#smt: Smart Media Tokens, Our Decentralized Exchange And Thousands Of Gateways To The Steem Blockchain Is "The Vision Within A Dream".
I did a quick underlying scan of the #smt whitepaper some weeks ago to get further foresight-insight into how @teardrops will be pulled off on #smt and in my quick-read, there are many more amazing things that are instantly easy to foresee about the steem ecosystem, if the eyes are open.
These already existing beautiful aspects of our already running steem are very obvious, if the eyes are open but can be very hard to see if we are simply just "looking".
"Vision" requires foresight to see!
"A vision within a dream" require foresight-insight to see!
Overall, "a lot of spanlessness and limitlessness" involved!
Speaking of steem/steemit, it is a "vision within a dream" and this is the most obvious thing i see, whenever i take a look at steemit, steem and the world that it hosts.
"A vision within a dream" can be seen as a new breed of "reality"; an ever-ongoing process of "reality"! It's real already but it never really looks real to onlookers because it is ever-ongoing. To foresighters however, it is as real as reality.
The whole steem endeavor has been a curriculum all along and what we do now and here on steemit is a working experiment. The real vision however, is within a dream; "ever spanless; ever limitless"!
The #smt whitepaper gives an overview of what the real vision has been! Basically, create an opensource protocol that is easiest to adopt and integrate, allowing countless gateways to the steem blockchain.
Steem is evidence of a first working Smart Media Token serving steemit and rewarding the attention of steemians. It is a working experiment!
With SMTs, you will be able to have a token/tokens representing your brand or community, integrate steem still (assuming your community of brand is outside steem) and reward your audience for being your audience. Tokens will have different value-parameters either as a currency or even as influence e.g tokens can be created that are pegged to USD, like in the case of SBD or tokens can be created with a reward pool like on steemit, that can have influence when vested or etc
Tokens are likeliest to be exchangeable for steem/SBD. So envision steem as the middle currency for thousands of digital currencies on a decentralized exchange that we already have.
Basically, imagine steem (a fast, secure and zero-fee) holding the place of BTC or ETH as paired against thousands of tokens of real value. Note: that SMTs are very likely to have real-world value as many of these tokens will be modeled after steem and backed by reputable great minds e.g @appics that aims to reward moments!
Now imagine too, multiple Smart Media Tokens modeled to have a peg and imagine how many non-steemians will seek out the Steem Decentralized Exchange to hold their gains or to simply find a token to use as a viable medium of exchange.
There are ton of things to imagine really with the advent of #SMT
One confidence i have in steem is the capability of its blockchain e.g speed and frequency of transactions etc:
The truth is by virtue of this alone, steemit really doesn't have competition, let alone the other awesome features of steem. Every decentralized app for every use-case, in any niche even if already in existence, whether on Ethereum or in the mainstream, can always want to build on steem or integrate steem, for the sake of the exclusive capability features that steem affords
A worry though, may be "scalability" as the numbers grow but in reality, when it comes to steemit/steem, when it comes to these "numbers", we are referring also to the "number of potential reputable great minds", each of whom have a measure of stake in steem, so perhaps, there isn't that much worry there.
Plus, it has been proven many times already over the course of our time here that steem can scale.
It is human to entertain fears about the future of steem but when you look closely; why entertain fears? If you let steemit pass through and you through steemit on this journey, then can't any longer fall permanently even financially because "learning is the ultimate earning".
#smt is where the true vision of the creators of steem/steemit lies according to me. Understanding this vision and its magnitude and you can foresee more fully where we are headed and.......
It is Huge
There Is The Black Dot But There Is Also The Entire Whiteboard
As much as we may entertain fears about the future of steem and its probable flaws, there are many other beautiful things about steem. In a post long ago, i mentioned that we all became bank owners. Yes, while many passionately pursue moolah, we own the banks!
If i had a resume, i am very sure that in it, you will find "bank owner".
To top things, "it is a deCentral bank to each one". You have a say on its printed money plus, you get all the other features that come with banks e.g transfers, loans, remittance, accounting, auditing, treasury, savings etc
And there is more.....
Real-Timemity
Even as a currency, steem curbs volatility better than most other un-pegged digital currencies by means of its real-timeness.
Drastic fluctuation is less probable with steem, within a transaction e.g during the exchange of steem for goods & services compared to BTC etc because of its instancey (3 seconds)
e.g if you were to pay me 5 steem (at 10 USD per steem), there is a huger likelihood, that i will get 50 USD worth of steem, within the transaction than if you were to pay me in bitcoin as bitcoin can sometimes take hours to arrive and many more things (volatility-wise) can happen in cryptocurrency market-price in hours, even in minutes.
Plus, steem has mechanisms to reduce likelihood for an instantaneous crash. Much of the steem in existence is vested (not in liquid form) and takes weeks to turn into liquid.
