How to Launch a Steem Power Backed Smart Media Token!
- What if every time we upvoted on Steem, we got an upvote back for the same amount regardless of whether we posted 10 times a day or once a month? With Steem Power (SP) backed Smart Media Token (SMT) communities abbreviated SPSMT, we are now able to multiply our voting power 10x every day where 1,000 SP/SMT = 10,000 SP upvote every day or one 70,000 SP upvote a week or one 280,000 SP upvote a month! New to SMT? Take a look at https://smt.steem.io/. As members of larger collective voting communities, we now can leverage our full voting power which provides motivation for authors to focus on quality instead of quantity and to become investors in Steem and SMT instead of bidders on bots.
- When we release a Smart Media Token or SMT, how do we back it with a proven asset to help it launch and increase value over time? We give our new SMT immediate value by powering up a percentage of the Steem received during the Initial Coin Offering (ICO) and using that SP to upvote posts based on the percentage of the SMT held. Note that regulations in the USA are heavy for an ICO which is why I have chosen not to release my own SMT following this system after initially thinking I was.
- How much will the value of Steem rise as new SMT ICOs power up a percentage of Steem received to give the token immediate value to members? Over the next year, imagine how much Steem will flow into SPSMT and get powered up instead of going straight back onto exchanges. Even a small percentage of total will make a huge difference in the supply and demand ratio providing the perfect opportunity for an epic price pump.
- Why will bids to voting bots drop and start flowing instead into powered up collective voting accounts giving all members flexibility and simplicity in earning and helping each other?
Unbeatable Returns for Authors and Investors!
1,000 Steem worth of a SPSMT or 1,000 SP delegated to a community account following the protocol explained here now can return an upvote effectively worth 10,000 Steem power every day or 70,000 Steem power a week or 280,000 Steem power a month to everyone contributing depending on the settings chosen by the SMT creator and how much is given by each member! The actual amount given back depends on what each SPSMT community chooses to provide with the best giving 100% back and only keeping the curation rewards for the development team!
Rewarding and Promoting Quality Posts!
Our goal with this system is to make is easy for anyone joining Steem to get rewarded for buying Steem and creating quality content! We hope this will greatly increase the quality of posts we find on https://steemit.com, https://busy.org, etc. The easier we make it for each of us to simply show up, contribute, and take home our share of rewards, the higher our user retention will be and the more new users we will continue to get. Up until now, getting started and growing on Steem has been extremely challenging.
For those that do make it into having enough followers and upvotes to make Steem a priority, giving back becomes more challenging than getting started. With lots of SP, followers, and/or upvotes on each post, how does one even attempt to give back without feeling like it was not good enough because the day was not long enough to read every quality post and calculate the ideal upvote?
Increasing Active Users on Steem!
User retention is currently low on Steem because most of us join Steem with a lot of excitement, post a few times, and then get almost nothing in earnings, followers, or comments leaving us disappointed. Meanwhile, a few of us join and immediately get more than we can handle only to steadily watch the initial euphoria turn into apathy as those happy to see us arrive go onto welcoming others or stop voting us as soon as one of our posts is disagreeable. A few of us buy Steem and try to get ahead faster with powering up, voting bots, and/or joining communities only to end up struggling to even earn enough to justify not powering down and selling. After all that, many of us making it that far then run into heavy downvotes and decide all this was not worth it to begin with.
Unified Curation and Publishing!
Everything we do getting started and grow on Steem tends to leave most of us feeling like we are not earning enough while unsure of how to best help others. While we have many outstanding curation projects, which of these make it simple for everyone to participate with flexibility in the level of investment without having a low maximum earning potential, difficult membership requirements, and/or a long list of rules?
Is it possible for us to build a system that allows any of us to maximize how much we give to others and how much we get back on our own posts without requiring a lot of what it currently takes to succeed from the list below?
How to Earn on Steem Individually?
- Read thousands of posts and get to know hundreds of authors.
- Write hundreds of posts and comments where we awkwardly try to build new relationships mostly unsuccessfully.
- Join a laundry list full of discord servers we end up mostly not reading or getting banned from when we participate too much.
- Buy votes on voting bots or exchange votes with other users.
