I openly admit I an uber bullish on STEEM. Just when I thought I couldn't get any more excited about what is going on, I was blind-sided with the potential that is before us.
This is incredible. STEEM is going to be huge. There is no doubt in my mind and @steemhunt only reaffirms that.
I am adamant in my saying this will be a top 5 blockchain in a couple years. The SMT idea is going to radically change the world.
So what is it that got me so excited?
The last couple days I went over to @steemhunt's website and played around a bit. When I say a bit, I mean I did very little. I read a couple posts on there, posted maybe 3 comments, and a few upvotes. My total time engaged over a couple days was, at most, 5 minutes.
What got me so excited and showed me the potential is that I earned a few hundred Hunt tokens in that time.
Are you seeing what I am seeing?
Let me explain.
Hunt is going to have a little less than double the number of tokens than STEEM, 500M. Since it does not have the potential of STEEM, being a very specialized token, I will apply a ratio in value of 1:20. Using this metric, that would put the value of the Hunt at $.10 or a total of $50M.
Think that too high? We can cut that in half and give it a ratio of 1:40 meaning it is a $.05 token or a total value of $25M.
Either way, that would put my holdings at about $15 for a few minutes worth of commenting and upvoting.
Of course, to not get to outrageous, cut that down by 2/3 to $5. Keep in mind that many ICOs are priced at $.15 per token so using less than 2 cents is fairly conservative.
This still equates to over $1 a minute.
So what does all this mean?
While I do not know the future of @steemhunt, I do see what STEEM is going to look like. There are going to be hundreds of billions of dollars on this blockchain in tokens. The main value of all this is that the Hunt, and every other token on here, will be paired with STEEM. So, by earning a token, even if one does not believe in it, he or she can swap it into STEEM.
The situation with @steemhunt is just one example. Now let us toss @d.tube into the ring. @zappl. @dlive, @dporn. @appics. @steemmonsters. Expand that out to another 100 projects. Another 1,000.
See the potential now?
Of course, do not overlook the fact that there is probably another Steemit token going to be created so that you can actually earn a different currency for your blog posts on here.
@ned stated that his goal is to "tokenize the Internet". Did you ever sit down and seriously ponder what that means and how it will look?
Let me give you my vision of what I see for the future in that regard.
You will get up on a Monday morning. You have a few hours so you head to your favorite stock market site. After reading a couple articles, you post some comments and upvote a few things. That gets you some Market tokens. Then you see a link to a live broadcast that you click on. You earn some Live tokens just for watching. Before exiting there, you have a chance to earn another AD token for watching a 30 second video. You click ok.
Then you open up your email. There are a few emails that were automatically replied to. To read them, they are offering you a Mail token apiece. You choose to view two of them. One of them contains a video from d.tube which you watch. You hit upvote because you just love cat videos. Since you do a lot of that site, your curation on that will be a decent payout.
Oops, time to get going. You have your workout scheduled. Of course, by working out, you get paid Move tokens. This helped you to drop 10 pounds over the last few months plus earned you hundreds of dollars.
That is where the STEEM blockchain is headed. It is what I foresee as the power of Smart Media Tokens and the ability for anyone to create a token for any project. Being on STEEM enables us to access any of those "sub-systems" with our STEEM account.
We are only going to see this expand as human creativity is applied. Honestly, I do not think we can envision of the things people are going to come up with over the next year. There will be some projects that totally baffle us because of their ingenuity.
That is why blockchain is one of the powerful forces unleashed on humanity. It is tapping into the potential of the human race that was dormant for so long.
STEEM is already at the forefront of that movement. It will only grow in size.
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I am starting to see more and more people posting via Steemhunt and didnt know to much about it - sounds interesting. More and more Dapps are popping up all the time - Steem will tokenise the internet and I agree I can see it in the top 5 cryptos in the next couple of years
You really are the most cheerful and optimistic-about-STEEM person in my feed :) Everytime I feel a little “meh” about Steemit, I just need to read one of your posts :)
I still didn’t really look into Steemhunt. I’d actually prefer if I could opt out of seeing those Steemhunt posts in my feed. And I thought you earn Steem there just like here on Steemit. But if understand you correctly there’s a little more to it?
In any case, I’m looking forward to the tokenization of the future!
I agree @connecteconomy - there is lots of negativity on Steemit for some reason - lets focus on the positives because the future is pretty bright!
