RE: Do SMTs make Steem holders venture capitalists?
SMTs will be a home run for STEEM. They will push this blockchain into Top 10 status very quickly. SMTs will do for it what ERC20 did for Ethereum.
As to your point about VC, I think that applies to all cryptocurrency. This is a new funding model and anyone buying in is essentially funding that venture. There is risk as you pointed out, hence all is speculation. We choose projects based upon merit (in some instances) and hope for the best. Many will fail.
I think you logic is sound on this one. The advantage to hodling STEEM is that all will be built upon it. STEEM is required for bandwidth, something crucial for zero transaction attributes. So why many SMTs will be nothing more than experiments, meaning failure, STEEM will be uplifted by those that are the winners.
You know more about this area than me so I am glad that my mental moel is sound enough at this point. Yes, crypto is all VC but with SMTs rather, than backing individual projects and crossing fingers, Steem holders can back many simultaneously without even having to choose which. That in itself is pretty incredible.
The ore winners the better and that just doesn't go for SMTs, I hope more people will invest a little in SP and make some potential gains later. For some, instead of easing burdens, it could be life changing.