- Beg for upvotes from whales.
- Make 10 posts a day and vote ourselves.
- Follow a bunch of rules or meet high membership requirements to join a few of the autovote curation communities.
- Delegate to bid bots to get automatic payouts every day while losing our most valuable asset in our voting power and ability to upvote others.
Stronger Together with Systematic Collaboration!
Imagine using Steem while knowing that when we voted ten people every day, we would always get that vote back with the same power from all ten people! Picture the flexibility to post just once a week or even once a month while upvoting hundreds of people and then having all those people vote our post back. Think of doing all this automatically with just a one time delegation or SPSMT purchase indefinitely. For those of us that love to see the numbers, watch this!
Earning on Steem Simplified!
1,000 Steem power = 10,000 Equivalent Steem Power in votes a day = 70,000 SP a week = ~280,000 SP a month.
This means that having 1,000 Steem power when all votes are made is equal to 1 vote a day from 10,000 Steem power, 1 vote a week from 70,000 Steem power, or one vote a month from ~280,000 Steem power. When we pool our voting power, we then have the flexibility to essentially drop our entire voting power everyone's posts all day every day and then get that much back on our posts based on the frequency we use the collective voting power.
To summarize in a weekly voting example, when 70 of us with 1,000 Steem power come together in one collective voting pool, we can each get one vote a week on a post from 70,000 Steem power indefinitely! This post shares a system for making this a reality starting today!
Incentives for SMT ICOs to Power Up Steem?
Initial Coin Offerings or ICOs generally are a total leap of faith requiring everyone wanting to get the new token to give away cryptocurrency with proven value in exchange for something that might someday be valuable. On Steem we will soon have the ability to launch our own cryptocurrency on Steem via SMTs which leaves us with the same challenge every new cryptocurrency has upon launching in trying to establish value. Fortunately, Steem gives us the unique ability to earn rewards by powering up our Steem and making votes on posts which then gives us a percentage of the new Steem/SBD created based on how much Steem we powered up. This makes holding Steem power valuable for the potential earnings and ability to effectively promote posts with an upvote.
Imagine a new SMT that powers up most of the Steem received from the initial sale into a community account to upvote posts of all those holding the SMT! The SMT now is backed by a proven asset and has a guaranteed method to give back to everyone holding the token via upvotes on Steem. When a SMT powers up a percentage of Steem received from the ICO, we have a cryptocurrency with value we can see just by checking the wallet's voting power! Everyone holding now has a big incentive to earn more when the amount of voting power available is tied to the amount of the SMT held which is likely to create a strong buying demand.
Combining SMT with Delegation!
Our limitation with this system so far is the ability to get started. Who wants to be the first buyer on a new SMT with no voting power? How do we get the initial Steem power to have a vote big enough that will enable this system to run? The answer is delegation!
When we combine the ability to delegate Steem power and get a return with the release of a SMT, we open participation to everyone with SP that might be interested in the voting benefits but might not want to power down to buy the token. To attract delegations, we offer the same voting benefits that those buying the SMT get without the need to actually give us any Steem! For investors seeking to earn passive income by delegating instead of getting upvotes, we offer to give interest based on the Steem power delegated paid in the SMT!
Buy or Delegate?
- Buy the token for the highest investment, return, and community participation. Ideal for most enthusiastic and committed community members, new authors, replacing bids to voting bots, and buying new Steem. I am not creating a SMT because of the regulations in the USA I would be subject to for creating it.
- Delegate to gain the voting benefits and/or receive a portion relative to the delegation in interest INDEFINITELY! Ideal for already powered up Steem, established authors hoping to increase earnings without buying any more Steem, and passive income for investors.
Immediate Rewards!
- Buying some SPSMT may immediately provide access to the voting benefits allowing for a full month worth of upvotes upfront if desired!
- Delegations will need to build credit towards the desired frequency and be limited by the voting power contributed instead of the total voting power available because of the ability to remove the delegation
- Instead of using voting bots, additional purchases consistently can continually increase the voting power over time and be used to vote less frequently.
Scale with Automation!
Ideally running this system is done in communities where everything happens immediately based on user input using calculations based on the token and/or delegations combined with the voting power of the community account. While any of us launching prior to SMT release will need to do at least some of the voting manually, with the release of SMT ideally the concept will be done with automation.