They set up the wallet system to start paying in Hunt. Of course, it is a non-released token so there is no spending it now. The payouts are not tied to the SMT protocol nor to STEEM at this time (obviously since it wasnt released yet). They will ultimately have a STEEM based wallet system that is tied to the decentralized exchange and paired with STEEM.
Your description of the future reminds me of a series of books I read long ago, The Blue Adept trilogy by science fiction writer, Piers Anthony. In the first book, The Blue Adept we are introduced to a world called Proton, where everything is made by robots, and the people play games to earn money.
That is where we are going, but instead of just playing games, we are paid for our attention, just like you (and and few other people) have said in other articles. The attention economy is already here because that is really what we are all trading, no matter what we do.
It's just that over time, there will be more money paid for attention and less for manual labor. In a generation or two, OK, maybe 3, most people will be trading only their attention and nothing else. I don't think there is an easy way to predict how fast it is going to come, but it will come.
Within 3 generations...definitely...that is roughly 60 years...with all we are starting to see, and the pace of innovation, I think it is going to be a radically different world in 60 yeras.
It really surprises me how Steem is still flying under the radar of so many in terms of investing...It's a great thing for those of us who are here now, even the ones who have just started on the platform recently. But the potential you speak of is very real and it seems nearly inevitable that this blockchain will be something that will change things for the better.
I noticed steem dropped to #33 spot on coinmarketcap and it blows my mind how so many are overlooking its potential for growth and the coming exponential expansion in terms of usage with SMT applications coming out in droves. It'll only be this way for a finite amount of time though....tick tock.
I also really share your enthusiasm. I am really bullish on steem, hoping to consolidate a few other coins and sell the other coins to buy more steem. Don’t know much about steemhunt, but will go check it out. I think steem has the potential to be where ether currently is, that may seem a little far fetched, but if smt’s Are done right and some of these other decentralized platforms link up with steem then steem becomes a $50-100 coin. The future is bright bud
so, why the bloody SMT launching is taking so long? I hope @ned would answer that simple question...
Patience, Grasshopper.
There could be nothing worse than to have them release it before it’s perfect.
hahahha! Thanks master ;-)...I agree, anyway I still think is a little too long this awaiting time...
Would not be worthy to update us with the SMT status? I think so...
We need leadership, not only speculation
Steem on!
I believe there is a lot of things inter-connected.
What would be the point of bringing out the SMT protocol without fixing the sign up process and having that automated? Why would you automate the sign up process if you didnt upgrade the back end to be able to handle tens of millions of people? Bringing out the SMT before the exchange is totally redesigned to handle unlimited numbers of tokens means that you would have anyone using it be in a non-liquid situation and have no outlet for the tokens that are created.
I love steemit very much.
We can expect great things from Steem soon... One of the best projects on the market.
Steemit future is bright we are here in the right place and at the right time
Do you have a link for basics about steemhunt?
The future is here and the pace at which it is evolving one needs to literally keep walking to be able to standstill and trying to grasp everything is almost impossible, all I can do is stay on board and keep my ear to the ground.
You really don't want to miss opportunity here!
EOS have just launch it's blockchain, I wonder when do SMT will go live too.
smt next year.
@steemhunt is doing something different, and the especulation behind it looks great to me.
SMT´s, as you said, just like @steemhunt, will have bring such a potential raise in the price of STEEM, that I´m wondering if we won't reach the top spot, as biggest and better cryptocurrency. I don't have any doubts that we will make it to Top 5...
Thank you for your comment @diogosantos.
I didnt want to seem overly optimistic. LOL
I do not discount your possible forecast....it could happen.
The pool will never go dry. There will always be STEEM created. The inflation rate does keep declining over a 20 year period until it reaches under 1%. From there, it is a steady issue each year.
Also, SBD do not have a limit, per se...although there is a point built in where the amount of payout in SBD is reduced (as we are seeing now) and, ultimately, where they are not produced. This all ties into the amount of SBD as a percent of the STEEM outstanding.
So... What's the reason some people say that the pool is going to get dry?
I am not sure what you are referring to exactly.
One thing that is becoming evident is that it is going to dry up for bloggers and other individuals posters. That is where the SMT will come in. With the developers and entrepreneurs starting to enter, they are the ones who are going to start amassing SP.
@steemhunt got a delegation of almost 1.5M SP. That is a lot in their hands. They are going to take a larger portion of the reward pool since all those people who delegated no longer have that VP at their disposal.