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RE: an open letter to @ned
How will you prevent a DAPP like "eosteem" that lives on EOS to adapt SMTs-like approach (not EOS itself BUT a DAPP on EOS)?
How will you prevent a DAPP like "eosteem" that lives on EOS to adapt SMTs-like approach (not EOS itself BUT a DAPP on EOS)?
no one is trying to prevent it in the slightest. an SMT model on a general platform will always be hamstrung by its inability to cooperate with pricing agents (witnesses) by getting parts of its contracts specially priced (like SMTs on Steem are proposed to do). just check out the intersection of Market Maker Pools and bandwidth allocations in the Whitepaper. Steps simply must be taken to make tokens first class - that’s what Steem can go out of its way to do where general purpose cannot.
@ned I certainly hope your theories work out in real life application. I see the benefits you aspire it too, I feel as though there may be an element that’s missing but that’s how things grow down the road, for me steem is to decentralized social media as bitcoin was to Blockchain. It’s the legacy that will give your system the spine it needs to have SMT’s launch fairly successfully. I pray the best for the community, but this thread really calmed my nerves about this debaucle and the SMT rumours that have been floating.