SMTs on Steemit are the equivalent of UIA on Bitshares, already used by many projects and whales to support communities here, so this is a way to bring that function internal to Steemit itself. This has nothing to do with EOS. :-)
Yes, I do find similarities between UIAs and SMT. But where do they differ?
so this is a way to bring that function internal to Steemit itself.
SMTs are Steem-specific (to bring in more demand for Steem)? As for UIAs, you create your own token for your own consumption and you generate the demand for it?
The functionality and purpose will be identical. Everything mentioned in the notes about SMT is what UIA(and similar assets) on Bitshares DEX already does. The only difference will be where they are created and traded -- UIA on the Bitshares DEX, and SMT will have to be on a new internal Steemit DEX.
But, since at the moment people/platforms/projects use UIA on Bitshares DEX to exchange for upvotes to support communities on Steemit it technically builds value in Bitshares Branding ( and also in exchange fees). Steemit/STEEM gains nothing from it directly.
So that's why I mentioned this is just a way to bring that function internally to Steemit. Keeps the money, fees, and users in STEEM. One-stop-shop. So that will be a good thing in the long run.
There was some debate in the other comments about the "ICO" aspect being promoted as the biggest part, but that draws regulation/law issues in many countries. So perhaps a rephrasing of that or how it builds in will evolve as they go along.
Correct me if I am wrong, but ain't those two different from one another? SMT's are a tool to implement the same kind of functions Steemit has, to an already build platform. EOS is used to make the platform itself.
SMTs on Steemit are the equivalent of UIA on Bitshares, already used by many projects and whales to support communities here, so this is a way to bring that function internal to Steemit itself. This has nothing to do with EOS.
Well, I don't think they'll do anything to each other but help each other, to be honest. I think that it will be pretty harmonious; symbiotic. Well, aside from Ethereum. I feel like that one's going to suffer some harsh blows.
We already have a big community, working platform and many different ways to utilize steem and steemit. But that's are just my thoughts and gut feeling. I don't know anything about the whole thing from the technical perspective. If you look at the real life you can see that the first mover advantage is difficult to catch.
Let's get a response to that from @ned on video! I think it makes more sense to ask it the other way around actually! :)
Community Liaison, Steemit
great question here -
this is one of my questions as well.
SMTs on Steemit are the equivalent of UIA on Bitshares, already used by many projects and whales to support communities here, so this is a way to bring that function internal to Steemit itself. This has nothing to do with EOS. :-)
I posted my comment below before reading this.
Yes, I do find similarities between UIAs and SMT. But where do they differ?
SMTs are Steem-specific (to bring in more demand for Steem)? As for UIAs, you create your own token for your own consumption and you generate the demand for it?
The functionality and purpose will be identical. Everything mentioned in the notes about SMT is what UIA(and similar assets) on Bitshares DEX already does. The only difference will be where they are created and traded -- UIA on the Bitshares DEX, and SMT will have to be on a new internal Steemit DEX.
But, since at the moment people/platforms/projects use UIA on Bitshares DEX to exchange for upvotes to support communities on Steemit it technically builds value in Bitshares Branding ( and also in exchange fees). Steemit/STEEM gains nothing from it directly.
So that's why I mentioned this is just a way to bring that function internally to Steemit. Keeps the money, fees, and users in STEEM. One-stop-shop. So that will be a good thing in the long run.
There was some debate in the other comments about the "ICO" aspect being promoted as the biggest part, but that draws regulation/law issues in many countries. So perhaps a rephrasing of that or how it builds in will evolve as they go along.
Just my thoughts on it all. ;-)
Thank you for this. I guess the real learning comes when SMTs are actually implemented and put into use.
What I can see from it is that SMTs and UIA are not in direct competition with each other but 'symbiotic' in nature and just feeding off each other?
Basically what I want to grasp is, when are SMTs beneficial to use and what are UIAs beneficial to use for (besides buying upvotes)?
Correct me if I am wrong, but ain't those two different from one another? SMT's are a tool to implement the same kind of functions Steemit has, to an already build platform. EOS is used to make the platform itself.
EOS is a blockchain operating system, the simplest way to explain it. It's not an ICO factory.
Used to build those applications on, that is how I understand it. So SMT's would be linked to those applications made on the EOS blockchain.
SMTs on Steemit are the equivalent of UIA on Bitshares, already used by many projects and whales to support communities here, so this is a way to bring that function internal to Steemit itself. This has nothing to do with EOS.
I think that steemit inc. will kill EOS and Ethereum with one shot.
Well, I don't think they'll do anything to each other but help each other, to be honest. I think that it will be pretty harmonious; symbiotic. Well, aside from Ethereum. I feel like that one's going to suffer some harsh blows.
What about NEO? It gained a lot recently!
We already have a 400K community with wallets and keys. Nobody can catch up. They're too late.
Of which 31k are using it regularly. Of which 5-6k are bots (could be even more!). That leaves about 25k active users.
Engagement is the key.
If you think that SMTs will kill NEO, you are dreaming.
Sorry. I didn't say that.
OK.
Then, could you explain what you mean by "Nobody can catch up" to the question "What about NEO?" ?
We already have a big community, working platform and many different ways to utilize steem and steemit. But that's are just my thoughts and gut feeling. I don't know anything about the whole thing from the technical perspective. If you look at the real life you can see that the first mover advantage is difficult to catch.
Slovenian BOSSMAN lady’s and gentleman’s 😁💪💪💪 @oldtimer !!
Yes, I believe it is.
the same here
I don't think that the two are really comparable.
Similar question here. How does it differ from creating a User Issued Asset (UIA) in DEX?
@vcelier you have been followed