How to Buy and Accept Delegations!
- SMT purchase and holding account: For security and accounting, we recommend using at least two separate accounts to handle all of the purchases and delegations. Using one account only for SMT buys and powering up the SP is ideal to maintain a community account starting from zero absent of any personal funds. This account then does not need to use any applications making it most secure for keeping the private keys exclusively for transferring funds for the SMT buy.
- Community voting account(s): For upvoting, another account or several accounts might receive the delegations from the SMT purchase account allowing for all the earnings from the collective contributions to be powered down separately and used for the development team. The community voting accounts would often need to use apps to vote and might need multiple users to manage the total voting power especially in larger communities. Multiple accounts can be created with delegations split for best security or one central account can handle everything while sharing the posting key or being managed just by one person for branding.
- When SMT are available, another account outside of the buy/sell and voting accounts might create the SMT for highest security or it might need to be a voting account depending on how the bandwidth is handled.
Community Rules!
While the basic idea of powering up Steem received for a SMT will likely be the same for many communities, each SMT creator maintains the ability to choose how the SMT will function from interest to percentages of author rewards, powering down, downvoting, and any other settings we are able to choose on a SMT. In addition to settings in the SMT, every community can choose which users on Steem can participate.
Launch + Build!
Each SPSMT community is likely to want its own place for members to connect directly on the blockchain on a user interface outside of steemit.com. While using discord is easy, would not we all benefit the most from getting all of the chat there on the blockchain and indexable by search engines to help our conversations be found by others?
SPSMT Successes = Convincing SMT Case Studies!
For any outside company and community interested in adopting a SMT to fundraise and leap forward to a business model that rewards the participants more effectively than display ads, our SPSMT are positioned perfectly to highlight the opportunities available on Steem. Just one SPSMT community building up millions of dollars in value and launching its own successful user interface for the Steem blockchain makes an outstanding case study for every content company patiently watching what happens on Steem and deciding whether to give it a try.
As an example, maybe Bloomberg is keeping an eye on Steem after the interview with @ned. In seeing several successful SPSMT launches, the executives at Bloomberg are convinced that if a few entrepreneurs on Steem can build new tokens worth millions of dollars from scratch, Bloomberg can certainly launch one worth hundreds of millions of dollars. With Bloomberg seeing the success of the SPSMT, the Bloomberg SMT is launched with a SP backing maybe at 20%. When the new Bloomberg Coin brings in $100 million from the ICO and powers up $20 million of it, we can take a guess to what that will mean to the value of Steem.
Stronger Together!
Our purpose in founding this community is to be stronger together! Ultimately Steem brings us and the world value when it helps us connect and be available for our family, friends, and communities. Together we find it easy to experience that value every day. Together we are making sure every single person on this earth has a place to share and get back the value created with that voice to the point of not needing to work any undesirable jobs just to make money!
Thank you for reading this post today and we hope you enjoyed it!
Love,
Jerry Banfield wearing a shirt gifted by @kenmelendez
What in the actual fuck is this load of bullshit? Have you not schemed and scammed enough from users? Now you want their actual STEEM in addition to delegation? Why? For witness voting?
You are a fucking piece of shit and it's a complete embarrassment that this post is currently sitting at over $1000 instead of being downvoted to $0 for providing nothing at all of value, except as a place for some of us to once again tell you that you're a waste of perfectly good oxygen.
The fact that you can continuously post this absolute dog shit and earn thousands of dollars per week is a testament to how worthless our whales and witnesses have become on this platform.
The fact that you can be anywhere near the top-20 as a witness is a testament to how worthless our whales and witnesses have become on this platform.
The fact that you're able to get any delegation or grants of STEEM/SBDs for the absolute bullshit that you try to sell here is a testament to how stupid and worthless much of the user base is.
What a fucking joke this place is...to have your stupid face at the top of the trending page selling yet another scam disguised as "helping the community."
Idiots. All of you. Every single person who gives him even 0.001 STEEM or SBD. Every single person who leaves a comment that doesn't tell Jerry to go fuck himself. Every single person who doesn't downvote these posts of his.
