How do we understand the impact of Steemit CEO @Ned's new SMT whitepaper in 2 minutes? Will you read this post for a quick summary in the most basic terms of the whitepaper release yesterday at https://smt.steem.io/ because knowing what to do next will be simple?
Steem SMT To Do List!
- Buy and hold Steem! This announcement already drove the price up 30% yesterday and as more traders, investors, spectaculars, and Steem users understand what it means, the demand for Steem is likely to drive the price consistently over the next few months. I estimate it the Steem price will be over $10 within 6 months.
- Post on Steemit! While earnings today might look like $1, as demand continues to go up, what is paid today as $1 in Steem and SBD when converted all to Steem Power will actually be worth $10 and much more in a relatively short time. Write one post a day regardless of earnings and the rewards will continue to stockpile over the coming months!
- Bring friends and family to Steem! I still remember my friend Terry Davis getting me in on Facebook in 2005 which led me to dating several girls and starting my business. Our friends and family treasure the moments when we get them in on something big before most of us know about it. When Steem goes crazy, our friends and family will thank us for the rest of our lives for getting them in early!
- Keep learning more about Steem! It is complicated enough to merit conversation which is great for sharing and going viral. Even with all I do on Steem, I learn new things every day.
- Turn SBD rewards into Steem on the marketplace at https://steemit.com/market because the higher the Steem price goes, the less SBD will buy of Steem.
- Go all in on Steem part time or full time. I gave up making more online video courses to do Steem full time in August 2017 which has reduced the income from my business already $10,000 to $20,000 a month because I have no new video courses to sell. I am taking this huge leap of faith instead of simply doing what I am sure will make more money in the short term because Steem is the opportunity of a lifetime! Those of us going all in before Steem gets into mass adoption will be able to serve here the rest of our lives in empowering each of us to honestly share our life story and experiences here which is a gift humanity desperately needs in a time where so many of us do not feel free to tell the truth to the world about our lives. This is why I show up to Steem each day and this whitepaper provides good evidence that this is a wise decision.
Smart Media Tokens for Dummies!
- ICO for $1 on Steem! Smart Media Tokens will allow anyone with even minimal coding knowledge to launch a new token for $1 empowering the 99.999% of the world before that was not up for doing an ICO on Ethereum to launch on Steem. A huge part of the Bitcoin and Ethereum price increase lately has been ICOs launching on Ethereum. We are now tapping into the same power on Steem!
- Steem comments widget! Blog commenting is one of the most annoying parts about blogging online. Existing systems all are different and almost every blog requires a unique account. Commenting is often a complete waste of time and is worth nothing most of the time while occasionally perhaps getting a great opportunity or response. This new whitepaper shows how we can make one rewarding comment system consistently used on WordPress, Blogger, or any platform willing to integrate with Steem.
- Monetize existing communities! Smart Media Tokens will allow any existing community such as the New York Times or Tim Ferriss's blog or the Bitcoin subreddit or Medium to bring the features of Steem online without having to use steemit.com or the Steem cryptocurrency other than to buy in.
- Motivation for exchanges to add Steem! Coinbase, Bitstamp, Kraken, and all the USD or fiat exchanges make decisions on what to add based on an estimation of how much work it would be to add the new currency plus what reward will be received in terms of new users and revenue. Adding Smart Media Tokens to Steem provides huge motivation for users to transact in Steem and naturally for exchanges to want to have a USD, EUR, or fiat direct exchange with Steem. Every exchange adding Steem is likely to equal a big price increase as it has for Bitcoin, Ethereum, Litecoin, Ripple, Dash, etc.
I hope this post is helpful to see the impact of this whitepaper based on the time I spent reading it at https://smt.steem.io/.
Thank you to @fitinfun for motivating me to create this after posting this comment yesterday.
Please Jerry, write a post called "Ned's new token scheme for idiots and what you need to do now (or not)" so we might have a clue. We are counting on you from the fog of steemit. Thank you!"
Further Reading on SMT
Smart Media Tokens: Why We're Doing It [VIDEO] by @ned at @ned/smart-media-tokens-why-we-re-doing-it-video
Dissecting the Smart Media Token (SMT) Whitepaper (an Easy Overview) by @nanzo-scoop at @nanzo-scoop/dissecting-the-smart-media-token-smt-whitepaper-an-easy-overview
How Steemit Smart Media Tokens can empower current influencers to become brands in their own right by @teamhumble at @teamhumble/how-steemit-smart-media-tokens-can-ultimately-empower-current-influencers-to-become-brands-in-their-own-right
The Day the Paywalls Died: How Steem’s Smart Media Token Saved My Family’s Newspaper by @donkeypong at @donkeypong/the-day-the-paywalls-died-how-steem-s-smart-media-token-saved-my-family-s-newspaper
Love,
Jerry Banfield
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PS: This post today is a part of my service as a full time witness for Steem! Witness votes are the most important votes we make on Steem because one vote for a witness lasts indefinitely! Would you please make a vote for jerrybanfield as a witness or set jerrybanfield as a proxy to handle all witness votes at https://steemit.com/~witnesses because when we make our votes, we feel in control of our future together? Thank you to the 1200+ accounts voting for me as a witness, the 258M VESTS assigned from users trusting me to make all witness votes by setting me as proxy, and @followbtcnews for making these .gif images!
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