You are viewing a single comment's thread from:
RE: The Shit That's Bugging Me: Episode Two
Everyone wanted SMTs. How will that be any different?
They'll at least be part of the consensus protocols and not subject to a centralized entity like Steem Engine. That should cut down on some of the risk. And based on what I've heard so far, they should be cheaper to create and will likely include burning of tokens. Using Steem Engine puts Steem tokens in the hands of those people running Steem Engine.
As far as their usefulness goes...I wouldn't expect them to be any different. Worthless tokens that have no utility outside of giving upvotes are still worthless.
That part I fully understand. There is risk but at the same time, it's not some mysterious unknown entity running the Steem Engine show and I don't have any reason at this point to doubt their trustworthiness. Of course I'm also not stupid and know only a friend can stab you in the back. So of course my guard is up. The airdrops come, I stake, if I lose, I'm not out anything to begin with.
I'll watch and learn. When SMTs come around, I might have a few tricks up my sleeve. For now, I see all this as a good step, progress. Many of these tokens will fail though. It takes so much more than just a few presses of a button to run a business. I'm already seeing some folks are in over their heads, and I can also see some who are on the ball.
The timing though. As we both know, and know it well: there is a severe lack of invested consumers now. The market is too small. That needs to be addressed first, which is probably why this next hardfork comes before the SMT hardfork.
It takes more than just a few presses of a button to run a business.
I like that.