WHAT'S CAUSING THE PRICE HIKE?
Generally speaking, it's almost impossible to tell exactly why certain cryptocurencies prosper while others crash. But when it comes to SmartCash, the recent buy has occurred within a week after the hive team has released their easy-to-use web-based and mobile-friendly wallet. While the webwallet is centralized and not recommended for long-term holding to help decentralize the currency as much as possible, it does give quick access to both speculators and everyday users who may want to take advantage of smart rewards as well.
THE BIGGEST CONCERN
One of the biggest concerns I keep running into which is raised by crypto enthusiasts is the large amount of holdings by the hive team. While this is a decent concern and was one of my initial concerns as well, it's actually a good thing when you think about how these coins are going to be used to fund the project. Let's not forget about the costs of servers, development, support and promotion. SmartCash is designed in a way that it's going to remain self-funded through dedicating 80% of the block rewards to the community budget.
SMART MINERS ARE HAPPY WITH 5%
Miners generally only care about the price. If the price of a coin is worth mining, they will mine it and will then dump the coins on the market. There are however exceptions where miners only mine coins they believe in its future, in which case they end up accumulating most of the coins they mine, rather than dumping them on the market. In my opinion, a project that encourages and attracts miners, developers and investors with long-term visions, has some really good shot in the crypto market. That's what SmartCash is about. It's designed to attract people with long-term visions.
NOT EVERYONE IS A MINER
Imagine if SmartCash was designed like Bitcoin and miners got 100% of the block rewards. Would the founders announce the project to the public so soon? Or would they try to mine at least half of the coins themselves before announcing it to the public? And even after that, how many miners are there in the world of cryptocurrencies? Would giving all the rewards to miners really help decentralize the coin? Or would it be better to split the rewards between developers, investors, miners as well as anyone else who would want to get their hands dirty and do something for the community? I don't know about you, but I would go with the latter. And that's why I love SmartCash!
WHAT SAY YOU?
Tell me what you think about SmartCash below. Do you want a tip in SmartCash? Resteem this post and leave an original comment below and let me know what you think about SmartCash and the future of its blockchain and I will ask @smartbot to send you some smart coins! Please be original and don't do it just for the tip! No tip for bots or those who aren't original! Sorry bots!! :]
SZcWh2PqV5SDWSz23GH69KTB1nfCmGmR8d
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I like the way SmartCash lets people participate form the very beginnen. Also, it let's everyone share in the rewards, this creates a good userbase for sure!
@smartbot tip @skytrex 50
You're right sir. I agree :]
Tipped @skytrex
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.082 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
I struggled with the webwallet. I carefully put in my username and chose and typed the password twice, and it's saying they don't match. I'll try it again when I get some time.
@smartbot tip @mattclarke 50
That's strange. Maybe try joining the slack channel and ask for help in the support or webwallet room? I don't have any issues logging into my webwallet at the moment! :]
Thanks for all your help, by the way :)
Your welcome :]
Tipped @mattclarke
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.084 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.Hello friend, recently (a week or two ago) I found out about the existence of the SmartCash, I still can not understand it well, but it is a matter of investigation. I was wondering, how is it possible to win SmartCash? Just like any other cryptodivisa is only mining? or have another system to produce Smart as Steemit. Greetings.
Check out our slack channel and forum. You can win smartcash by participating in the available programs. We currently have a video and writing contest going on and I'm going to submit this post to the writing contest myself :)
Thank you very much!
