Looking forward to a successful SMT-lite launch, I am very bullish on the future of Steem and the SMT I be watching is Magic Dice Token

in #steem5 years ago


I know there is a lot of pessimism about Steem ranging from several miss roadmaps and the recent action taken by the team to remove a user on the 'Steemit' website associated with leak of information of September 9/11 terror attack files. While some may see the latter as a golden opportunity to catapult the website as a censorship-free platform, this also carried serious ramification for the website and the team that is primarily domiciled in USA. The price of the token and trend isn't comforting and many would have seen several altcoin rally 70 to 90% with Steem failing to capture any significant traction. All this frustration is understandable but the Steem as a blockchain is budding nicely, its safe to say that Steem is more than social platform, its an ecosystem of dapps and soon to be SMT. It is scalable and offers one of the few freemium service in the crypto-world.

Over the last couple of weeks I have had the opportunity to have some fun on One dapp that instantly caught my attention==> Magic Dice. It is a transparent and provably fair dice on the Steem blockchain. The interface is clean and runs smooth. As the price of Steem rises these games gets more attractive and the bets get bigger, this translates into greater demand for Steem. One of the bonus of playing Magic Dice is the Magic Dice Token, which would be one of the SMT available. Players would be able to transfer, trade and play with the Magic Dice Token. You can read up on the mechanics of the Magic Dice Token/ SMT: https://steemit.com/steemit/@magicdice/magic-dice-v1-3-the-magic-token-earn-dividends-by-playing-dice

It would be interesting to see the dynamics of this SMT at play and overall impact on the Steem token. Add more SMT of similar nature and several dapps on the Steem blockchain. There is some undervaluation given the metrics at play and what is offered on other blockchain with the lack of scaling they face.

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First what is SMT-lite? Second who is developing it? Third why should I care?

We were promised SMTs. SMT-lite isn't clear and communication isn't good on what it is.

I know the frustration but lets give them the benefit of the doubt, probably they were not focus but now that I am around software developers, things really take time and its really impossible to deliver on a date especially when you working with no financial resources....On the protocol level there were Waves code that they could have probably use with some modification but Steem code is another ball game

There is a lot of testing and deployment, sometimes the code does not work like you intend to and then they pack their bus with so much to get done that it ends up messing up with getting whats important done....

Especially if you building code on top each other, one addition means seven broken pieces and you start all over, not to mention you come out with something shitty and it really back fires, so its a difficult

The Founders are powering down and sending millions of Steem off somewhere. What do they know that you and I don't know?

https://steemit.com/steem/@dana-edwards/dan-and-ned-powering-down-millions-worth-of-steem-why

I understand your frustration there as well, in fact, Steemit INC and the account alpha among others have been the biggest bears within the Steem ecosystem... Sadly that trend would continue as they are powering down again, so I expect more selling, with all the dapps I hope in time the graph would point higher... It is one of the criticism it often receives, that we give it a sense of legitimacy while only a few benefit

This is why several exchange has put Steem wallet in maintenance, at least they still around and not delisted. It would be nice if it was traded on OKex or one of the exchanges that offer shorting, it would be easy money to short at this time, SBD is no longer trading at a high value, so there is little holding up Steem...

Lets hope it works out in time but yea, I do understand your frustration, when I saw they started powering down again, I was like here we go again but I hope they don't start dumping right away, give the token some room to recover and lets users get some funds, lots of folks are under heavy water

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