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RE: SMTs and SteemIt, Inc. - Dear Ned
Definitely. The video on the website https://smt.steem.io/ says to discuss SMTs..... and we are. But we need guidance and clarity.
I believe Appics and Onstellar are the first two SMTs on the Steem blockchain, but they appear to have their own tokens, XAP and ONST. How does this affect the Steem token?
All Smart media tokens need to hold Steem power in order to have bandwith to complete transactions. This puts incredible demand pressure on Steem.
Instead of transaction fees on Etherium, Steem transactions are free but limited to a certain amount of transactions. If appics is expecting to have a million users transacting daily, they will need to hold a lot of Steem power in order to have the necessary bandwith for all their users.
appics site is very confusing . I'm not sure they understand smt or if they are actually an smt
Rightttttttt its a huge misrepresentation. Lawyers are going to have a field day with this one.
This is the piece that requires explanation and discussion in order for many users to understand.
cool post @whatsup im resteeming!
Cardi b wants answers about taxes, whatsup wants anserws on SMTs lol
I think @pocket tokem by @timcliff will be what SMTs will look like
So, in essence, you have to put a huge amount of capital in for your website to adopt SMT?
Hmm... If the transactions are initiated by your website... if the transaction is done using for example the posting key of that user, than that user must have Steem Power.
According to the SMT white paper, both those entities will have to purchase bandwidth, which is priced in STEEM. Hence, they are going to have to lock up STEEM to make sure they have enough on hand for expansion as their followers use the network.
I do not know if that changed or not.
I doubt it changed, but the message was only understood by a few and now with no recent communication, rumors and slightly twisted versions are flying. Especially with the annoucement of the first two SMT projects.
It doesn't take a book, just a few lines from someone at SteemIt, Inc once in a while.
I HAVE SPOKEN OUT AGAIN AND AGAIN
Monthly updates ARE Necessary rather than "OBVIOUS by reading the source code" and NEEDED by USERS and... INVESTORS.
While those involved seem to feel, these things are obvious "to me" and "I'm sorta busy" really doesn't cut it..
I’m with you on updates @whatsup. I’ve been really excited about SMT’s potential. Four months or more, it does seem like it’s getting lost as a priority. That could be detrimental with EOS launch right around the corner promising the same, and more recently, a social network of its own.
Agreed. It's mind-boggling that more (any) proactive communication hasn't been released. I suppose not everyone is of the marketing/business mind, but this is vital at this point, especially when SMTs are beyond late from their projected release. Thanks for speaking your mind for the betterment of all.
I believe that’s still the case, and we can view it in action via the @appics wallet. They already powered up 160k of the Steem gathered from their ICO yesterday. I think their crowdsale activity was single handedly responsible for Steem moving against the downward slide of the market for a while yesterday, and points to the positive economics SMTs can bring to Steem, same as ERC20 adds to Ethereum.
the last time i heard appics is not on steem smt, its on eth and after eth they will create their own smt. They are competing against steem but their app is on phone.
I haven’t heard anything like that in Appics messaging. Vice went that route with launching their own chain but Appics seems to be full Steem blockchain. I also can’t see any other reason they’d be taking funds from their ICO and investing in Steem Power.
Side reply, here’s a quote from some of their press from 3 days ago .
https://www.ccn.com/democratizing-social-networks-with-blockchain-technology/