Vlog 302: The value of STEEM on a blockchain full of SMT's. Many things will change.
I haven't been able to think about anything else than OSMT's (Oracle based SMT's) and the impact it will have.
It will change everything as we know it.
First, as an investor I was always wondering what the role of STEEM would be in a world full of SMT's.
This is what I found out:
STEEM will be the only trading pair vs all other SMT's on an internal exchange.
You need STEEMPOWER to buy bandwidth on the steem blockchain to run an SMT.
And then @robert-call pointed this out yesterday. here
from the white paper:
STEEM is votable for every post.
It means that you will still be able to earn STEEM on every application and frontend even if they use an SMT.
Wow! Did I miss that.
I've been on the Steem blockchain for nearly 2 years. Earning STEEM has been increasingly more difficult with more users joining even though my blogging efforts have increased.
This won't stop. It will only get harder and with that every STEEM more valuable.
I always believed every Steem(power) to be precious. And now, I can only see this increase in the years to come.
For content creators the impact will be most likely be even bigger.
When Frontends (lets say dlive) implement an SMT and we go to an account based system (not steempower based) than content creators that pull in the most votes will trend.
As it should be.
The best content by wisdom of the crowd will be at the top and earning the most SMT tokens (but not necessarily STEEM).
Who has the most crowd? Outsiders that will bring their followers with them would be my bet. I seen it already on dlive.
I'm pretty sure it won't be me. But I'm pretty realistic regarding these things. (Famous Polish Streamer 16k live views, Exyle 6...yes six.)
This system should satisfy many speaking ill about the same content creators trending because of Steempower or bitbots. (even though without those they will even have less chance, but at least the system will be more fair).
I think yesterday many eyes were opened regarding SMT's with the page ned dropped.
Everything is slowly becoming more clear and there is plenty food for thought.
I talk about it more in my vlog.
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Wow, that's super exciting news and clarifies a lot about how the protocol will change for the better with the launch of SMTs. Exciting times ahead!
I liked .. wonderful words from you
And excess confidence is not good for us
Thanks for sharing..
I agree SMT's will make a huge difference. And the competition here has gotten fierce! I can't wait to see the results .
Competition has sure increased and I pretty convinced SMT's will only increase this.
Pure ART in Motion @kaylinart .............Nothing Better than STEEM
you will be fine, at the moment you are one of few bigger good bloggers on steemit.
other whales like haejin will be the ones with problems.
Could you tell me where I can find the information about whitelisting and blacklisting?
Not yet. It will be in the Oracle Whitepaper.
When you say "Earning STEEM has been increasingly more difficult with more users joining even though my blogging efforts have increased," I wonder what I've been doing with my life in the past months that I've been away from Steemit. Everything seems so new,and it feels like the world has moved on leaving me behind.
I may have left a lot to chances, but I'm sure not going to let myself become a rookie again. Who knows where I can read more about SMT's? Drop a link please, let me educate myself.
There’s a white paper link in the expanding navigation, but here it is for convenience.
https://smt.steem.io/
Edit - Just looked at the link myself, they added quite a bit of explanatory marketing content! I think it used to just drop you into the paper itself!
Thank you for suppling the link for him.
Hopefully this update will bring justice to all bloggers and the SMT will be successfully implemented. I sincerely hope and pray that the updates work. Literally I live off Steemit, with the little I earn around here, I manage to survive in Venezuela. In addition to making money, I've learned too much from this crypto social network... I've even improved my writing and the way I express myself.
Let's hope everything works out perfectly after the update. Greetings @exyle!!
Thank you @exyle...I got a post for later today or tomorrow morning.
It's all very interesting stuff @exyle . I have started on @dtube thanks to watching you and now I'm beginning to understand more about smts as well because of your vids. I don't know what the future holds but I'm wondering if I should always exchange my sbd for steem and buy some eos. I feel left out of eos but also feel I dont have enough sp to really earn from steemit. I wonder what the future hold for me at my level. I feel like I need more sp lol
If you have quality and love what you are doing, you will be noticed, instead of months it will take years of hard work, but you will be able to succeed, of course, for early adopters will be very hard to watch this change happening.
I don't think people like the Polish streamer will kill us, Those big influences will bring millions with them and post´s payouts of $10K, $100K, will start to exist... And that's something I think we all want to see, because it means STEEM will be very close of $100 mark :D
What are white and black lists? I feel I should know, but do not. Is there a Santa somewhere with a naughty /nice toggle?
With SMT's it will be possible to combine it with Oracles. Oracles will verify wether a account is a real person or not for instance.
Only accounts whitelisted by Oracles will be eligible to earn SMT's. If you are blacklisted (let's say a spam account) you can't earn SMT's.