RE: Steemit Retro: SMTs, Communities, PISFs, Canonical URLs
I am happy to see progress on SMTs. I still have some questions though about what exactly SMTs are supposed to be and how the market is supposed to take advantage of them.
I've been blogging a lot about stable tokens and security tokens. This is how I think SMTs could be beneficial to Steem because we are missing these key components. The ability for example to earn actual shares in actual companies would be huge. The ability to earn real world assets like gold, or pieces of real estate, or even digital like Bitcoin or Dai would again be huge.
The question becomes how can this be done in a way which benefits Steem as a whole, the token, the ecosystem, the reward pool, etc. I have not figured it out and I don't really know how SMTs will grow the economy of Steem. I can see clearly how SMTs will grow the community but I cannot yet see how it will grow the economy, if this distinction makes sense.
I see Steem as a potential market network. A social network is a market.
really interesting approaches! :)
who should hold the keys for some community btc?^^
More questions than answers but there are no technical barriers. It's easily feasible to let the network hold the keys in a decentralized encrypted manner. In fact if you look up the research the Enigma project has done which leverages sMPC (secure multi party computation) and TEE (trusted execution environment), then it's fairly easy to hold a wallet in that way, using a threshold signature scheme. Not saying I would go with that approach but it's just to show it's not impossible.
The easier and more efficient approach is layer 2, and hardware locks. The issue though is how would you do it in a way which would benefit or provide ROI for Steem itself. You can do a lot of stuff with SMTs but the challenge is how to do it in a way which benefits Steem the most and what could that look like?
I Already have a smart media token, its called SAND its a steem engine token that is also on EOS.Its thus, smarter than anything on steem :D Any steem engine token can be made into an EOS token for cheap now, 1000 ENg and 50 EOS
I dont see SMts being used until we have onboarding. Telos has free accounts 1 million in a pool, and more if needed. @steemit needs to just come to realization no one is going to buy a steem account, and they have to just subsidize them at least a few million, and they will have just accept that agoo percentage will gamed and maybe only half or less will end up in hands of unqiue new users.We can help that by using existing socialmedia.There is no other viable way than to require an active reddit facebook or twitter account LIKE was already triedonce on steemit,but they cant just give upon it.
We CAN find a way to onboard social media users like reddit users.its almost the year 2020 dont tell me we cant find some SPS funding or better yet DIRECT steemitinc funding to onboard reddit users
THEN MAYBE maybe SMTs will matter if we can get USERS onboarded
IF steemit inc has some secret plan toonboard users thats fine but its been a secret for 2 years. Its time we call out stemit inc for their lack of onboarding. This is the only way to show you care. I care enough to risk being hated by steemit inc employees when i tell them how to do their job. Well it is possible that Ihave spent more hours working around steem than many full time steemit employees. I may value steem more than anyone who actually works at steemit inc now that ned left and sold the company to whoever ... its a great thing, ned was afraid to sell his own coin to people...lol
but the new owners are noobs and need to be shown how this shit works, how they have to actually get their coin pumping, how to market make. Steemit inc has a golden opportunity bring ALL their old investors back and reach $8 per steem again.
Even if Steem had a billion users you don't have any particular SMT that I can think of that I would want to buy. I have no idea what SMTs will do right now.
Can they be used for pegged assets? Can they represent securities? Are they going to be used as utility tokens? I am interested in the next step. I know EOSVoice is coming soon but I don't really know what EOSVoice is for either just yet because it's not released yet.
Don't SMTs need to do something useful first? More users to do what with SMTs? I think you need the SMTs to attract the users but the SMTs right now are at best just going to be game tokens.
The issue I saw is SMTs not backed by anything and not part of some game are likely to not have value. Gamers give SMTs value in the context of a game environment sort of like crypto kitties or Steem Monsters or DrugWars and I think these SMTs will do okay. But I think community tokens don't make any sense just yet because what will the tokens buy? Steem gives away all content for free so I don't know how it would work.
Is it true Ned left the company? This wasn't announced? How did I miss this?
@Ned is still on the board, but @elipowell has taken over the day to day operations as Managing Director.
You can read more about it in this post and this post. There are also a few external articles like this one.