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RE: STEEM - Still sitting on the small support just under 0.24$
Dear @cryptopassion
Wow. Wow. What an amazing comment. Thank you for taking the time to share your knowledge and view with me.
Let's hope SMT done by STEEMIT will focus on giving value to STEEM.
I've been actually wondering, how SMTs can affect price of STEEM. And I'm failing to understand that. I understand that SMTs will be build on top of STEEM blockchain, but again ... how can SMT create more demand for STEEM (demand needed to bring price up). Any suggestion? :)
Enjoy your monday :)
Yours, Piotr
it can create demande by asking to SMT creator to power up a certain amount of STEEM to be able to create their SMT. Exactly what Steem-Engine is doing now with the ENG tokens. In fact, Steem-Engine is doing well the job, the only problem is that all their processed is not based on STEEM but based on their token ENG
Okey, that make sense @cryptopassion
I'm just wondering ... Steem Inc is apparently selling 800k STEEM monthly (that's what I've read several times). Can even SMT really slow down this selling pressure?
I can only hope that SMT will require STEEM not only during creation of their SMT.
Cheers
Piotr
read that article from one of the creator of Steem-Engine :
https://steempeak.com/steem-engine/@aggroed/steem-engine-powered-tribes-pricing-guide-for-creating-and-distributing-smart-contract-community-tokens-scot-through-steem
You will understand how they are creating value for their token ENG and so Steemit must do the same but instead of ENG, they must use STEEM
Thank you for sharing that link with me @cryptopassion
I appreciate it a lot. Will check it out right away :)
Yours, Piotr