Go ahead and keep telling yourself that STEEM will moon any day now, while you're completely oblivious to the fact that the rest of the crypto world thinks you're a bunch of fucking morons.
Well, sorry, but not sorry... they're right.
[EDIT] - Upvoted for mother fuckin' visibility because you dickless wonders around here need to read it. And because the ass-kissers shouldn't be the ones at the top of any thread.
The ultimate in Legendary Steemmonsters.
lol
Hahah 😂😂
Before you read, I'm giving away $80 here:
I'm attempting to create a protocol through which I both gain followers as well as help out followers who care enough to pay attention and read / watch / listen to my content. The whole process is going to be completely open and transparent. I want to earn money doing what I love. But I also want to make it so that it is easy for other people to do what they love so long as their content is at least pretty good.
This is my first video in a long series of videos where I will detail out my plan as well as give away a bunch of cash for people that are paying attention. If you are frustrated by what appears to be essentially a collective self voting bot where you don't really benefit, please check out my idea. If you think it's garbage, REPLY IN MY FEEDBACK VIDEO WITH YOUR CRITICAL FEEDBACK, we'll have everyone rank the ideas, and I'll respond and fix the idea to address the feedback.
One of the key problems with content nowadays is the 1-directionality. It just doesn't work. We almost are coming to a place of collective discussion, but with scams like JBC, that's never going to happen.
I apologize in advance for spamming this, but I'm so sick of huge content creators alleging to help the little guys while the platform still suffers. I don't think a coin is going to help anyone.
I think we need to develop new open source protocols that we can share and build upon together. Please head over to any of my channels and listen to these ideas. I think they're good enough that I'll literally pay you to listen.
Thanks in advance,
Michael
YouTube: https://www.youtube.com/channel/UCTbU30giIszpDKP3y2DBtGg
Twitter: https://twitter.com/technoplato/
Steemit: https://steemit.com/@halfjew22/
Medium: https://medium.com/@michaellustig
Facebook: https://www.facebook.com/halfjew22
Far too much spam. Once was enough. I won't flag all of them.
Pro tip: If you want people to pay attention to you, don't be annoying. Think about life, you're on the street, there's a crowd of people. Are you going to say the same thing to each of them individually, or loud enough once so they all hear?
I'd say it once loud enough to hear.
Very much struggling with the platform when I first tried creating quality content and not spamming. Don't want to use vote bots. Don't want to have to join some rigid clan of upvoting.
Your analogy would be accurate if the curation on this platform worked, but as far as I can tell, it doesn't very well unless you have >$20,000 invested.
I'm going to begin posting content more regularly, and I'll also take responsibility for not being very persistent, but at a certain point in time, you have to realize that you've got to do what makes most sense for your time and for me - that wasn't participating in the platform because it just didn't work. Ironically, that's what @jerrybanfield is claiming he's attempting to fix...
I just had a look at your blog. It is 100% your fault you're struggling here. You produced about 20 posts, total? What were you expecting? I made about 18 cents from my first 20 posts. You earned more. That wasn't enough? How was it not working? There are youtubers out there who've been working for 5 years and haven't earned a penny.
I earned everything in my wallet, here, through posting and curating. I don't purchase votes, ever. I didn't join some sort of rigid clan. I just do my own thing, some people like it, some vote. This place works fine.
Spamming will just get you flagged. You're doing it wrong. Be social. Not anti-social. My analogy was wisdom, based on experience.
This place isn't perfect. Many people delegate away their SP and can't even vote for others. Then they write up posts, sit, wait, and can't seem to figure out why nobody is voting. Jerry won't fix a goddamn thing. He's part of the problem. He encouraged these people to delegate. They could sign up for this piece of shit plan, then sit there and wonder why they're only getting his one small vote he's offering, while nobody else is voting, because they delegated the goddamn SP to him. These folks promise these people they'll make money, but they don't. They'd make far more if they simply posted and voted for each other, slowly building up their SP, and eventually over time, like the rest of us, earning more and more, but they're just too goddamn gullible and would prefer shortcuts that don't work. Someone like me comes along to tell them the truth, and they don't listen. It's their fault, their decisions, not the platform's.
please @steemmonsters make 5 of these and give them out as ultra-rare legendaries to the winners of the first 5 tournaments.
awesome reply... why don't you lead the charge? We will be behind you (I'd be beside you if I had been here longer).... Sadly we are lacking leaders to do something about exactly this. This is a perfect example of why the people in my class almost all laugh and mock the double standard. I have tried, they have tried, and without someone like you big enough to make a difference, I'm afraid our churn rate isn't going to rise any time soon.
