Vlog 211: STEEM is very strong in the downtrend + SMT's even got my dad interested in the STEEM Blockchain.
Yesterday I talked about my investment strategy.
I set a baseline and I'm buying crypto with fiat when it goes under that.
It appears I bought at the bottom for now, so I don't have to buy today.
I'm sticking to this plan.
STEEM is behaving super strong in this downtrend and has already gone back to $3.70.
Considering that at the end of November 2017 STEEM was around a $1 the price is fantastic.
SMT's and communities
My dad is a programmer and a huge fan of Stack Overflow. A community of programmers.
I have been explaining SMT's (Smart Media Tokens) to him for a long time but it never clicked.
Until now.
I have project Peer Query to thank for this.
With SMT's it would be possible to reward contributions to Stack Overflow in the form of a token. You could upvote and reward the best answers or even send a couple of tokens to the provider of the answer as an appreciation.
It would even be possible to set bounties for questions you want answered.
The token will have value because it's tradable on a open exchange. (And maybe the community could even find more use cases for the token we haven't even thought of, adding to the value.)
Being able to thank others for helping you out or set bounties made even my dad interested in the STEEM blockchain and the SMT's.
Now you can also turn this around. For others being able to earn tokens would be an incentive to join a community and do their best to add value.
So, what I learned from this is that the key to explaining SMT's is to find examples people can relate too.
For example: it doesn't have to be a programming site. It can be a cooking community where you can thank someone for sharing a recipe for instance.
I talk about it more in my vlog.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
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Its great explaining something with a example. Because people are able to relate to those those situation which helps them to understand better. Many school in the developed world also use this strategy to explain difficult stuff to kids.
It's all going to kick off with SMTs. I can't wait to see the first sites that decide to run with it. It will open up so much opportunity.
That's exciting about your dad, I am still trying to convince my brother to get into steemit with no luck!
My bro has his account, and just needs to 'cook up' some content now!
Hehe, the hard bit!! Nah, I am kidding. Good on him for joining!
Abh12345 i hail you
For sure! I do have a hope that it's not going to be universal. There's something about having a community that isn't influenced by the potential for rewards that I like sometimes. I think both have their place, and there are certainly a huge number that could benefit by having rewards.
MY GRANDMOTHER LITERALLY SAID AS I WALK IN"IM FINNA GET ME A STEMER" IM LIKE WTF IS THAT..SHE EXPLAINS STEEMIT TO A T!!AND I SAY "I HAVE A THING LIKE THAT ITS CALLED STEEMIT" AND SHE SAYS.."that! yes cmon lets do one!" LMAO
Good to hear that your dad changed his mind about blockchain, surprised it took so long considering he has a crypto obsessed son! I'm now going to check out Peer Query as I hadn't heard of it before
You'd think hanging around this guy much at all would make you want to invest. I certainly did!
Tokens can be purchased as you know. When there is an internal exchange for SMT's... I expect they could be traded for Steem as well. Potentially, earning SMT's might result in simultaneous Steem being awarded based on existing individual Steem holdings. I expect some internal power to exist for holders of Steem in their activity within an SMT. I'm guessing of course.
That would be nice. I think Steemit is going to be my bread and butter for a long time, so hopefully I won't be missing out too much by sticking here.
Do you have any idea when will HF20 finally go live?
Runicar...i want to learn here
What is HF20
It's a "patch" that will allow millions of new users to effortlessly join our platform.
You can read more about it here.
What benefits do we get???
Millions of new users, which will in end bring the price of steem/SBD up a lot
Since our SBD will increase
How do i join...upvote me as a new users
Begging for upvotes will get yo nowhere on Steemit so please refrain from doing so in the future
Thanks bro...just learning ..how do i join your group...i want to knw more,i want to make it
Nice to hear someone positive about Steem these days. I follow you for your future analysis. Thanks for sharing your positive thoughts about SMT.
Thank you for explaining SMT (Smart Media Tokens). I will check it! Your posts are very useful and you are very good guide for me to find out the my way in this crypto jungle. Hugs from Spain.
Thanks!
Please upvote me
Absolutely, Steem has maintained very well even in the downtrend, just imagine how much it can go in the uptrend...I am very optimistic on SMT, a real game changer for Steem Blockchain....
I wouldn't mind Steem staying low for a bit longer. It's a great time to accumulate!
We can always try...lets be optimistic as you have said
Im sure steem will be back on top 10 soon, there is so much development happening this year!
Lets be optimistic...steem will be top 3 soon
@exyle I am impressed with your Dad coming to embrace the SMT's. STEEMIT is going to be so BIG in 2018 !
Honestly boss...steemit is going great