Vlog 133: The direction of the Steem blockchain.
SMT's is the direction in which the Steem blockchain is going. After Steemfest 2 that is clear to me.
It doesn't mean that Steemit.com will be left behind. I think it will still be the biggest community on the Steem blockchain for a long time but it will no longer be the only one. (once SMT's come into existence).
This is something I have accepted and I am happy with. The more communities the merrier. I think it will create many opportunities that we can't even begin to imagine.
I think everyone that has been here from the start feels deeply connected to the Steemit community. It's like a small family.
But realistically once millions join the platform it can't be like this anymore. Just like Apple Computers couldn't operate from a garage indefinitely. It has to grow up.
I could already feel it at SF2. It was a little bit more business wise than last year. And so it should.
I think the fact that anyone can create an SMT and try to create value for it in their own community is an amazing idea. Whether that is you or me or an existing business.
Luckily for us, the Steem token will be the most important token of all the SMT's for now, so being able to earn that today either through blogging, curating or lending out your current Steempower is really cool.
Or in my case, a privilege. Because it's the first time I got into something early (before the masses) that has the potential to be huge.
I talk about it more in my vlog.
Good to see that we are getting clearer about steemit, SMT.
I need to know is this why steem value is degrading?
Or is there a parallel between steem price and SMT ?
The only question I have is;
will EOS eat Steem alive? Or do you see a shared future for both platforms?
Thanks!
Steem can always scale better than EOS. STEEM can always offer synergies to smart token communities supporting sustainable business models through rewards while EOS tokens cannot. Steem can augment bandwidth calculations in synergy with smart token communities to give them value based on bandwidth consumption while EOS cannot. This all comes down to application specific blockchain architecture (Steem) versus general architecture (EOS) and economics of the base token, both vastly superior in Steem.
good to see you more in here, may it long continue! and thank you for all your answers from steemfest to my audience questions! looking forward to the next steemfest! :)
It's cool how you've replied to a comment on a post that isn't tagged with steemit or smt.
I have a question about SMTs. Apart from hosting its own web server and buying a domain, what is the cost for a website to create its own SMT? If it is free, why so?
thanks for ur presence on these threads Ned, it means a lot to us all, while helping clarify the arguments we can be putting forward about steem!
I thought EOS had a bandwidth consumption thing also.
It would be very interesting to see a more elaborate post on this subject.
I haven't been around for a few months now, busy doing other stuff like finishing my studies. i did hear about SMT's, but didn't realize how important this was; it was great having such insight on steemit from someone who is a regular on this platform, thanks!
@exyle I am very comfortable in the fact that you and I and others are already here on STEEMIT. The others will FLOOD in once they understand how much they can improve their lives from creating content and commenting.
Good post! Can you explain a little more how the price of STEEM tokens will be affected by new SMTs? Are they just another SMT for Steemit.com or do they represent a greater value of the entire STEEM blockchain? @ned mentioned some kind of exchange for new SMTs. Just trying to understand the investment thesis for holding STEEM tokens. Thanks.
From how I understood it.
An SMT (ICO) is funded with STEEM only. You can use other cryptos buy you must convert to STEEM first. This will drive demand for STEEM.
You need Steempower to run an SMT because SMT's require bandwidth to use and Steempower provides that bandwidth. So the more successful your SMT the more bandwidth/steempower you need. This will drive demand for STEEM.
More info here:
https://steemit.com/steem/@ned/explainer-value-flows-on-steem-with-smts-video
Thanks! Great explanation and info, makes sense.
You are absolutely right, my friend, the more opportunities for development, the better for all and for each of us. I am especially grateful for your words about the fact that we are all here as a family, I particularly liked it! Thank you @exyle
nice video and post my friend, well i agree with your points steem blockchain is defiantly heading towards those SMT's and i think they will be huge, with those SMT's steem surely gains more growth and more and more peoples able to know about steem and it surely helps the price of the steem, i personally thinks that SMT's are the game changer and we might not able to see 0.85$ steem again and i 100% support those SMT's, i think they won't damage the steemit.com either, they only gives more strength more power to steem blockchain and helps steem to go to the moon, thank you very much my friend for sharing your steemfest2 experience and information with us, it's really helpful to proceed, Stay blessed
You are right, @exyle. Though I did not come in early, I still feel I'm early enough. I tell my friends that a time will come that they will regret not being crazy about steemit the way I am now because this platform has the potential of making one really fulfilled. I see price of steem rising to at least $5/ steem at inception of SMTs and that's a big plus to anyone earning at least 10 SBD daily. @greatness96
I by now know there is a lot of potential. I do hope there will be a more visible timeline for all nice things that are upon us.