I try. But not enough people are willing to listen.
https://steemit.com/steem/@ats-witness/block-change-you-can-believe-in
I read it, replied to it... And will support you because you "get it". I know I am not the kind of support you need (ie small), but the good thing is even small guys get to use their lungs every so often!. Let me know if I can "rally the minnows"... we can virtually strike, sign petitions, work with other witnesses we have contact with to get some consensus... You'd be surprised at how motivated we could be if we found people that are focused on the real problems!
ps... I appreciate your point that you "try". Honestly I respect that you even do that! Thank you!
i am still waiting on information on how the smart media contracts work on the back end. I hae yet to see any code on the SMT project on github.
please direct me to where they have shown any progress on the implementation of SMT.
IVe been seeing mad "creators" claiming that they will create an SMT ON a SYSTEM that does not exist!
@jerrybanfield you are about as bad as Trevon James and his Trevon james coin.
I dont trust you or your endeavors and i dont see why anyone should.
SMT isn't even ready (and might take a while) and people are already trying to sell the bear's skin before killing it.
My thoughts exactly. Steemit has been disappointing as of lately
lol
Abso-fuckin-lutely.
Fucking preach on. Hell yes
Well said.
Looks like a whole lot of bullshit to me from someone who's only known for one opportunistic scam after another. Just off the top of my head, @jerrybanfield you had the stolen Steemfest, the $50 accounts, the crap info videos and courses (all with incorrect information pulled out of some random cat's ass), your site which charges people to message you, and now this.
I hear there's something called EOS where block producers make millions. Go check it out Jerry, it'll need 100% of your attention.
Don't forget the "peer-to-peer exchange" that he promoted at one point and tried to scam everyone for donations to create it.
I'm sure there are a lot more that I missed, since I do my best to not look at this stupid fuck and his shit content.
.
Before you read, I'm giving away $80 here:
I'm attempting to create a protocol through which I both gain followers as well as help out followers who care enough to pay attention and read / watch / listen to my content. The whole process is going to be completely open and transparent. I want to earn money doing what I love. But I also want to make it so that it is easy for other people to do what they love so long as their content is at least pretty good.
This is my first video in a long series of videos where I will detail out my plan as well as give away a bunch of cash for people that are paying attention. If you are frustrated by what appears to be essentially a collective self voting bot where you don't really benefit, please check out my idea. If you think it's garbage, REPLY IN MY FEEDBACK VIDEO WITH YOUR CRITICAL FEEDBACK, we'll have everyone rank the ideas, and I'll respond and fix the idea to address the feedback.
One of the key problems with content nowadays is the 1-directionality. It just doesn't work. We almost are coming to a place of collective discussion, but with scams like JBC, that's never going to happen.
I apologize in advance for spamming this, but I'm so sick of huge content creators alleging to help the little guys while the platform still suffers. I don't think a coin is going to help anyone.
I think we need to develop new open source protocols that we can share and build upon together. Please head over to any of my channels and listen to these ideas. I think they're good enough that I'll literally pay you to listen.
Thanks in advance,
Michael
YouTube: https://www.youtube.com/channel/UCTbU30giIszpDKP3y2DBtGg
Twitter: https://twitter.com/technoplato/
Steemit: https://steemit.com/@halfjew22/
Medium: https://medium.com/@michaellustig
Facebook: https://www.facebook.com/halfjew22
I don't understand any of this, but this guy should not be trusted on that creepy smile and the hat alone.
Damn dude, this sounds crazy! You have to be very creative and visionary to come up with all this. I give you props and wish you the best on this venture! Resteem
Brett thank you for the resteem! This idea came out of nowhere our of despair at the current state of Steem as a way to help us more effectively work together and add value here. I am grateful for the chance to share it!
