If SMT comes out more user-friendly applications will be built, there will be thousands of other applications which will focus on user's concepts. If Steem does not hold a good number of customers, then the SMT will come out, the price will be tanks, and we're all screwed. But with this activity I saw here, I think we feel quite safe for the time being.
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I don't think the price of STEEM will ever tank since it's the underlying token which would control all the bandwidth for the SMT platforms. "We'll all be screwed" isn't quite accurate. :)