Then, here is one under-looked feature......... that is made obviouser on the #smt whitepaper....
"We have an in-built decentralized exchange".
Hahaha, we have always had this one!
The truth is, even the world of cryptocurrency has started to look into decentralized exchanges. There is Bitshares DEX but according to several and even to me, it has a huge learning curve.
Overall, people do want exchanges upon which they can have full ownership or control of their wallets by having possession of their keys. On @bittrex and other centralized exchanges, you do not possess keys and are basically in the mercy and integrity of these exchanges.
On steemit, we already have this feature (a decentralized exchange) and it has been a working experiment.
When i was new and even till now, i hardly go on the exchanges. As minnow, i did all my play trades internally because i did feel safe on there and there wasn't the hassle of moving funds out and moving them back etc
With #smt and thousands of tokens paired against steem on our very own decentralized exchange, will you need to go out of the steem ecosystem almost ever?
Hahaha, maybe not! With some pegged smart media tokens, perhaps, there will be straight-to-FIAT exchange etc Overall, with the masses (reputable great minds) and pegged tokens, there will be peer-to-peer transition into FIAT or no need for FIAT at all.
Plus, when many these tokens likely to be tradeable internally against steem and ICOs possible on steem, why seek out trading and investment opportunities outside steem.
Token creators will be able to set parameters like soft-cap, hard-cap, vesting properties, reward-pool-parameters etc and with token creators likeliest to be "reputable great minds in incessant mind-mining and backed by a real community", the potential for success for these tokens exists.
I wonder what parameters @teardrops will have but i am hopeful, that we will make it work. It is likely to have its own reward pool and perhaps vesting properties as it will be used across three steem-based interfaces. The model is not fully defined; neither do i know fully know all aspects of how #smt will play but one thing i know is:
@teardrops will represent an imperfect world, where every and each one is Celebrity. We will also dissolve the concept of "developing nations and developed nations etc" as in reality i don't believe that these concepts even exist. Let's see how it plays out....
Jehovah's in charge!
Your Boy Terry
Please like @teardrops on Facebook and Twitter:
I do need strength
Dedicating My Entire Steem/Steemit Journey To My Mum
If you want to support an extra witness and you support mine "steemgigs", it will be really helpful. I run a full public RPC 256 GB node as well to balance the steem ecosystem on "wss://steemd.steemgigs.org"
To vote my witness, simply visit https://steemit.com/~witnesses and type in "steemgigs" into the first search box for witnesses or simply click Here to do it on one click!
If you want me to make witness voting decisions on your behalf, simply visit https://steemit.com/~witnesses and type in "surpassinggoogle" in the second box for proxy.
Let's Go!!!
Offer a service under hashtag "steemgigs". Attempt out-of-the-boxness on hashtag (untalented).
Join the Steemgigs Community on discord: https://discord.gg/CGuPyyT
"Everyone has something to offer!" Why not?
steam has become one of the most interested cryptocurrencies in the world.
I agree with you @surpassinggoogle that someday steem will beat BTC or ETH, the current steem development has made the steemian feel satisfied with the results they get.
with the presence of #smt transaction medium provides convenience to the steemian in exchange for other cryptocurrency types.
I have a foresight that steem will truly dominate the worldwide crypto market ... this will provide new opportunities for the steemians to develop our beloved "Steemit" platform.
@surpassinggoogle.
Yes, steem is the fastest growing cryptocurrencies Is a reliable digital market , am optimistic it boom more than we think.
No doubt
hi kabayan @surpassinggoogle i just want to thankyou for everything you did like hepling your co-Filipino citizen in upvoting there blogs..it really helps a lot like what youve did to us iknow its not yet let to give thanks to you..well Godbless and thankyou very much again
you are welcome. all glory to Jehovah
I agree with @morbyjohn. I'm also a newbie here in this community and indeed @surpassinggoogle is one of the respected person here. He supported us newbies and it was a great help for us. Thanks a lot @surpassinggoogle.
sorry before because i joined in your comment both of you,
yes. I agree with what was said by @adeboy1about the steemit and the fastest crypto development in the digital market, I see it right in my hometown, but there are doubts in me because many new member complaints like me are closing their accounts due to lack of support from steemitnian in steemit.
TTD
@kopong
patience is key.. the future is quite bright
My second entry for the @teardrops initiative sir. If you would kindly have a look: https://steemit.com/teardrops/@olawalium/tear-drops-part-two
Thank you for all you do.
Well, If you have been paying attention to steem/steemit, you will discover that it is metamorphosing and I believe in gradual growth. Every useful entity will become valuable over time, this is truer in case of steemit/steem.
