Dtube Contest - Talk SMTs To Me Baby (and win 5 SBD)
Hey Lovelies!
So Steemit, Dtube and Dlive have all been kind of a trial-by-fire, tearing-my-hair-out, why-isn't-there-a-coherent-explanation-for-this-shit crash course!! And I have loved every second of it because it really feels like we are the pioneers having to figure everything out right now, and that makes me feel a sense of excitement!
That being said, some things still confuse me. I have been reading everything I can get my hands on as far as Smart Media Tokens are concerned, and I am nary the wiser about them. I have a basic comprehension of what they are and what they do, but I fail to see how this will ultimately fix a lot of the problems that ail Steemit. @Ned seems confident that they are going to fix the problems but I just don't see it! First, they seem to significantly benefit curators alone, but don't seem to do much for creators. How does making your own coin and giving it to your followers benefit a creator? For that matter, what determines how much Steem these coins are worth? Does anyone have any answers?
As I thumb through "explanation" after "explanation" of SMT's, I find myself on clickbaity posts absent of any real explanation. People seem to be excited about SMT's. People claim they will disrupt everything and pave the way for the future of Steemit, but no one can seem to explain how and why that will happen. So that's why I am running this contest.
I am going to give 5 SBD to the top one (or two) explanations of SMT's and how they are going to benefit Steemit and its users (and more specifically its creators vs its curators.) I don't need an explanation chock full of unexplainable concepts. Please try to KISS (Keep it simple, stupid. Haha.) Pretend like you are explaining it to a child...but try to keep the condescension to a minimum (I'm not a total imbecile, just a hopeless luddite, THERE'S A DIFFERENCE DAMNIT!)
I will read over all of the responses and announce the winner(s) on Saturday morning (on wee St. Paddy's Day. Hopefully I will be sober enough to put together a video. Jk, I don't drink in the morning, most days...#noshame)
Sooo give it your best shot in the comments below! Good luck!
xx~Beth
(PS- For whatever reason, even after exporting multiple times, the end credit still said "title" rather than the name of my video today. I did my best but it just wouldn't work, so you'll just have to deal, haha!)
▶️ DTube
▶️ IPFS
Yikes! This is going to be hard... but I'm not one to back away from a challenge.
Ned feels that SMTs will help balance Steem because you could create a coin, and give it to non-whales which they could redeem for Steem... which makes me wonder if we'll all get airdropped a NedCoin or similar.
The missing piece for me, is that I haven't found anywhere that tells you what the cost of creating a SMT is... they're redeemable for Steem, so they must have an initial cost, right?
The way I understand it all is this:
New York Times invests in Steem and creates 10,000 NYT coins.
New York Times then awards NYTs to anyone that provides them with useable photos.
Anyone with NYTs can then redeem them for Steem to power up their account, buy goods and services or exchange for Fiat.
My question is..... why?
Why not pay contributors in USD or with prizes? The answer could be the instant and feeless nature of Steem, but at the current rate of adoption it seems like it would reduce contributions...
I did read that SMTs could replace business processes, like an incident ticket at a repair shop, which means the business doesn't need any software or PoS devices, but I'm not sure how they'd get around the lack of privacy aspect.
All in all, I've explained nothing.... keen to see the other comments in this post.
OK, so this article has helped me: https://steemit.com/smt/@donkeypong/the-day-the-paywalls-died-how-steem-s-smart-media-token-saved-my-family-s-newspaper
In theory it could work like this, example is a daily newspaper:
It's way cooler to read the article that plays a fictional scenario in 2019, but I tried to summarize a bit ;-) In this fictional piece the journalists all want to work at this newspaper and get super rich too :D
YES! I’m gonna read the comments in a few hours. Hope to read some good insights I can give my modest upvote to.
I'm glad you're doing this because I want to know as well. Please after you get the best explanation make a video to share with the rest of us. Thank you.
SMT's are one way to do atomic swaps between crypto's which will allow websites to get away from the outdated model of placing AD's but allow for direct compensation. Now because of my AD blocker, most of the popular sites will ban me unless I allow their sponsored garbage. SMT's make this entire paradigm obsolete by shifting the compensation onto the same basis as Steem.
You can think of the Steem blockchain as an operating system and SMT's as the API that developers use to develop apps for that OS. For example I use the FMX API for cross platform development and the Windows API to develop VCL based (windows only) applications.
I have no idea what you are talking about @bethwheatcraft but I am now intrigued enough to research and perhaps win 5 buckeroos!
haha you have until midnight tomorrow!!!
Well I am GMT +2
Friend vote me
No
Pelit lah
@khairolirol, Pemakan babi, Apakah Anda seorang kafir?
No, I am muslim and you
That’s strange, because the Muslims I’m close with have all made it very clear that needlessly insulting others is haram...
yes, insulting others forbidden.
so why with you
I’m going to جهنم anyway, but I thought I could still help you avoid it
You're mean.
Haha. What even is a friend vote?
Oh, You don't know?
I must tell the elders!
I came back, but I'm not yet impressed with the answers :') Will need to do my own research still!
The question is: Why can't I find my video over the search function?
Smart Media Token (SMT) is a native digital asset on the Steem blockchain that can be quickly launched by anyone to help monetize online content and create incentives to encourage desired user behavior. They're like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses. SMTs are going to lead the future of social networking. This would create competition across the internet and quality will prevail.
This will let other social networking sites to have their own steem-like token and extend on the steem blockchain.
The SMT will enable any entrepreneur to launch their own customizable token on the Steem blockchain and instantly gain totally new fundraising, monetization, and community-building opportunities. The growth of SMTs will lead to more transactions on the STEEM blockchain and demand for the STEEM Crypto assets. This is great news for holders of STEEM and STEEM Power🙂