Surely SMTs will allow the DApps to raise their own funding?

in #steem5 years ago (edited)

I've read a lot today about Neds video....the usual back slapping crowd of shillers are out in force mildy admitting past errors but looking forward to a glorious future.

In many of these posts they mentioned how the DApps need to stand on their own two feet and pay for their own storage and assorted costs and how Steem inc needs to focus on the blockchain and and its core strengths, but a couple of things jump out at me.

Firstly, what in gods name have Steem inc been doing these past months? A couple of weeks ago they were excitedly announcing a thing called 'Destiny', is that where their resources have recently been applied? A month before that, we had a big announcement that SMTs would be rolled out in March with a testnet available in February. So, would it not be true that SMTs would allow the DApps to have their own tokenised platforms that will allow them to independently raise capital and cover the costs associated with their own businesses and their use of the Steem blockchain? If this is the case then its beyond idiocy to switch focus away from SMTs with only 2 months to go.

Or is it, as I suspect, they don't have the technological talent on the team to deliver?

Secondly, I read so much on here about accountability and transparency, but we have had very little from Steem inc. Being a private company, they have no need to publish public accounts, but I can't see Ned having to sell his guitar collection to pay the bills as many of the people who have bought into Steem may have to if this does all go to hell.
The amount of time, effort and cold hard Fiat people have brought into this blockchain is staggering, and where is it? I obviously know where 30% has gone and is still going daily......

But what about the top 20 witnesses? Despite the current lowly and still falling price, I feel they also won't exactly be rushing to the pawn shops to raise funds on their Macbook Pros.

If were a developer who'd created a fine DApp, I'd be all out working on my migration strategy through clenched teeth right now.

Hang on, weren't we all damning @dlive not too long back?

I am so sad at the current state of affairs. So sad especially for normal decent people who invested so much here and I so want them to see a return on their time and belief in this blockchain and the benefits it could bring as much as them being able to recoup their financial investment. That needs bums on seats here and for people to carry on doing their thing, stoically and ignoring the white noise in the background.

The Steem blockchain is still a technological wonder and it is that fact alone that will keep it alive.

Final thought. Many years ago, I had a Sony C7 betamax. Everyone else I knew had Panasonic VHS and they marvelled at the much better playback quality my Sony had, but they still didn't switch. Prices of the previously more expensive Betamax machines started to fall rapidly and I bought a shed load of blank tapes at a knockdown price and patted myself on the back at the bargain I'd just got. A year later, Betamax died. Soon after, so did my C7. My shed load of blank tapes no longer seemed like a bargain.

unnamed.png

Oh, forgot to add. Which top 10 witness during an interview at the beginning of the year said "I can't see why the price of Steem wouldn't hit $50 by Christmas" ?
Answers on a postcard to Steem inc, Austin, Texas, USA .....perhaps he meant cents or he never got 'the memo'!

Sort:  

As we move forward I have 0 expectations of SteemIt, Inc.

I am no longer counting on the SMTs being delivered at all.

I'm still here! So are others.

We can not count on SteemIt Inc. That has been proven.

They are only going to handle the blockchain now, so I guess what we know what we can focus on.

Thats good. If you weren't you'd be missed. I think the positives to take are most certainly the connections we make :-)

Congratulations @nathen007! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You made more than 3500 comments. Your next target is to reach 4000 comments.

Click here to view your Board of Honor
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!

Coin Marketplace

STEEM 0.36
TRX 0.12
JST 0.039
BTC 70112.96
ETH 3549.99
USDT 1.00
SBD 4.71