I'd read 10 posts today and soo much excitement. But no one explains in simple words how is this connected with steemit and price of steem. It looks like is obvious to everybody that the price will rise. Except me. I'm sure there are many people who don't want to embarrass themselves with this question. Or am I the only stupid one here?
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Oh no! That's not a stupid question at all! Maybe we just took the audience for granted.
In short, the more used a coin is, the more value it has. Just like Bitcoin drops when it's banned, and gets much more valuable as more people us it. When only a few were using it was 30 cents and the more it gets used the more it's more valuable.
With the SMTs all these media coins will be on the STEEM blockchain, so the wider the combined use of all, the more valuable the whole thing will be.
Hope that helps!
I'm one step closer now. Thanks for your time.
You got it. And don't hesitate to ask if you have any questions.
I had the same question. It kind of seems like making a cryptocoin derivative out of an already existing cryptocurrency. Which could initially deflate, but ultimately inflate the value of steem dollars, if I'm not mistaken.
@littlescribe, just to answer this question you seem to be putting everywhere :)
STEEM is a currency on the steem blockchain, SBD is a currency on the steem blockchain, GOLOS is a currency on the steem blockchain.
DTube is a platform on the steem blockchain, Busy.org is a platform on the steem blockchain.
What is not is a platform on steemit.
It's like Microsoft has so many programmed built on it. It's like apps being built on the operative system.
That's the closest metaphor I can give and I hope this helps :)