We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
have loved the value jump the last few weeks no doubt - I as well am interested to see how the smarthive works out in actuality. Great concept, that I believe can take off, obviously we need to see it work. Just did a little write up on what flatuxx and his team did in Venezuela...thankful to be apart of this...
here is the link if you want to check it out
https://steemit.com/smartcash/@breakthrough/smartcash-an-altcoin-set-apart-from-the-rest-venezuela
@smartbot tip @breakthrough 50
Good on you mate! :]
Tipped @breakthrough
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.085 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot help
You can use the following commands:
balance- displays your current wallet balanceaddress- displays your deposit addresswithdraw <address>- withdraws your whole wallet balance to specified addresstip <nick> <amount>- sends the specified amount of smartcash to nicknameterms- displays terms and conditions for using @smartbot@smartbot withdraw SW6u4JyX2W3rArWQNowox6M9mxg2wHsn5V
@breakthrough:
49.99 SMARThas been withdrawn from your account toSW6u4JyX2W3rArWQNowox6M9mxg2wHsn5V. You have been charged0.01 SMARTwithdrawal fee. Transaction5f91412d7db3d246fed4ba50f557a50452accf26fc675b32db150a50e597cea5is now completed.We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
You know I'm loving it. :)
Do you have plans to opensource your Steemit bot? I was thinking it would be cool to have a BTS bot as well. Maybe even let people create their own personal coins on BitShares and have the bot support those also.
@smartbot tip @lukestokes 50
Oh trust me @lukestokes, I know! :)))
And sorry! No plan to open source @smartbot yet! But in the future, maybe :P
Tipped @lukestokes
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.089 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.Thanks for the tip! I had to ask. :)
Your welcome! I'm not alone at making that decision, you know :P
Not sure what you mean... are there multiple developers involved? Did it start as a fork of the TipU bot and are there licenses to be concerned about?
BTW, did you realize that the grace period for smart rewards is removed? If you wanna download the blocks and set up your own wallet, you better do it before the 25th unless you're happy to stick with the web-wallet...
Yep. I'm okay with the web wallet for now as I have my private keys saved securely and I assume, if I ever want to transition to a different wallet I'll be able to import those private keys. At least, that's my hope. :)
Thanks for looking out.
No it's not a fork of TipU and I'm the main developer involved. But it's a work for our community that has gotten paid from the community's budget to help promote smart on steemit and the decision was not to open source it so that we'd be the unique altcoin here with a tipbot for at least a while!
I just haven't heard too many people outside of steemit talk about it. I think I'll just wait until I here more people look at the white paper and share their thoughts on the project.
No worries mate but usually the only people who speak about something in a positive way are the people who have invested in it. Some people might be planning to buy significant amounts and then speak about it because they know that if they speak about it, it'll soar!
I originally invested in SMART because I thought it look like a good project to invest and it has plenty of potential for growth. The more I learn about it the more I like it. I'm looking for ground floor opportunities because I wasn't lucky enough to get into Bitcoin when it was $1.
@smartbot tip @kevindixon 50
Good choice and decision mate! Good luck :]
Tipped @kevindixon
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.082 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.#smartbot help
#smartbot help
We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
Excellent project. I don't know why but I find it very interesting. I think you're right that the idea of giving all the block rewards to minors doesn't seem to attract anyone anymore :)
@smartbot tip @katesmith 100
Absolutely @katesmith! You can say that again sister! :P
Tipped @katesmith
100 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.065 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.balance
@katesmith has
Σ300 SMART(unconfirmed:Σ0 SMART).withdraw ScYs9QETq2VusSwJzDB59jd6ajJayhdxiD
@katesmith:
Σ299.99 SMARThas been withdrawn from your account toScYs9QETq2VusSwJzDB59jd6ajJayhdxiD. You have been chargedΣ0.01 SMARTwithdrawal fee. Transaction657744fb87936609634d875c7da44b270b042fb1e46ca343eb99fef1bbfe0eb9is now completed. To monitor the transaction status click HERE.Thanks mate for introducing me to Smartcash. I’ve been reading up on the project over the past couple days and have joined the Slack. So far really impressed by what I have read. Now trying to work out how I can contribute.
@smartbot tip @nextgen622 50
You're welcome brother! Did you read up on the writing contest? I've submitted 3 articles so far and this one is the third one. There's 100K smarts in the prize pool and there's going to be 5 winners! :]
Thanks mate. Yes I did. I will try to write something, but been really busy recently with both of my kids being sick.
