have sweatcoin now, but the tokens are not Crypto at the moment. I hike about 5 miles a day, unless it’s pouring rain. Just being able to post and earn, and the possibility of SMT interacting on Steem might be a winner👍
Do you use this appp, what do you think about it?
I use Actifit almost daily. The UI is functional and simple. Nothing compared to Strava or Runkeeper but it gets the job done. I support Actifit, hope it takes off.
Thats the beauty of it all is there are no rules and just choices. I like the idea of being able to go back and forth like trading Ethereum for Monero and such as well as the notion of diversifying into SBD, STEEM, or any of the native tokens.
It will be neat to see which ones survive and make sure to keep an eye on others for ups and downs for sure. It is just choice which is awesome.
Great discussion point for sure.
Is steemit going to be a sister chain of EOS at beginning of 2019?. I thought I heard steemit was planing on joining forces with EOS..
Where did you hear this?
Let's go with SMEET.
I think it will depend on how much SMTs will rely on Steem reward pool to keep their incentives/finances going. Those that can offer incentives and operate their finances without relying on Steem reward pool probably will be the most successful.
Very good point. SMTs should be seen as a quick startup to your own token, not as a dependency. Any service that can develop its own use case & internal economy for their custom token will be light years ahead of the rest in terms of real value.
I think it boils down to the future uses of the SMT. In many cases, people will be collecting the pre-SMTs as a side benefit with the main goal being an upvote from the dApp. However the SMTs that will be sought after and more highly valued (perhaps even eclipsing steem itself) are the ones like HUNT tokens that have a clearly defined and articulated usage in planning.
The benefits derived from holding a particular token will define their value.
Thanks @taskmaster4450, I always appreciate your posts.
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Yep ... I'm having this dilema to :)
At the end it will be about the comunity base they have build, and the willingness of that comunity, or maybe a companies to use the token. And for what some may ask.
Well .... the attention:)
Its like investing, build a portfolio, diversify for stability id say.
I can see a lot of peaple moving away from steemit and into dapps. With lots of peaple now delegating SP to dapps be it for ones they use and some just hoping for some extra money.
I love getting all the tokens but I always opt for steem/sbd when the option is there. Like you said, you never know which ones will fail.
I think that it will also depend on the individual economics of each SMT itself as some would probably create ecosystem of their own where you can acquire goods and/or services from the communities in exchange for SMT. This could cause demand of the SMT themselves and this increase their value. For example, subscription based content could be another possibility that could cause more demand for a SMT instead of the Steem.
I wonder if projects like Busy will allow STEEM to be used alongside the Busy SMT so both can be powered up simultaneously. Or will one have to buy the SMT to get the power up effect that STEEM has for Steemit.
If I understand correctly, STEEM is the main token to power on the Steem blockchain. SMTs will have the same ability so we will have to power up the SMT (Hunt power as an example) if we want to have a stake in that ecosystem. Of course, as we are seeing with some of these apps, they are using different ways to determine power. It is vastly different from stake based voting.
The demand and value for Steem will continuously increase, as more and more dapps are built on Steem blockchain and the dapp tokens paired with Steem. The same cannot be said of the dapp tokens.
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"pending" means.... when?
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I think SMTs are going to shake the game, for sure. Question is, will it be a shake-up, or a shake-down?
Dapp developers need to focus on their core MVP first, otherwise they're just setting up an elaborate rube-goldberg-esque machine that will shoot them in the foot come March ;)
Great post and it will be interesting how SMTs will develop over the next year and beyond! Big user of Actifit here and just getting into dlike now. I've heard of Steemhunt, but I haven't engaged with the application. Just not type of person to go searching for techy stuff.
Just wanted to ask as I don't know if you have done a post about this or not (if so, please send a link), but it would be great if you could do one about the breakdown of these three (Steemhunt, Actifit and dlike) Dapps. Like a mini profile/comparison and analysis of each one in one post. About their "use case/Proof of... " and how to obtain/gain their tokens. How many total tokens there will be (like I believe dlike is 800 million)? And any other useful info etc. It would be very helpful to get a better insight to some of the early SMTs before more come around and then it could get more confusing.
Hope you can do such a post 😊 no worries, if you can't, just asking/prising this idea as lot of your posts are about these SMTs, so thought you would be the best to explain it all. 😁