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RE: SMT POCKETS - (Phase 1) TRANSPARENT, OPEN and PUBLIC DISCUSSION.
"A crowdfunding model has to be defined so that the new SMT has the required Steem Power for it to function."
Who shall fund the new SMT requirement if not the initial investors?
Are you talking about the 5 to 10 SP that the issuing account will need? I'll provide that myself, and after the tokens are issued, I'll power it back down to myself and burn the account.
The only other thing SP is needed for is to use the token, send it and trade it. But anyone who has pocket tokens now already has that SP.
Or are you talking about something else that I don't know about?
I am talking about the new SMT account that shall be dedicated to the the SMT and a such is not any one persons private ownership from the date that the SMT is released.
Because @pocket is registered here on Steemit, and there is a token by that exact name it can not be used for an SMT.
You own @pocket as you have stated.
" I'll provide that myself, and after the tokens are issued, I'll power it back down to myself and burn the account."
I think @roelandp owns @pocket.
To my knowledge, the issuing account never needs to be used again after the token is issued. Also, the name of the issuing account has nothing to do with the name of the SMT. This is very clearly stated in the whitepaper.
"Costs of SMT Operations And Bandwidth Rate Limiting
Like STEEM, SMTs can be transferred on the Steem blockchain with zero fees. Steem replaces fees with bandwidth rate limiting based on the percentage of STEEM an account has staked, which means the blockchain calculates how much STEEM an account has temporaily vested to determine how much bandwidth the account is permitted for transfers, posting, and other operations across a period of time. In a future version of Steem, possesion of an account name could permit some small degree of bandwidth to allow for even greater user experience......"
page 49 and page 50