Tipped @nextgen622
50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.062 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot withdraw ScVUBkrP7JVCDNjzMsUkUYkmBbz9yAbxje
I'm totally new to actually owning cryptocurrency and I have to say the downloadable wallet was really easy to setup and use. It took a good while for the blockchain to fully update at the current/present date, which makes me worry that in the future, it's going to take a painfully long time for future installers. I think in the future anyone who creates a currency should think about this complicated issue, and come up with a way for the update to happen much quicker.
The SmartCash wallet is very intuitive overall and after asking a couple of questions about it to the folks on the support channel of the Smartcash slack group, I had a very solid grasp of how to use it. I haven't sent anyone smartcash yet, so that's one area I still need to get some hands-on practice. When I looked at the send currency section in the wallet, there were somethings that didn't make sense to me but I don't have any more to say on that topic yet until I successfully send someone cash, but something seemed unintuitive about it at first.
In the folder I normally keep the SmartCash wallet though, I accidentally clicked the re-install and almost had a meltdown worrying that I might have destroyed my laptop wallet and lost all my SmartCash. I think the smartcash developers should do something to make it clear about which item/icon you click on to open in the smartcash folder that people have on their desktops so they don't accidentally re-install it (I made that stupid mistake in my early first days using the wallet). That was a bit nerve-racking when that scary issue happened, but it turned out to be a false alarm, I stopped the installation and was OK. Thank goodness someone from the SmartCash slack group helped me with that issue.
Honestly, I think 5% set aside for Miners is a bit on the low side, I would have put it at closer to 10%, because even with my limited knowledge of cryptocurrency, I think in a pie-in-the-sky sense, you would want to attract a good population of miners, they are typically IT-oriented people who are willing to make long-term investments in hardware equipment and knowledge. I would think building a strong miner community would add a special element to the currency's outreach efforts.
80% for the community, I'm not sure how I feel about this one, I think I'm going to need to learn more before I make an educated statement on it. Having that large sum can be both good or bad, it has the possibility of being abused or used to the great benefit of the SmartCash community. I just hope there isn't a lot of pork barrel spending with those funds. I hope they are spent wisely, even with voting as partly shaping how some of those funds are used.
@smartbot tip @markrypto 100
Thanks for the long comment! Miners can earn more than 5%. If they hold for example, they get 15% in rewards and if they actively work for the community or participate in promotions such as the video and writing contests or giveaways, they can even earn a portion of the 80%. Not everyone is able to mine or can mine so by splitting the rewards this way, a wider range of people can benefit from the block rewards by getting involved in the project which results into what you see now. We've made it to top 100 cryptos in just 3 months! That's quite a big achievement and it's only been possible because of the way block rewards are being distributed. Also, the project aims towards automating the community budget so later on all payments will be automatic based on the votes cast by the community.
Tipped @markrypto
100 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.062 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.Enjoy the tip and remember a succesful crypto project requires more than miners and the projects that give all the block rewards to miners are usually heavily pre-mined before the launch!
I guess the question that comes to mind is what percentage do you set aside for miners? In one sense, building a community of miners can help to grow interest in the cryptocurrency, on the other hand, as you said you get people who strip-mine. Couldn't one argue that having a healthy mining community will draw knowledgeable IT-oriented people to the currency? I don't know enough about the subject to make an educated argument on both sides, but my challenge to you is if you were asked to argue the other side, for more than 5% for miners what would your argument be?
Miners aren't the only IT-oriented guys needed for a crypto project to succeed. You need developers, programmers, testers, graphists, advertisers, marketers, writers, video makers, etc. I wouldn't really try to argue for the other side because miners don't do any actual work. It's all done by the computer and as long as there is profit in it, there will be people who would be happy to dedicate their computers for mining purposes.
So then what is the purpose of miners? What purpose do they serve for the good of the cryptocurrency if all they do is buy expensive equipment, kick back, burn up the electricity bill and then collect e-cashola in the process. If they serve no purpose, why even have them at all?