I love your application of foresight
It seems nobody has given Terry some imaginary @teardrops, @surpassinggoogle, take some imaginary @teardrops (SMT) ..hahahaha
real thanks
I strongly agree with you. The beauty of STEEM lies in its blockchain as it is not mine-able but community centered. #smt transaction medium is definitely best medium so far.
go through my blog to see my contribution steemgigs!!!!
I hope the future of #smt is more than just a market convert STEEM to SBD, but it can be a market that is able to convert to all other crypto, but most importantly can be in direct exchange with various world currencies, such as USD, EURO or others.
@surpassinggoogle
Yes, i believe that is bound to happen. Numbers first
Smart Media Token can really surpass how the fiat works, since it can be used by any online platform and it can transferred peer to peer all around the world in an instant, without any hassle and without paying any fee. SMT is one of the most greatest innovation in the history of the digital world. Good luck and more power for this SMT!
I think that's one of the main benefits of the Steem blockchain. There are no transfer fees which is great compared to older cryptos like BTC.
Quick transfer and no fees in the transaction is the best thing of SMT, full support to teardrops token
No doubt
SMT has my full support. The prospect is so huge and it's influence would spread like fragrance. This is exciting. Well done sir!
go through my blog to see my contribution steemgigs!!!!
hi boy ,, steemit has become the world's window for the digital currency. You are one of the best developers that is here. will not be achieved a case if not beginning with love and affection that sincere and sincere. and it's just out of your soul. thanks for sharing sir.
It is from his soul. He is one of the best and I call him a 'rare breed'
Thank you Terry for your benevolence
One of the best is an understatement.....i strongly believe he is just d best
Thank you very much handsome
You are welcome. Add me to your prayers. I am so broken. Just pushing.
Please stop! Your tear-drops are enough already. You break hearts whenever you say this, just remember that Jehovah is your help no matter the situation. My prayers will always be with you Terry.
God will trade your weakness for His strength right this moment. David recovered all, so can you. Every brokenness is fixed whatever it is. You are stronger than you think and you have given joy to many. Focus on your strength sir. Do all you can, let God handle all you can't. My prayers are with you.
Thanks for the contribution @bawangmerah230
It is very much true that future belongs to digital currency and steem is going to rock all over
I do agree with the great words of Terry
Thanks a lot @surpassinggoogle for highlighting these points
Stay blessed!
If you really have a resume the bank owner will seat ypu down. @teardrops will be a wonderful success, we will always support it. For the steem blockchain is built with grrat dream and vison. Hence we st #backtolife-project is greatly sure and aware that this Smt will rock and steemit will be here a long time, so we are im talks and desiging all we can around these facts. Withput the tear drops we might be nowhere. Your strenth comes from Jehovah through us, may they abound yet more and more @surpassinggoogle!
Yes steemit is indeed a window to the digital currency, it was through steemit that many of us including myself joined and learnt and crypto.
I agree with you that steemit is the world window, here we need love and caring for each other to bring steemit to the top of the world.
No doubt our edge
I definitely think that Steemit distinguishes itself from a lot of cryptos from it's focus on relationships and communities. We do really need to love and care for each other going forward as this just strengthens Steemit going into the future.
Great Information, it was a Big help to us as steemit users, thanks for sharing this one sir @surpassinggoogle, Godbless you always.
Yes, it definitely was a great boost to our understanding. This post definitely demonstrates the sheer opportunity provided by Steem and SMTs.
Indeed it was...
You are welcome
Exactly. That is where its power lies
Baby Let's Dance
Same here
You are welcome. Thank you very much. Love etc is most essential.
this is interesting. comfort is needed here. I really like the program with very distant thoughts. you are one of the best developers ever. thanks so much sir.
I just have ideas and make use of simplified existing technology. I am by no means close to a coder
Yes sir..of course
This is really eye opening I must say. Obviously, the amazing possibilities of the SMTs are endless and right now one can only imagine.
One sure thing however, is that this is going to play out big for steem and it's blockchain and investors can just position themselves now to take advantage of it.
steem is spreading like anything we all should encourage to come forward and join it.
Yes, lets keep encouraging non steemians to join as steem and steemit is certainly a way forward.
Steem has very impressive scalability compared against many other cryptocurrencies. I can easily envision that Steem with SMT access with become a gateway to growing many communities.
That's really great achievement @surpassinggoogle
Lots of Love for you and Congratulations for introducing SMT (Smart Media Token), Real @teardrops for SMTs.
Tokens are likeliest to be exchangeable for steem/SBD. So envision steem as the middle currency for thousands of digital currencies on a decentralized exchange that we already have.
Lots of Love.
Thank you
The internal market here at Steemit is amazing. I do wholly agree it might be possible to never even leave the Steem ecoystem eventually. I have done some trading before on the external exchanges but they never seemed as safe as the internal market here on Steemit.
Exactly. I feel that comfort in the internal market