Hello again Steemians!
I am so pumped to see the inquisitive, thoughtful and excited responses to our announcement this morning of Smart Media Tokens.
I believe SMTs could be huge and can change the internet as we know it.
Here's a video for you guys so I can go into a bit more detail about why the team and I have worked so hard to develop this protocol.
This is really going to be huge!!! The future is soo bright
You are right! Soon every man be able to create own token? then I can to say goodbye ERC20!
I don´t think ERC-20 tokens will go anywhere soon because you can do different stuff with it compared to SMTs. Both token standards are important to create the future internet (web3) we all want.
You're right. Both are good. I do think Ned has the right idea that what is needed is not one crypto to rule them all, but growing ecosystems of different cryptocurrencies, tokens and other applications of blockchain tech.
yeah, totally! I just love the fact that you don`t pay any transaction fees on the steem blockchain. Additionally they are almost instantly transfered. I am very bullish.
hi friends .. may ask for help vote have me
https://steemit.com/photography/@roniakbar623/lakes-located-in-central-aceh-may-be-more-beautiful
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Yes Smart Media Tokens (SMTs) are huge ! Don't miss the opportunity!
yes you are right ,, even the brightness will change the world around us
Can't wait for it to start getting adopted
With the increased workload that this would cause the network will we need to scale and are there scaling plans in the works
Great question. I hadn't even considered that.
Great solution to make Steemit and its technology grow! We are certainly on the way to revolutionize Social Media with the power of cryptocurrency
Steem On!
Great explanation! Steemit.com is a proof of concept compared with what SMTs can achieve on the rest of the internet.
This opens up a plethora of opportunities for the smart people to make things work for them by building on an already established blockchain in form of Steem.
Exactly. SMTs will have the benefits of Steem, plus can be branded and customizable, while the issuer also controls the distribution.
Proof of Brain. Finally, someone has valued the most powerful thing we have. Earlier blockchains have been favoring rich people mostly. While not everyone has enough money, people do have a unique brain. One for everyone; except, may be, Donald Trump. Haha!
Yes, one look at that whitepaper and it's clear we have some strong brainpower on our side. It's a good title.
The sky is just a beginning, for this concept
This could be what Adsense is to Google.
much better than adsense. and have way more outcomes.
Prayerfully, so @teamhumble...Adsense was a let down for many. Is it still around? It was more of a distraction than a value as I recall.
i get a cheque from it. like every six months for like $80 -- it was always a half baked coffee shop brain fart reaction to half heartily paying something to basically put tracking banners on ya site ;) - how things are changing!
how things are changing
Yes....let us with unfettered optimism believe so...
Ah, yes...now I remember the 'disdain' for Adsense...the first syllable...ad(s)...It's obvious YT is (smh) steering deeper and deeper into the world of alternatively supporting 'itself'...
Logging in now means getting a big banner ad for you to have to click off of...rme...
I said at the start, unfettered optimism, so I won't yield to the concern re: Steemit's trek into this world post beta.
Peace.
i don't see it in the same breath if i'm honest. one was made because of a need to pander to the boys in suits in marketing to give them something to sell and get and i think these tokens are way different from adsense, sure it's a revenue path but it's way bigger than the adsense idea. adsense was a code for a standard block of ad space that's ALWAYS been around since we had the 468x80 sized code banner block from netscape 1.0 days. it was kinda an extension to monitize that because nobody had a scooby doo what to do with it to be honest.
this, well this WAY different. why do i say that? well, let's just say this, steemit has been the only forum, conversing, conversational platform i engage with the comments in over a decade because i truly believe that the social ripple effect WORKS here. i think the financial incentive has a lot to factor into that but it also kinda semi self regulates the 'kinds' of conversation that go on here when you find your tribe within the pages.
adsense was just, well, code, these media tokens, well they are like adding a complete ECO system to your existing digital assets! :)
Wow, @teamhumble... You explained this so beautifully! You must copy and paste this into an original post.
Thanks for sharing!
