Getting smart with Smart Media Tokens: My review dissected for all readers by ehiboss

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steemit · @ehiboss · Oct 1 '17 (edited)

$31.35

Getting smart with Smart Media Tokens: My review dissected for all readers

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![eeeee.jpg](https://steemitimages.com/DQmWcDPirHqZe2BEkvrTnjpBEFXqYZ85JGnoWtSAgfSYRWm/eeeee.jpg)
# The introduction
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##### Imagine this scenario, a site with a database like Facebook decides to reward authors for content, then a huge problem arises, there is basically not enough to go around (in simpler terms).
##### Of course we will reason that they make money from advertising, but it's still not enough because after they reason the large chunk of profit to be made, they won't still have enough to go round.
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### Here comes the solution...Smart Media Tokens
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##### In easy to understand terms, a smart media token is basically a reward system or coin which is designed to reward regular and active content creators and curators of a community.
##### Now in this sense, this is designed to further revolutionize the future of online content creation. Imagine if you find it easier to be rewarded or reward others in a community for a passion you all share.
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##### To take this further, this is built or made on the steem blockchain, meaning at the end of the day, those smart tokens will still further strengthen the blockchain while making an impact on the future of content monetization online.
##### This actually means steem becomes a stronger contender for the number one slot on the coin market cap, with a high possibility of overthrowing bitcoin.
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##### Since the announcement by @ned, it has become more evident that this strengthened the steem currency as while most of the coins at the top ten have been taking a beating, steem has been constantly rising.
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 ![Screenshot (372).png](https://steemitimages.com/DQmePMr3bUx6qhizaaEF4VBZFVpdjtydm54ETbU1nzGzBQi/Screenshot%20(372).png)
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![Screenshot (371)111.jpg](https://steemitimages.com/DQmTvxmd3EAhnBFpTvCVzNGyBJcr7TqgSsUeH5kdiaZGe1h/Screenshot%20(371)111.jpg)
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##### I mentioned something about steem being a contender right? One of the reasons bitcoin is popular is because of mass adoption for various purposes, meaning bitcoin can be used to book a hotel, pay rent, exchanged directly for fiat currency etc.
##### The smart media token does this in another format, with the foundation of the steem blockchain, apps or sites built around it can generate tokens to reward active members in what is called a proof of brain.
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##### The smart media token created is not controlled directly by anybody to avoid manipulation and heart breaking stories, it is controlled by an algorithm which fuses with the site and basically monetizes content.
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![gift-1420830_960_720.jpg](https://steemitimages.com/DQmWX8DR98kp4XTgwa4AA3hp2BPBLU5yRaUeXa6vEvWTP4P/gift-1420830_960_720.jpg)
# A thing of beauty
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##### The cool thing about Smart Media Tokens is that it can be easily adopted by any platform, especially those with a large database and imagine an person like Paris Hilton adopting this system in rewarding her large followership base.
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##### I spent hours reading the smt pdf whitepaper  and even more time trying to simplify something already simplified.
##### It can be related to an app like steemit chat, rooms could be created and regular commentators will be rewarded with a steemit chat token.
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![chain-2364830_960_720.jpg](https://steemitimages.com/DQmNZhzmMACqP5w1ojJhqN3LaimwtaYZRrYTYdEKbBoZe75/chain-2364830_960_720.jpg)
# Who it affects?
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##### Everyone...
##### An individual who is active in community engagement will benefit from such an innovation in a community powered by Smart Media Tokens as he will be able to receive rewards from the creator who wishes to reward such effectively and it's all going to be happening in the steem blockchain.
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##### With mass adoption of numerous tokens centered or pioneered by this blockchain technology, comes mass increase in the price of steem itself. This is like a dream come true or Christmas wishes on steroids and nitro boost.
##### To work this magic, the first thing to not is a steem account(preferably new) does it. There are [other conditions](https://smt.steem.io/smt-whitepaper.pdf) guarding it including rules guarding posting with such account etc.
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##### Well except the document being a lengthy read and some abbreviations, everything else seems good to go and remember, this is Smart Media Tokens in my own simplified words and understanding.
##### In case you might need the video of the announcement of the Smart Media Tokens obtained from @ned's blog, it is included below.
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https://youtu.be/mdzWY-B83W8
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##### What intrigued me more was the simplified explanation on why it was created and here is a video also from his blog
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https://youtu.be/w3acqauTdhc
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# Remember to be at Steemit In Nigeria event

