SMTs Explainer: Centralized vs. Decentralized Cryptocurrency Rewards; Copyright Rev Shares [VIDEO]
Hey Steemians,
We're bringing you another video on the important nuances of Smart Media Tokens (SMTs). I've been having great conversations with entrepreneurs getting ready for this new technology and it's leading to some very important discussions.
Tune in, share and leave your feedback!
Best
N
p.s. I though it could be great to have a single channel for devs and entrepreneurs to connect and share their SMT ideas. We're here on Telegram, check it out, and let me know if you think this is the right channel (or if there's a better medium) for this: https://t.me/joinchat/GkIgPA21gpj_m-y_H8hvRQ
@ned ICO distribution mechanism will be baked into the SMT initial creation. Now, as an entrepreneur building my own website hopefully launching an SMT as soon as they come out, we would rather sharedrop on our early adopters, beta testers and other participants to avoid regulatory issues around ICOs.
Would you consider having this as another feature of initial distribution?
This function is baked into the SMT Whitepaper - “Founders Tokens” can be used to set an initial ledger. SMTs can also be birthed up to 100% by Proof of Brain
Hi! Can we please get a statement on what is happening with the steemit as of recently. I was trying to get some answers through the twitter personnel which was pretty much a waste of time. Forget the fact that the site was down several times but as of past few days basic functions such as upvoting or simply writing comments won't work. This should be a priority as this certainly is not helping the steemit growth but the exact opposite. I have been around for a while now so I do still have some patience left but if I was a newbie experience what is happening right now I would simply leave the platform. It would be great to get an official statement what is happening and most importatnly what is being done to fix the problem. As of now it just seems that nobody really cares. Thank you so much for adressing the issue. Tomas
Excellent post and comment. I can vouch for the newbie portion of your comment.
I'm here not very long. The first week or so I was on a high. I thought, wow! This is exactly what I was waiting for. I have much content I wish to put online but did not want it to be strictly controlled by the players who have a monopoly on online content.
The high wore off very quick though. Both as I explored steemit and as I investigated it's existence. Which is why I am now hesitant to upload here also. I would love to.. as I am not even interested in the financial reward but really only interested in contributing to a community that is truly about the creators and the exchange of originality. Which was what I thought steemit was. Still is, to an extent. There is much content which appears non genuine though and it appears that the rewards are highly controlled and dare I say, fabricated. So as I stand now, I feel that there are too many negatives. Maybe in the background there is movement towards fixes and new changes which will benefit the existence of steemit, but that information is not easy to obtain. That brings me to the final point, and your main point. Which is, that information is almost GUARDED by those within a certain circle. WHY? One has to pursue deep by joining (or attempting to) the inner circle. This is not good practice. I would think that an open, highly connected manner of keeping everyone informed would be how the system keeps the user-base engaged and feeling like they really are part of this community. WHY is it like this? It feels shady. Anyway... I'm just a "minnow".
You perfectly stated just what I've been thinking for the last few days!
upvote (for shits & giggles cuz my vote ain't worth jack) and following!
Maybe ALL votes. Who knows!
Questioning is not a Wrong. Not Answering isn't either.
The former is honourable. The latter however, is open to interpretation.
Unfortunately no answers... I tried to reach through many different channels but absolutely nothing.... no interest at all.... not sure what to think of it anymore since the problems prevail and not even a statement or anything.....
Whale Feeding Zone.
Nothing more.
edit: Ok I was able to feed on a little brim today.
Got a 5 bucker... mainly from my initial reply.
Faith is restoring!
Free coffee en route!
Ned is abandoning Steem for his new token which will also be centralized and manipulated.
Thank you so much for these videos! I read the Whitepaper yesterday for the first time. It sounded good, but I thought "why not just use another blockchain?" despite the somewhat benefits I could see, but this video just really exposes the potential and shows the vision. I can't wait to see all the projects and economics that come from this.
Because Steem is the only blockchain that has proven it can handle the load; and very gracefully no less! We want these projects built on Steem because it will increase the value of Steem and help change the world in positive ways.
ISnt Steem also centralized due to the number of tokens @steemit owns ?
very informative video.
very informative video.
Great job!
Friend last day my reputation 43 but today is 12 my so upset...
://steemit.com/introduce/@kaleem345/today-my-birthday-but-i-m-upset-because
@kaleem345 it appears that you are in trouble for spam and/or plagiarism. I will go to your profile and look over your activity, then leave you a comment suggesting a way to fix it. This comment here could be considered spam, for starters- it does not relate to the post, and self promotes without establishing a connection. I will do my best to offer some help, I would love to see you turn it around :)
@amyf now what I'm doing... Help me?check my last 2 post I hope is better to other post
I like this:
I hope that one wouldn't need any proof presented for the brain in question to be present :)
Anyways, great work with SMT. It will be an important mechanism and a real alternative to ERC20.
good work and nicely expresed.
I thought SMT have already come out
Down with the ghetto conspiracy trash!! Enjoy the Flag!
We now in here not good for discussion. So thank for information & explanation sir @ned , now we can get more what we need to know
Great art work! Is it your creation?
@liondani, thank you so much
Of course, you can see in that image i put my username. Hhaa lol 😄
How I missed that! lol
Honestly very powerful !
Hhhaa... Yeah, Thanks again
i just follow you my friend. Please follow back. Oke
How does 1 vote equal that amount?
I would like to know how the upvote works..
This payout system is clearly rigged.
What a JOKE!
Yea,,, its a beautiful artwork
@arie.steem -
I literally thought the Art Work was Announcing that @ned had created a Brand New Software called Arie!!! Bol I was like this guy is everywhere he's trying to be the next Mark Zuckerberg!