Thanks @jerrybanfield! I’m am interested in giving the delegation a try. I’ve started to wrap my head around it and I think it’s pretty genius! Am I correct in reading that 1000 SP is the minimum delegation? Can I direct the daily vote to random accounts or are all votes limited to the delegating account? I’d be interested to get started next week for some content I’ll be publishing. Thanks for the feedback and the initiative!
Before you read, I'm giving away $80 here:
I'm attempting to create a protocol through which I both gain followers as well as help out followers who care enough to pay attention and read / watch / listen to my content. The whole process is going to be completely open and transparent. I want to earn money doing what I love. But I also want to make it so that it is easy for other people to do what they love so long as their content is at least pretty good.
This is my first video in a long series of videos where I will detail out my plan as well as give away a bunch of cash for people that are paying attention. If you are frustrated by what appears to be essentially a collective self voting bot where you don't really benefit, please check out my idea. If you think it's garbage, REPLY IN MY FEEDBACK VIDEO WITH YOUR CRITICAL FEEDBACK, we'll have everyone rank the ideas, and I'll respond and fix the idea to address the feedback.
One of the key problems with content nowadays is the 1-directionality. It just doesn't work. We almost are coming to a place of collective discussion, but with scams like JBC, that's never going to happen.
I apologize in advance for spamming this, but I'm so sick of huge content creators alleging to help the little guys while the platform still suffers. I don't think a coin is going to help anyone.
I think we need to develop new open source protocols that we can share and build upon together. Please head over to any of my channels and listen to these ideas. I think they're good enough that I'll literally pay you to listen.
Thanks in advance,
Michael
YouTube: https://www.youtube.com/channel/UCTbU30giIszpDKP3y2DBtGg
Twitter: https://twitter.com/technoplato/
Steemit: https://steemit.com/@halfjew22/
Medium: https://medium.com/@michaellustig
Facebook: https://www.facebook.com/halfjew22
I promised to read this post I read 10% and now my wife is calling me and the baby is crying.
questions:
Can I contribute to the community in a meaningful way by participating in this project?
Can this concept help other contributors not rely so heavily on bit bots to make profit on quality content posts?
Last but not least can this project help me to live my dream and become financially independent?
Did you get $1.62 for reading 10%? You'll be getting a really good payout when you finish it.
This is bullshit. I read 100% of your comment and I only got.05
That is nothing. I am 75% sure that I am the reason his wife was calling him to put him on 3 way speaker phone to let him hear me knock the bottom out of it and I only got paid in STD's
LOL
lol
Lol
a resounding NO is the answer to your questions
Before you read, I'm giving away $80 here:
I'm attempting to create a protocol through which I both gain followers as well as help out followers who care enough to pay attention and read / watch / listen to my content. The whole process is going to be completely open and transparent. I want to earn money doing what I love. But I also want to make it so that it is easy for other people to do what they love so long as their content is at least pretty good.
This is my first video in a long series of videos where I will detail out my plan as well as give away a bunch of cash for people that are paying attention. If you are frustrated by what appears to be essentially a collective self voting bot where you don't really benefit, please check out my idea. If you think it's garbage, REPLY IN MY FEEDBACK VIDEO WITH YOUR CRITICAL FEEDBACK, we'll have everyone rank the ideas, and I'll respond and fix the idea to address the feedback.
One of the key problems with content nowadays is the 1-directionality. It just doesn't work. We almost are coming to a place of collective discussion, but with scams like JBC, that's never going to happen.
I apologize in advance for spamming this, but I'm so sick of huge content creators alleging to help the little guys while the platform still suffers. I don't think a coin is going to help anyone.
I think we need to develop new open source protocols that we can share and build upon together. Please head over to any of my channels and listen to these ideas. I think they're good enough that I'll literally pay you to listen.
Thanks in advance,
Michael
YouTube: https://www.youtube.com/channel/UCTbU30giIszpDKP3y2DBtGg
Twitter: https://twitter.com/technoplato/
Steemit: https://steemit.com/@halfjew22/
Medium: https://medium.com/@michaellustig
Facebook: https://www.facebook.com/halfjew22
Source
Leaving comments asking for votes, follows, or other self promotional messages could be seen as spam.