Peace.
I agree...I was referring to the analogy as Adsense is what made Google sustainable for the long haul. It gave Google a revenue source that allowed Google to try so many things.
you can be sure that google will always be around in some way. it's too much of a house hold name to ever fade out now.
Adsense is TRASH :)
Good analogy. It could be the secret sauce, the killer app, and the new ICO.
Thanks. it needs the tools to make it a no brainer for site and app owners. Tools are the key IMHO.
I cannot wait to trade a few SMT´s for STEEM on the Market Page. :)
God damnit I hated this idea when you first said you were doing it (in the sense that steemit will stop getting the attention it deserves). However now I want my own Bitcoin Millionaire tokens across my sites! haha
i guess it is a great time for me to join steemit.
Do you have people lined up ready to implement this on their websites?
Love the enthusiasm! We've got a lot more in the works, but we're not announcing anything else right now. We'd like to give people time to process the whitepaper and give their feedback. Right now we're 100% focused on implementing SMTs so that they augment Steem and make it the best blockchain in the world for developers.
Community Liaison, Steemit
That is so brilliant
Is there a channel or a forum dedidecated to discussing SMT white paper? I think we would all benefit if there a topic oriented space for SMT talk.
Right now, GitHub issues is best. I may open up a channel though. Youve raised a great point. I have several more explainer videos coming out and we'll do many more videos based on community's SMT questions too.
This is really exciting!
Yes it is dan
I am seing Steem like a Toyota a huge company with many branches. this is going crazy
Thanks for your wisdom. As for me I start to fall in love with steemit family. You give us hope to survive. Thank you.
As disable person, we have not easy to get stable job. Always come and go. Steemit give us good platform for our future.
Ned Reminds me of Mark Zuckerberg.
This seems really cool!
That is a really really smart move @ned. SMT will make Steem incredible valuable while also filling a demand.
Finally I find a comment about how this will increase the volume of Steem! That's for sure!
You are so right !!!
@ned
Two videos, a white paper full of acronyms that I will never understand and room full of people screaming this is the next big thing and I still don't know the purpose of SMT.
Seriously will these things help me to get an erection during non-full-moon-nights or am I barking up the wrong tree?
If smart people is saying this is the next big thing. I will double, triple check until I understand!!
Great for the future of steem... Thank you for giving YouTube and Facebook a run for their money...
Thank you @ned for developing steemit all over the world, hopefully your kindness with your friends can be worth the reply.
i @syehlah from indonesia really need your help.
good success for you @ned your day happy day.
As a content creator with a decent sized following now, I'm interested to see how this may or may not become a viable option like starting a Patreon, or something of that sort.
Looking forward to seeing how this project progresses and if it might be able to gain significant adoption.
Yes, absolutely. First off, someone could create a patreon competitor powered by its own SMT. That would be easy. But, possibly even better, you will also be able to launch your very own Steem-like token (e.g. Cryptobobby Coin) that would automatically be distributed to only your followers, and in direct proportion to the amount of value those followers add to your community! You would also be able to allocate a bunch of tokens to yourself at launch, or receive a percentage of the token inflation in perpetuity. And of course, they would be transferable in 3 seconds without a fee, instantly making Cryptobobby Coins faster and cheaper than bitcoin, bitcoin cash, ethereum, ethereum classic, waves ... basically every other cryptocurrency in existence.
Community Liaison, Steemit
So basically this is not for the average joe to take on by himself. It's going to require a team effort and a sizable investment in STEEM to really implement an SMT properly, correct? Most people won't want to create a token just for the fun of it (or maybe so), but to achieve any degree of real success with an SMT will require a lot of technical know-how and marketing chops.
And there is still the hurdle of educating the masses about STEEM itself. It's great news but it will be a great challenge to convince anyone outside of the Steemit community how or why they would want to tie their business to STEEM through an SMT, and how to make it a success.