@smartbot withdraw SfR3QRfQpWH4zvrsyUx4UdxqbCtgVqcyT5
@markrypto:
99.99 SMARThas been withdrawn from your account toSfR3QRfQpWH4zvrsyUx4UdxqbCtgVqcyT5. You have been charged0.01 SMARTwithdrawal fee. Transaction010ce524a5b51122194610b3bc6977eeff58b43b35c94705ebe65ae5247d3705is now completed.We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
This is brilliant @msg768. I'm proud of you brother :)
You got my vote and resteem for sure!
@smartbot tip @insiders 100
Thank you very much for your support brother!
Tipped @insiders
100 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.069 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.For everyone that missed opportunity to invest in bitcoin I think smartCash could be new bitcoin in terms of growth.
@smartbot tip @stock84 100
Yeah baby! I think so too!! Succesful projects need funds and the way SmartCash is designed is that it is going to remain self-funded for long enough until it makes it to the top of the list! :P
Tipped @stock84
100 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.073 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot withdraw SQypALbzpegQFbFAKW8oJG5G6uygNR8Zi1
@stock84:
99.99 SMARThas been withdrawn from your account toSQypALbzpegQFbFAKW8oJG5G6uygNR8Zi1. You have been charged0.01 SMARTwithdrawal fee. Transaction85d3e6b85f405894244fb7a4261bc796fbf62a81609c8eb6e54c924176f4334eis now completed.We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
Great post, Smart Cash has a lot of potential and I think we will see that realized. Thanks for the read upvoted!
I really enjoyed this piece. What i see as good sign in fruitful investments is when a community is relatively small. But very active nonetheless.
Getting into SMART now will be like getting into Dash in 2016. Very soon. #moon
I want to know one thing; What's the max amount of smart to ever exist?
@smartbot tip @shilai 40
Thanks! Maximum supply is 5 billion. You can check it on coinmarketcap.com!
Tipped @shilai
40 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.071 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot help
You can use the following commands:
balance- displays your current wallet balanceaddress- displays your deposit addresswithdraw <address>- withdraws your whole wallet balance to specified addresstip <nick> <amount>- sends the specified amount of smartcash to nicknameterms- displays terms and conditions for using @smartbotwithdraw SZEzTt2Vn5SqTAV9NXJEutCmjE93xnzc1B
@shilai:
Σ39.99 SMARThas been withdrawn from your account toSZEzTt2Vn5SqTAV9NXJEutCmjE93xnzc1B. You have been chargedΣ0.01 SMARTwithdrawal fee. Transactionb995e7dc3ab623bb5f6e5dc26dfa25652a33fdcb7295edc67a8b12619ffeb5e4is now completed. To monitor the transaction status click HERE.Thanks :) @msg768
We have splitforked under a new brand called swiftcash. If you haven't heard yet, come check us out on discord.swiftcash.cc and make sure you claim your coins before the deadline if you had any!
I’m a Smartcash enthusiast. Got in at the lowest dip when all the hype was on everything else. What amazes me about it is the the transaction speed. It was almost instantaneous when I transferred some from my Cryptopia account to the web wallet. Still spreading the $Smart word on Twitter and hope that more people are aware of this great sleeping giant of a project.
@smartbot tip @kasou80 100
Keep it up bro! We're gonna smash bitcoin one day with $smart! Bitcoin is slowAF!
Tipped @kasou80
100 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.068 USDperSMART. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot help
You can use the following commands:
balance- displays your current wallet balanceaddress- displays your deposit addresswithdraw <address>- withdraws your whole wallet balance to specified addresstip <nick> <amount>- sends the specified amount of smartcash to nicknameterms- displays terms and conditions for using @smartbot@smartbot address
Your deposit address is
SigEvPTvguH8cqv6QTuMhQfP9vRhge4k3S.Thanks for the tip bro
Your welcome :]
upvoted and resteemed!
Good post