Sounds great, but I think we're going to need to wait until SMT's are active, before we can create our own non-inflationary tokens backed by gold/silver/sand
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Sounds great, but I think we're going to need to wait until SMT's are active, before we can create our own non-inflationary tokens backed by gold/silver/sand
Soon ™
Thanks and, I agree.
SMTs are going to be big and will get people thinking a bit more about what tokens or assets we can use on the platform. This might be a logical next step beyond that. From my understanding the SMT functionality will be more about alternatives for using STEEM and STEEM POWER on the platform with voting etc, but this functionality will require witnesses to provide a new price feed(s) to the outside world and be coded into the platform so that it can be "backed" by the rewards pool like SBD is.
At the risk of copying BitShares functionality (eg bitGold) I think STEEM can do it better since on BTS the assets are only backed by trader collateral instead of an entire community of value-add users via the rewards pool. The lack of trader collateral has caused a few "Black Swan" type events on the BTS platform that STEEM would be able to handle.
Is this why bts is in the crapper? Damn! I wish i had steered clear...
Possibly. BitShares is a brilliant platform but the lack of liquidity and the black swan events are a real put off for me. I would buy bitGold if I could get a fair price for it and there wasn't a risk I'd be left holding a bunch of cheap BTS instead when the market tanks.
Fear, Uncertainty & Doubt -- is coming in the air tonight, oh lawd!
😁
I vote Sand!!!