![daniel's flyer copy.jpg](https://steemitimages.com/DQmU5vSPntYiXJUEeyXQcm2QFfxdeBQ5tMnE3LxPvfkxmKA/daniel's%20flyer%20copy.jpg)
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# Hey have you voted for a witness today?
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##### I explained everything in simpler terms [here](https://steemit.com/steemit/@ehiboss/being-a-bit-gigs-supporter-vote-for-your-witness-today)
##### Witnesses basically are those who have volunteered to help keep this place up and running.
##### To vote for a witness, [click here](https://steemit.com/~witnesses)
##### Vote @ausbitbank, @steemgigs, @teamsteem and @xeldal for witness
##### If your witness is outside the top 50, here is how to vote using the search
![Screenshot (349).png](https://steemitimages.com/DQmTbhGNSd2bKZb4pT2nHEddua1pjLyGHcTmkWfVuL6AgrM/Screenshot%20(349).png)
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# Thanks to @elyaque for the badge
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# Images from [ned](https://steemit.com/steem/@ned/announcing-smart-media-tokens-smts) and [pixabay](https://pixabay.com) except the Steemit In Nigeria image
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![lion badge.png](https://steemitimages.com/DQmaFwRpYLiSu7fatDymW2iUokFu4Hf4TNLyj9SDMLVy1BV/lion%20badge.png)
![new footer.gif](https://steemitimages.com/DQmYfKYGX2M8Qc8nNUi6TqUzHKoeLmafZ6PVBMjt7wjXe5R/new%20footer.gif)

👍 donkeypong, analisa, ausbitbank, oldtimer, onequality, alexis555, hanshotfirst, ogoowinner, gbenga, kevinwong, thecryptofiend, destinysaid, gavvet, teamsteem, mikemiziner, hilarski, timsaid, ehiboss, pharesim, anu, cryptoctopus, xeldal, gonzo, uwelang, tojukaka, fisteganos, gloglo, dragonslayer109, illuminatus, greenrun, smyle, bue, enki, middle-theory, oluwatobiloba, turpsy, tormiwah, ememovic, bigtakosensei, tecnosgirl, samminator, fyrstikken, oluwoleolaide, rickie, berkah, jacor, bitcoiner, pnc, sharpshot, bat-junior, joshpeterson, nataliejohnson, blessing97, mandela, kolawole, dray91eu, spiritualmatters, lightninggears, cutedicta, masterwriter, crazymumzysa, khojo, funnyman, bbomber, and 48 others

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@abeem90 · Sep 30 '17

$0.09

Simply down to earth....

👍 ehiboss

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ehiboss	0 B		33,013,150,264	6%

@ehiboss · Oct 1 '17

Thanks

properties (22)

@bania · Sep 29 '17 (edited)

$0.11

Great review man, i just did mine too

After reading the whitepaper i couldn't find sleep, i couldn't find peace. All i was thinking was how i could come up with ideas and most importantly get more money to buy some steem. Gladly, i manage to convinced my not-so-techie dad to let's put some money in this. 

What i see is the beginning of something great for STEEM. The price hike is a start of a up trend and i can see this trend is going to last longer than the previous uptrend STEEM price has seen. I also see STEEM achieving multiple new all time highs soon.

Let's watch and see because the true value of STEEM is about to be discovered by real crypto investors

**edited**

Try and use the "smt" tag for posts relating to Smart Media Tokens, it hot right now and people are searching the tag to get more information on the project.

👍 ehiboss, bania

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@ehiboss · Sep 29 '17

Thanks for the tip

properties (22)

@bbomber · Sep 30 '17

$0.09

any SMTtoken is an asset issued on top of the STEEM blockchain and it's traded in a SMTtoken/STEEM pair, so the steem is major trading pair for any SMT in this way it helps steem token itself.

👍 ehiboss

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@ehiboss · Oct 1 '17

You can say that again.

properties (22)

@caramaybell · Sep 30 '17

$0.09

Excited to see what is to come of the smart media tokens.

👍 ehiboss

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@ehiboss · Oct 1 '17

Me too

properties (22)

@clumsysilverdad · Sep 30 '17

$0.09

STEEM = EN FUEGO !   ... it is storming the world... with the recent run-up i think a few more savvy people should be brought on to keep tailoring the roll out in a inviting way for all smarties that want to join.... continuous improvement / peace!

👍 ehiboss

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@ehiboss · Oct 1 '17

Steem will take over the world

properties (22)

@greenrun · Sep 30 '17

$0.09

I am still reading the white paper. But I know it was something great after seeing Ned's excitement and the apparent bump in the price of steem after the announcement. Good news for all of us who are steem holders. Say hello to $4 steem real soon 
Nice work on the simplification as the white paper is a bit technical. Keep steeming.

👍 ehiboss

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ehiboss	0 B		33,013,150,264	6%

@ehiboss · Oct 1 '17

This is a dream come true

properties (22)

@kingchuks · Sep 30 '17

$0.09

This is one of the most explanatory articles I've read on this subject so far. Thanks for the explanation, I am happy to be a Steemian, to be a part of this new force.

