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RE: Smart Media Tokens: What I Learned in small hours of the dawn

in #steemit7 years ago

Hi lestatisticien,
Thank you for your contribution. I certainly did not expect anyone to give a serious note of my 2c. I very much think so too that they need to branch off the social media context. But that would also imply a) potentially colliding with the EOS project b) assuming risks that might not pay off c) developing protocol or the whole ecosystem needed for that. This might be just a bit to much to cover. However, betting on where the action is - ICOs is a sure thing to get some publicity and new users into the fold (at meta level they also compete with Ethereum), kinda what Elon Musk is doing with his car lineup - get the experimental roadster in (Steemit), produce something sexy S (SMT ICOs) and then go for mass market (EOS). Actually that kinda makes quite a bit of sense, because by having SMTs they have new media channels to drive more traffic into the ecosystem.
As for the trading I do wholeheartedly agree with you. As JP Morgan said - token prices will fluctuate. However, preconditions are quite favourable for price appreciation as supply is limited, but the demand is likely to be high. I was reading the other day a post on Hackernoon, basically saying that the ICO market (primarily driven by ether) is getting saturated. Well, that means that all the hopeful ones will start looking for alternatives... But yep it is all speculation and open risk in the end of the day. With regards to articles write up - I think it will get much worse then currently is. I am reading around of special services that bump up your post for a fee, meaning the small fish will be inevitably driven out by deep pockets. It is the nature of the game i guess. The best we can do is to try to build the following before the lid will be closed. And by the way your idea on making a SO like message board is golden! This realm definitely needs it.

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Thank you for your most interesting comment, dv8, and apologies for my late reply. Only today did I learn (I am a Newbie) where to go to keep track of replies. I guess I got lazy from all my forum services which arrange to have an email messages sent to you when there are replies.

I take your point that branching away from the focus on media content might make the project unmanageable complex, while at the same time bringing up some serious competition that is perhaps best avoided for now.

With regard to showcasing and properly rewarding articles with valuable green content I am seeing a lot of complaints in posts that I have covered over the last several days. Moreover I was astonished to see a person with a huge following bringing to Steemit a few days ago about five paragraphs out of an article he published in Wired and he promptly got rewarded with the STEEM equivalent of 700+ dollars, due to the huge number of up-votes. The green content in that article is practically zero! So from where I sit, that is a huge discouragement regarding brining green content to Steemit.

So I'll just probably limit myself to commenting on stuff that other people do, and occasionally contributing articles that represent community service (see mine of today at https://steemit.com/stm/@lestatisticien/synopsis-of-steemit-community-members-views-on-issues-to-address-on-the-road-toward-a-successful-roll-out-of-smts ).

Much as I have a strong distaste for the various sources of block voting to help the minnows, I don't think we have much choice but to use them!