I do think this is going to be a game-changer, but several years from now. In the meantime, it will be an excellent opportunity for those of us who understand the potential to prepare ourselves for developer, consulting and marketing roles, among others. Those who prepare now will reap some big rewards later, I have no doubt.
I agree in principle, but I think the emphasis should be, for anyone, on improving your own contribution to the theoretical meritocracy that will emerge. I don't see that it matters if you are not a coder, consultant or marketer. As a musician and writer I find this interesting because of the prospect of teaming up with those who can implement this - as Ned says, the prospect of being able to align everyone's efforts is just mind-blowing. Forgive me for contradicting you, but I am not sure there will be much of a challenge to convince people of its efficacy. In my limited experience, people are ready for a sea-change in the way business is conducted - as if everyone senses that the current model is so antiquated that is can only serve those it was built to serve and leaves everyone else fighting over the scraps. This is a way to change that from the ground up and I think there is going to be a mad rush to adopt it and that will push forward the repercussions in ways we cannot now envisage.
I don't believe there will be any mad rush except perhaps by some of those who are already crypto enthusiasts (and of course those of us who are already involved with STEEM). The cryptoverse will embrace it to some degree, and the price of Steem is looking really good from this point forward, but I don't think businesses and other entities (bloggers, forum owners, organizations, etc.) are going to be clamoring for an SMT anytime soon. Later, maybe. Hopefully. The way we view these new advancements is much different than how the non-crypto crowd views them. But with more and more proof of the benefits becoming public, over time I think SMTs will attract wider adoption.
I am sure you are right my friend. Personally, I feel like I have been waiting a long, long time to get to this point, so it all seems like it's happening really fast now and has great momentum. Naturally I can only comment on my own perspective, and I think we just mean slightly different things by phrases like 'mad rush', 'anytime soon' and 'over time'. All the best to you! :-)
I am a blogspot blogger.. I am so eager to implement it :)
My goodness. I had gradually gathered that this was essentially the future for the blockchain and Steem, but to be 'present' as one of the intial protocols for such a thing is announced is jolly exciting. I had to comment just to take part somehow! I wish I had more to offer this dicussion than Bravo! but I haven't. Except perhaps, "Ladies and gentlemen the future is officially now." That'll have to do until I finish reading the whitepaper. :-)
Your excitement is contagious. Even though I don't fully understand SMTs, I reckon, as someone mentioned, that "when smart people say something is the next big thing, one needs to research it seriously so one doesn't miss out". I'm with y'all on this. Boooooooom!!! Let's go!!!
Boooooom! Let's issue Boom Tokens! I gotta million Mega-Booms in my wallet baby yeah! :-)
@fulcanelli I am sitting right here next to you with the popcorn this is history in the making and we have front row seats.
Youre always came with a superb ideas!
Your absolutly deserve to upvotes @ned so i've put you in my Autovote on 100% Vote.
I'll appriciate if you could spend few minutes and upvote for me to :)
It will be very kind of you.
Keep doing a great work on steemit !
if we beat the competition, this thing will change the world!
Aim for the sky, baby!
I dunno if there are any real competitors.
I think that's quite a catch-22 actually.. Although there are no real competitors, his goal is to have these SMT's support the rest of the internet. So for the SMT concept, there might not be competition, but what about for this platform? Won't this give any other platform the power and leverage to potentially do better than Steemit?
Just my thoughts..
Well, not really I don't think. They've definitely got the "first mover advantage," but I guess you're right in a way since the chain's code is MIT open-sourced.
As for the platform itself, yeah for sure someone could come and try to do this better, but that wouldn't really be threatening to any of us since the base token would still be Steem unless they forked and launched a different chain.
But yeah, the whole idea I feel like is to unleash open source tech into the world for the greater good, putting the the ability to improve the codebase in the hands of anyone with the will to take a stab at it. Pretty awesome!
I agree. I do think it's pretty awesome with this whole concept, and especially for the fact that our platform's founder is the cause of all the 'world-class' innovations, that's already a great title to hold.
