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RE: Ask Me Anything Contest The Best Questions Win SBD - Dragging You Up With Me Week #7
I’ve read a bit about this but I’m not really clear on the impact it will have so my question..How do you see SMT’s affecting the STEEM blockchain?
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I am very concerned for the well being of the value of Steem with the development of SMT. We have an example to look at, ETH and their tokens and how that has played out.
Here is a link relating to the market plays
Even today we continue to see mass sell offs from the projects and ICOs which relates to a price dump of the main coin also. As these projects need to continue their development and income is necessary they will capitalize on the higher prices thus pushing the price lower, yet if they do not sell they could essentially bankrupt the project.
It will be a great way for funding projects that is for certain and long run should be adding value to the Steem blockchain and ecosystem but at the same time it opens the door for an increase in volatility of Steem itself which could go either way.
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