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Comment Classifications
Yes to all of these! Every question you asked is along the lines of what I was thinking when I wrote this post! When you buy 50 Steem of JBC you will immediately be able to get upvotes once a month indefinitely on 14,000+ Steem power. With this just being released, the votes will actually be even bigger to begin because the voting power is high and to reward the very first to purchase!
Hello! for what i see JBC is a way to make sure you have enough upvotes to earn more, but my question is, will it really help the users to create better quality media?
cheers!
I like the idea. I am still considering to invest or not. If you can build a web like Smartsteem.com, it would be really helpful for us to make a decision.
Agreed and that is the plan!
I'm sure this has absolutely nothing to do with the fact that finding a way to load your account up with native SP instead of delegation will vastly increase the power of your witness vote.
Nor with the fact that you just fell out of the top 20.
Those clearly are completely irrelevant.
hahahahahah Poly for the yugular!
I like that you are improving Steemit, and the voting system. You spelled out correctly the people who get frustrated on Steemit, and the obstacles we face while on here. I see a flaw in this JBC or maybe I just don't understand it...
What gives this JBC any value if I send Steem to it? And I get this big upvote a week, well you aren't guaranteeing it. What if you use up all of the voting power?
There has to be a catch here. The money has to come from somewhere...Maybe I'm just not understanding it.
@jfitmisc what gives any SMT using this system value is the voting power from powering up the Steem received similar to a gold standard. Delegating instead of buying can be an effective way to give it a test while buying has the highest earning potential. The results depend on which people run the SMT and the voting power always regenerates. Naturally with abuse a token like this would become worthless. Abusing voting power on a SPSMT could ruin the value which would cost much more than the potential earnings from doing so providing for strong motivation to take good care of the Steem and delegations.
you know this will be abused how do you intend on thwarting that?
@masterroshi abuse is subjective. One person's idea of abuse is another's idea of innovation. Equality means not defining abuse.
Yes let's hope the innovation is responsible and not at the expense of other users
@masterroshi we will trust each of our members to behave responsibility and engage with those finding problems!
Thanks for the quick reply and explanation! Okay that makes sense. You have to handle the voting with integrity and caution. I probably would feel comfortable with delegating first! I think this is a really great idea to reward good quality content like you said, and we won't have to resort to using bid bots.
I'm ready for Steemit to go really mainstream! I have two real life friends join Steemit. One was extremely turned away after failure. Thanks @jerrybanfield for all you do to improve this community :)
My pleasure and I appreciate the chance to build it here together!
Hey @jerrybanfield Amazing Post
This sounds really cool, but I must confess to a bit of confusion 🙂 When is the SMT launching and how does that cutoff date affect how those of us who delegate (say 1k SP) receive upvotes? Are we given upvotes on Steemit like normal platform upvotes until the SMT launches and then given JBC upvotes afterwards? I'm unclear why I should start my delegation now and what happens later.
Another issue for clarity... if we buy we send to @jerrybanfieldroi but if we delegate we do so to @jerrybanfield, correct?
@indigoocean thank you for helping me clarify this in the post! The upvotes from the delegation are good indefinitely and I will make that clear in the post!
Thank you. One other question that just came to me as I consider whether to buy or delegate: what if I want to do a combination of the two? How does that get calculated? Let's say I buy with 50 Steem and delegate another 1000SP... and have an interest in a weekly interval done automatically... how does this get calculated? Or does it need to be one or the other?
For buying and delegating you will get to skip the delegation window! I will add that into the post also! You have the accounts right for each!
OK, now I need to re-read this thing, LOL!
I just added this in for you!
Thank you for being the very first to make a 50 Steem purchase!
I’m confused. I currently have 150 SP delegated to you. That is under the minimum so I should cancel it? Or will I still receive a benefit?
I would imagine you could put that SP to much better use rather than delegating to JB. Do some research.
With the release of this new system beating the return from delegating to me and using the votes will be challenging. While it is certainly possible, doing so likely to require a lot of time and energy to pull off which then must be figured into the return.