My only concern (Pondering in my head everyday lately) is that my time here could possibly be going to waste. I am threatened by the thought of something outdoing Steemit, and everything here 'falling to shit'.
If that happens, all our followers, SP, reputation, etc. goes for nothing. I have heard (from little birdies) that the problem with Steemit is that it is limited from mass-adoption because of the cost per user. Apparently that is why there is the initial approval phase, as it costs something like 50 cents to host each user to the blockchain. If that is true, then how does the longevity of the platform look like?
Regardless of all the technical stuff, I have put my faith in this community. I know for an undoubtful fact that this is one of the best communities out there. It holds a unique presence, and for that, I don't care about any obstacle we may face, because I have faith in the dev team that they can overcome anything.
Just a piece of my mind :) How you doing by the way?
Ahh, I don't think that we have anything to worry about, personally! Steemit Inc. has quite a lot of funding tot sustain itself and a lot of incentive to do so. If you haven't read this, do it! https://steemit.com/steemit/@steemitblog/proposing-hardfork-0-20-0-velocity
I'm doing good, though. Just getting back in the groove of things, been sick the past bit and just got back from the Nexus Conference in Aspen, CO. Getting some cool stuff together that we'll potentially be announcing soon for @agoric.systems :-). How about yourself?
Thank you for the confidence boost. It's really nice to hear that. It can be tough having these thoughts in the back of my head, and being able to do my best here. So do you think we can reach 1 million.. 10 million.. 100 million.. 1 billion users?
Reason I am asking is I have been very alert with the social media platforms around the internet for the past year. I got a little depressed a few times knowing that I had missed so many gold-rushes. I always wish I could started YouTube and taken it very seriously back in 2009, because those people all have millions of subscribers.
My thing is, I need to know if Steemit can reach those numbers. I need that to tell that voice in my head to shut up :D But I also don't want to lie to myself.
Does what I am saying make sense to you? :) Sorry for the rant haha
I am doing absolutely fantastic thanks. If I get a good reply from this, I will feel even better.
Oh, and.. PS. I took your opinion into consideration. I had faith in my post-parts, so I stuck things through, but I also understand your point of it looking like it was lazy. So I give each part now it's own attention, and I make them a lot more in-depth.
One thing is for sure...I am not selling my Steem.
Guys watch out for Mark Zuckerbergs imminent shopping spree. Steemit is cheap compared to WhatsApp :D
Except who is selling? :)
Price will likely go up 10x before he could buy much of Steem that is on the market.
I could see a lot of people cashing out at the $5 mark. This is still speculative and new, so if an early adopter sees an opportunity to pay off their house, and avoid the risk of all this crashing down around their ears...
I think that'd be a big factor.
I bought a chunk of those silver steem coins, with crypto earnings because I initially invested $1000 in bitcoin.
Now, even if crypto was to be completely destroyed, I'd still be up on my initial investment.
There will be a lot of buyers and sellers if price goes up to $5.
Some will sell, many new investors will come seeing how Steem is growing in price and adoption.
Steems is cheap comparing to Etherium, for example and unlike Etherium, Steem does have high daily usage (currently about 900,000 transactions per day).
Steem can go 100x in the next 1-2 years.
Damn. Good point.
It's a freaking great idea!
Very interesting!
Looks like a great good news.. Thanks
“Make everybody else successful too!” Man as more as I read the more I learn about this potential. Great times ahead for the whole internet!
You said it this will lift all together.
Very interesting! Knowledge is power and you keep empowering all.
This is what we all have been dreaming about. A really game changer with real usage for people that are not deeply commited with the blockchain. This has the potential of bringing LOTS new users into Steemit and into the blockchain technology. By far the best news I´ve heard since I joined Steemit over 3 months ago. Now we are talking...
Guys... its time to enjoy the show now. Sit back relax and enjoy!
SMTs will be huge and it will for sure change the internet as we know today. You've opened up a vertical path to progress in technology. It is massive for media platforms and content creators will see their brains being rewarded really well. Thank you, Ned and Steemit!