👍 ehiboss

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@ehiboss · Oct 1 '17

You are welcome

properties (22)

@learnandteach01 · Oct 1 '17

$0.09

I have been trying to understand SMT. Thanks @ehiboss for this concise piece. 
I hope someday the steemit in Nigeria concept happens in Ibadan.

👍 ehiboss

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@ehiboss · Oct 1 '17

You are welcome

properties (22)

@masterwriter · Sep 30 '17

$0.09

Wonderful explanation. 
This is great. 
Thanks for the review.

👍 ehiboss

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@ehiboss · Oct 1 '17

You are welcome

properties (22)

@mikemiziner · Sep 29 '17

$0.09

this is awesome thank you !!!

👍 ehiboss

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@ehiboss · Oct 1 '17

You are welcome

properties (22)

@samminator · Sep 30 '17

$0.09

This is another milestone achievement from Steemit. It can only get better

👍 ehiboss

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@ehiboss · Oct 1 '17

Indeed it can only get better

properties (22)

@sharpshot · Sep 29 '17

$0.09

This is exciting news.  Steem did seem at a great price when I bought some, just wish I had bought more now.  Still seems like one of the most undervalued coins, perhaps people are starting to see the potential now?

👍 ehiboss, sharpshot

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@ehiboss · Sep 29 '17

People will be surprised when this undervalued coin makes bitcoin seem like an obsolete relic

properties (22)

@spiritualmatters · Sep 29 '17

$0.08

@ehiboss I had to upvote and resteem your post. This is by far the best explanation I've read thusfar. The white pages are tailored for the tech savvy. Explanations such as this really help.

Is it safe to say that this will make it a more level playing field, aka minnows *vs* whales?

If time allows, could you please give an example of how a minnow could benefit from the tokens?

Thanks for the post.

Peace.

👍 ehiboss

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@ehiboss · Sep 29 '17

It's not about minnows vs whales, it is about being able to benefit from contributing/engaging in your community.

properties (22)

@spiritualmatters · Sep 29 '17

$0.26

Okay...

So, let's say I'm a Steemian who engages frequently with the community.

It's Day 1 of using the Tokens.

Let's say as an initial trial I've been given 20 tokens, valued at $20. 

Now, I'm converting $10. into penny increments for upvoting.

What would you suggest doing with the other $10?

Or would you do something totally different with the whole $20.

While you say it's not about minnows and whales, respectfully speaking, whales have far more SP than the average minnow; thus, more power to invest in tokens.

I suppose the bottom line is: It sounds like in order to take advantage of the tokens, one has to be willing to buy STEEM with SP they already have; and/or put their own dinero into STEEM.

For the first time, it's sounding like a pay to play scenario; which makes my antennae go sky high.

I know it's legit; but, I don't know that everyone is going to benefit, especially if they have to come out of pocket.

This sounds like one more level to benefit the whales.

All that said, I still think Steemit is the best platform that's come along in a long while. 

However, this new 'twist' makes me realize my first precept on joining: Generally speaking, blogging is not a service that people will buy. 

It's not like I need new shoes...I pay...receive product. 

Thus, I knew that eventually they'd have to find a way to involve the community or funding by advertising in supporting the platform.

Peace!

👍 codybill2

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2 replies

@tochi · Sep 29 '17

$0.08

Am impressed, you really break Everything down in such a way that even a layman will understand. I did not fully comprehend this when i first I saw it, but now it's very clear  me. Thanks you for taking your time to simplify this.

👍 ehiboss

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@ehiboss · Sep 29 '17

You are welcome

properties (22)

@tojukaka · Sep 30 '17

$0.09

>This is like a dream come true or Christmas wishes on steroids and nitro boost.

Fantastic!! 

You can say that again!

👍 ehiboss

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@ehiboss · Oct 1 '17

I just said it out loud again..

properties (22)

@tony-duke · Sep 29 '17

$0.09

This is really a milestone for steem in the coin market, a more stable increase that can draw the attention of big investors without fear of a drastic fall in value like it did before,, hmm, i really see steem overcoming btc in the nearest future

👍 ehiboss

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@ehiboss · Oct 1 '17

Steem to the moon

properties (22)

@turpsy · Oct 3 '17

$0.09

>The cool thing about Smart Media Tokens is that it can be easily adopted by any platform, especially those with a large database and imagine an person like Paris Hilton adopting this system in rewarding her large followership base.

This is some big plus I see with the smt. This means users will be effectively rewarded as well as the owners. It makes it a win win situation. I cannot wait for it to go mainstream and for highly place tech coy to adopt it. Steem bullish.

👍 ehiboss

properties (23)vote details (1)

@ehiboss · Oct 4 '17

Me too...

properties (22)