Yeah, probably better off taking advantage of the steem power interest rate. :)
Thank you @fow for asking this because reading what you wrote helped me see the minimum will best apply to delegation and buying at 50 Steem power. According to https://steemworld.org/@jerrybanfield you delegated months ago which gives you credit immediately for an upvote up to 42,000 Steem power on a post once a month or 14,000 Steem power three times a month after you submit the form at https://jerry.tips/jbcwelcome
Love the shirt @jerrybanfield ! Wow, this is incredible. The best thing since sliced bread. You are truly a visionary my friend. You just took Steem to a whole 'nother level.
-Ken
Ken thank you for helping inspire me to think about what I could contribute that would be most useful for you and for the shirt featured in the photo here!
One of the major reason for lower retention rate in steemit is because return on effort is relatively low for people who don’t have enough funds to invest on voting bots, thereby getting visibility is almost impossible even if the content is of high quality! Unfortunately most of the whales have shifted their account from manual to bid based voting system as that yields them more profit!
This leaves the minnow author with nothing but disappointment! So I hope this new SPSMT token help every author without giving rich people an added advantage!
I have also voted for witness for you! Hope people find this a reason to stay here and grow here together!
Regards ,
@ubfitzone
Thank you for adding me to your witness votes and I am so excited about this new system because it gives us the ability to more effectively help each other while focusing on our own investing and quality instead of trying to hustle for the very few upvotes available now.
I am shifting to Minds.com, where recognition is better and so is visibility. this platform is greatly dysfunctional and no one listens, so I'm moving.
The problem with minds.com is that their coin isn't worth anything. It's literally worthless. That's why visibility is easier, you don't even make 1 cent for your efforts so there's fewer people participating.
Being a Minds user for a few years now (although inactive), I second this observation. Not to mention the crappy interface and poorly optimized blogging feature.
Their blogging platform sucks. but what turns me off here is the condo nazis who downvote you and try to tell you what to do. This is a fatal flaw for this platform and no one will pay attention. Steem is getting better, but this flaw will still kill it in the end.
What did you get flagged for? In most cases there’s a reason although I have seen people get flagged unfairly on a couple of occasions.
I was posting large sections out of the law as part of a class I'm conducting. the idiot didn't bother to read enough to find out what is going on. Other people have been flagged unfairly by some condo nazi over a difference of opinion. I'm not going to rehearse this whole thing again. Bottom line is I moved this to my private blog and steem has lost something of great value. No one will listen here, nobody pays attention to what a minnow says. This and the downvote power will be steemit's ultimate doom, mark my words. Minds is not yet up to speed, but there are other FB killers on the horizon and eventually one of them will make it. Sadly, unless steemit changes course it will not be them. Smart media tokens are a great idea, but someone else will get there too. It's sad because this platform is finally building momentum, but this flaw is fatal, mark my words.
Before you read, I'm giving away $80 here:
I'm attempting to create a protocol through which I both gain followers as well as help out followers who care enough to pay attention and read / watch / listen to my content. The whole process is going to be completely open and transparent. I want to earn money doing what I love. But I also want to make it so that it is easy for other people to do what they love so long as their content is at least pretty good.
This is my first video in a long series of videos where I will detail out my plan as well as give away a bunch of cash for people that are paying attention. If you are frustrated by what appears to be essentially a collective self voting bot where you don't really benefit, please check out my idea. If you think it's garbage, REPLY IN MY FEEDBACK VIDEO WITH YOUR CRITICAL FEEDBACK, we'll have everyone rank the ideas, and I'll respond and fix the idea to address the feedback.
One of the key problems with content nowadays is the 1-directionality. It just doesn't work. We almost are coming to a place of collective discussion, but with scams like JBC, that's never going to happen.
I apologize in advance for spamming this, but I'm so sick of huge content creators alleging to help the little guys while the platform still suffers. I don't think a coin is going to help anyone.
I think we need to develop new open source protocols that we can share and build upon together. Please head over to any of my channels and listen to these ideas. I think they're good enough that I'll literally pay you to listen.
Thanks in advance,
Michael
YouTube: https://www.youtube.com/channel/UCTbU30giIszpDKP3y2DBtGg
Twitter: https://twitter.com/technoplato/
Steemit: https://steemit.com/@halfjew22/
Medium: https://medium.com/@michaellustig
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