At first I was a lil uneasy about it, but the more I learn the more fascinating it seems.
Does anyone know how the new SMT's will be valued? Like.. Will it be similar to steem whereas the more people who use a coin the more value it gains? And also will you be able to invest physical dollars in a similar way to buy these coins?
I'm a small timer and not really sure how making my own coin would benefit me, but.. It does seem interesting and I'm thinking about it and ways that I could perhaps try to make it work.
May be it will open gates to increase steem value :) waiting to use it
Yeah.. I have a really good feeling it will, especially if a lot of people start creating their own SMTs through steem, or if some big companies start using it.. It's definitely an exciting possibility in my opinion.
Yes @apolymask , do you know any news about when it is releasing ? We can get more rewards from them :)
I'm running low on VP!!
I like the idea as well. I do see one gleaming caveat, hording. As I understand it, once the SMT is sold and utilized, it is a locked sum. Therefore, over time in efforts to capitalize off of gains, wouldn't it be reasonable to assume that chunks will be hoarded instead of redistributed into the content or a very small numbers of members?
I could be missing something or absolutely wrong on this. Just putting it out there.
I'm not totally sure what you mean.. But how would that differ from what is already happening on steemit? Based on my understanding, they are sort of.. Allowing anyone to easily make their own coin like steem, so in which ways would those new coins be different from the steem one? To me it seems like mirrors within mirrors or micro/macro so to speak. The coins are essentially working the same way aren't they?
As far as I know, they are working in the same manner. Steemit being the blueprint. I'm ill informed on exactly how they keep the currency flowing back to the site instead of being hoarded, just like here.
It's not a big issue, but it could be one I imagine.
This will definitely increase its value over time as the demand will be higher and supply is limited because per day steem mined out of the reward pool is limited.
According to my knowledge, I think SMT is just a token and STEEM is the based currency! SMT/STEEM. As a result of that, anyone wish to build his or her ICO or ITO, should buy SMT tokens and they have to pay for it via STEEM!
Yesterday I heard this will create multiple reward pools! No idea what that means! But I think a bigger plan is there and everything is upon STEEM block chain and STEEM is the based currency for all!@apolymask,
Cheers~
amigo #resteemia at your service
ReSteemia
'UpVoted ReSteemed Commented'
Well I wish that I could tell you but I am totally clueless. It took me a week of intense research to figure out the difference between sbd steem and steem power.
https://steemit.com/steem/@stephenkendal/why-the-proposal-of-leveraging-the-steem-blockchain-with-social-media-tokens-is-massive-news-effectively-becoming-a-gold-backed