Ned Announces Smart Media Tokens (SMTs) and Steemit is Loving It!
I dont get it-- so is SMT a completely new token?
Read this example- it might help
https://steemit.com/smt/@donkeypong/the-day-the-paywalls-died-how-steem-s-smart-media-token-saved-my-family-s-newspaper
I love the fact that you are focusing on making everybody successful, not just holding all the power and knowledge for yourselves. Absolutely love the steemit ethos of creating value and you have just made me love steem even more! This will truly give smaller people and groups the potential to become big without being quashed by the huge 1% players. It truly is a revolution! :D
I'm so freaking excited to be already on board with Steemit! I believe this will absolutely spread like wild fire across the internet... it's a NEW REVOLUTION! Now to buy more STEEM!
Why not construct a new operating system from the ground with monetization as its core?
I now understand a little better why this is awesome so thanks for sharing ned. My thoughts is how will this be better than reddcoin or some of the other social coins?
I guess because it won't be a company trying to convince other companies to use their coin, but a company building the foundation for other companies to grow? thoughts?
An SMT will be traded through STEEM, so we won't have a bunch of SMTs and STEEM just one of them. We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.
Also, the SMT generation mechanism is way more complex than just a token issuance on the Ethereum platform. When you launch an SMT, you literally launch a thin layer of Steem-application-processes on top of your content, including your own rewards pool, your own inflation model, your own voting and curation algorithms and your own vesting mechanism.
Hope this helps.
It might be a great step.....every coin has two faces .....due to this thing....crypto market inflation is a sure thing.......we increase the no....but value remains same
Thanks for all what you're doing. We are watching the future right now! :D
@ned do you mind if I share this article to my blog off-site? I would run the first paragraph and link back to your article on STEEMIT and your profile. Let me know.
Great pep talk coach! Internet wide revolution? Count me in! Now can you point me at the wall to run through?
@ned can this be used to enable the creation of a world-community-owned media network capable of going toe-to-toe with CNN or Fox?
PROBLEM TO BE SOLVED:
GOALS:
enable the citizenry to come together, from all over the world, to contribute content and efforts that create a media network that can rival CNN and FOX.
use this network to spread good news (instead of fear) and real, relevant content (docos, shows, etc) that uplifts, enables, educates people instead of the "bread and circus" bullshit the sheeple are fed with as a distraction to real issues like environment, new energy innovations, new social structures, etc
CHALLENGES & SOLUTIONS:
high-end video content > people watch more than they read. To produce a documentary or show at worldclass levels (beyond a simple talking head webcam video) requires resources and collaboration amongst several people. These people need to cover their costs and get something small back beyond costs. How can SMTs be designed to facilitate that?
distribution > CNN and FOX have huge budgets to reach the masses. How can SMTs be used to help with that, keeping in mind that the more eyeballs such a network gets, the more advertisers will, out of self interest, actually pay the network money to place ads on - I mean, if millions of people start watching a good news network instead of CNN, advertisers will follow, whether they like it or not.
PARTICIPANTS/ENTITY:
In short, besides empowering bloggers etc, how can SMTs REALLY change the game, and bring BIG MEDIA power back to the people? Not small media, but big media, the one that the masses get to watch? Or at least enable people to have a fair go at creating such a challenge?
How can SMTs be designed to support such a vision?
SMT can support a million visions, yours included :)
And why the payout has been declined? Is there any rule violated on this blog?
Post author decided to decline payment. It is up to author to decide if he wants to be paid.
thanks for the information. what your news is useful for us all ..
@ned we need a resteem tab separate from blog in steemit even before SMT
That's wonderful, am new here and am enjoying everything.
i only have one question for this post, why are you @ned always stealing income in steemit?
why do not you need the money?
but a lot of steemit members need rewards from their posts but they do not get as many of you as I am one of them.
No one stealing anything from you. You get rewarded if steemians like you posts.
This is something my friend. It is magnificent
"An internet wide revolution!"
This is incredible!
yeah that's true