Funny thing is in the next few years He will be! and even Facebook will Be using his software!
Mark My Words!
Great Freaking Artwork and Design Composition Btw! I'm into the same arts!
You Did an outstanding Job Arie
Do't feel bad @liondani I was just as shocked that I didn't notice his name in the composition of his art work!! #It'sBrilliantlyTrippy!
Also, Good work To Ned!
#Blessings Steemerz!
Ha! He wants to be the next Ned Scott not that other guy :)
@gleeson.thomasr -
YOU'RE RIGHT THOUGH! LOL !!! Really He's Making his own Path AND I'm freaking Hyped up to see what's this guy up to next!
CAN'T WAIT !!!
I saw a post by @appics and its just amazing how many ideas people are thinking up using SMTs. Im here hoping that an african can bring something to the table s well, im going to try and get this across to all the afro tech wizards I know.
Steem is the future for real.
I have seen lots of great africans on steemit, from @maryfavour, @destinysaid @ehiboss @gbenga and of cause @surpassinggoogle.
I personally believe steem, and in extension SMTs are capable of causing a disruption in the ways africans are viewed, how we are associated with, how we utilize the internet and how we much content we are able to bring forth to the world(we have a buttload of indigenous tech, stories and inventions that never see the light of day)
Case study is the massive influx of Africans into steemit, if I cant speak for all Africans, I can definitely speak for Nigerians then :D
P.S I myself am a product of an african intiative, @africaunchained (@africasteem on twitter)
Yes. I have learned so much about Nigeria through steemit. I am learning about the people of nigeria mainly through the stories of @greenrun. He has some fantastic and wonderful story, they put me right there in the village. So yes I have learned, and am continuing to a lot about Africa. In America, the only thing I ever heard on the MSM was how Nigerians once again conned some stupid American, how some phone scam started in Nigeria. Some of the stories may have been true, I don't know and to be honest, I don't care. The past is the past, steemit is the future, and I see in that future a beautiful future for Nigeria. One more plug for @greenrun - everyone if you do not believe me about the power of his words go read his "Eunuch" story.
I really love your new exposure to learning about Nigeria from Nigerians. This is the only website you can have and see it raw as it happens in Nigeria. Feel free to check as many great fellows through the nigeria tag. @greenrun is a great fellow. I like that you are a staunch supporter of his proof of brain. Cheers @bashadow
Thank you all for the support, most of the time you just get lost in your own world to notice people like what you try to pass across. Steemit is a big learning process for me and I believe with SMT it'd only get better. The internet is about to be revolutionised, it already had hit a major revolution with steemit. STEEM would get a major boost once SMT is implemented and I'm pretty excited to be here to witness this awesome development. Thanks one more time for the support, I appreciate it.
When you doing a great work, people will surely recommend you. I must say @greenrun you have done awesomely well. Keep it up sir
Thanks a lot, fellow steemian.
@appics is the already existing Steepshot + vapourware SMT based on a blockchain and SteemUI that seems to have errors for more than a week already.
it's true.
I’m trying to rap my head around it all.. but you make sound so innovating, and I feel like we are onto something good
I'm starting to see SMT as a bridge between centralized and decentralized systems. Decentralized distribution really makes sense since we rely on proven mathematical algorithms and the inherently secure and transprent blockchain technology. I'm wondering if user interface tweaks can improve privacy though. for example, can't we hide the wallet with a personal password? It might be easier to hack but without the appopriate key, they would not be able to get your money. At least we have control over who sees each wallet. It can be accessed thruogh the blockchain but may reduce spam as well since novice spammers don't know easily who has a biger voting power.
I believe there is a ton of distribution mechanism possible and Steem actual implementation is just an example. I would love to create a SMT that reward user based on their followers vests and not based on vote. If we can have this kind of flexibility in a decentralized way in Steem it would be magic. I like what Byteball been doing with declarative smart contract and oracles, see this: https://bitcointalk.org/index.php?topic=1617816.0
Awesome idea
Ya!
I'm very interested to understand how the "identity oracles" and the other types of oracles @ned mentioned can work in detail. Can anyone explain this to me or provide links to some resources that I can read on the subject? Thanks in advance!
Feedback?
Steemit is BROKE.
It's be nice if it were fixed before something else was introduced.
lol
I second this.
This is what will bring STEEM market cap to 500 billion or even more in a longer turn. It is obvious and there is no doubt about that. This new paradigm of social media and content creators getting rewards for the content they create is something we have been all waiting for. With that possibility to do SMT will put STEEM as a reserve currency and it will do to the token the same thing what ICO's did to Ethereum and will result in a mass adoption.
I would like to thank you and your team @ned from the name of all worldwide photography community for making this possible as it will bring the ways to monetize the content and sharing fair rewards for all the talented artists. We have started building our photography community BeScouted on STEEM blockchain as soon as i have learned about Steem a good few month ago. The only regret being that i did not learn about this earlier, but better later than never. We are bootstrapping our project and we will definitely be building and SMT as it opens so many doors and provides so many opportunities to engineer new ways people interact with the content and get rewarded for doing so.
We are already bringing members of our community on the blockchain and this is our small contribution to the work that you are doing.
Keep up the great work and we can't wait for the update to roll out. The BeScouted Team
Yes really good commentary!
I just recently managed to really wrap my brain around steem and smt and this is pretty much the same conclusion I arrived at. I'm a photographer myself but I never tried making a living of it before, with steem/smt I see a vastly different future for my photography carer though... This is going to be a game changer for any crowdsourced platform or community.
Oh man, too bad I can barely swim :(
Yes! I love this idea!