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SMT Testnet is LIVE by steemitblog

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· @steemitblog · (edited)
$43.01
SMT Testnet is LIVE
![SMT testnet live.jpg](https://cdn.steemitimages.com/DQmUXhPDz7WA8EzjnSWZrvyojxW5BHqTq2hxcNfpfKiK3QD/SMT%20testnet%20live.jpg)

We are excited to announce that the Smart Media Token (SMT) testnet is now live! 

You can connect to the testnet by listing testnet.steemitdev.com:2001 as a seed node and by setting your chain id with option ```--chain-id=46d82ab7d8db682eb1959aed0ada039a6d49afa1602491f93dde9cac3e8e6c32```


<h1>Entrepreneurs & Developers</h1>

This is an especially exciting moment because it means that once the testnet hardforks in SMTs, developers and entrepreneurs will be able to begin playing with Smart Media Tokens in a test environment! This has been 2 years in the making, but the development phase of SMTs is finally complete, and testing has begun.

<h1>Testing Philosophy</h1>

Testing SMTs is going to be a bit different than testing previous hardforks. The features being added are the most extensive feature set we have ever added to Steem. Most of the preexisting systems in Steem had to be extended to support SMTs. Due to the magnitude of this update, we are planning on an extended testing period to ensure we catch all critical bugs, catch as many minor issues as possible, and to give our developer community as much time as they need to integrate their applications with SMTs. 

In the first month or two, we will be liberal with relaunching the testnet when bugs are caught and fixed. The first few of these testnets will have a hardfork date a few days after launch to test the hardfork block. When we feel comfortable with that code path, we will launch testnets with SMTs enabled.  Once we feel we have caught the low hanging fruit, we will leave the testnet up for an extended period to give developers some stability in their testing and development. 

<h3>Hardfork Date</h3>

We are not announcing a hardfork date for SMTs because we want to allow for as much testing as needed to ensure a smooth launch for SMTs.

<h3>Testing SMTs</h3>

SMTs have a number of customizable parameters which enable countless potential configurations. Once SMTs are enabled, and our client libraries updated, we strongly suggest that developers begin experimenting with these different options and testing them in their applications so that they can observe the impact on user behavior. Of course, these will not be “real” SMTs in the sense that none of them will be running on mainnet and all the information will be reset once the code is hardforked in.  

<h1>Testnet v. Mainnet</h1>

SMTs on mainnet will be full-fledged cryptocurrencies with industry-leading features like 3-second fee-less transfers. But they will also feature *unrivaled* features like Proof-of-Brain which, if tuned properly, can be a powerful mechanism for bootstrapping token usage by turbocharging engagement. But bear in mind that once cryptocurrencies become tradeable and acquire real utility, the way that people interact with them changes and becomes highly unpredictable. 

That is precisely why it is so important to test one’s SMT as thoroughly as possible before it is released, because like any cryptocurrency, once an SMT is released, its economic properties cannot be altered without a hardfork. 

<h1>#newsteem</h1>

The added benefit of all this testing will be helping the Steem ecosystem by ensuring that these changes do not negatively impact the Steem blockchain. SMTs represent the single biggest change to the Steem blockchain since the original release! Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies that “just work.” 

<h3>Onboarding the Masses</h3>

We have long said that our mission is to onboard the masses to the blockchain by tokenizing the web. After SMTs, every website and web application will be able to have their own powerful cryptocurrency customized to meet their own needs and maximize their own business and social objectives. 

***Steem will be the critical computational layer supporting all of these different tokens, while STEEM is the critical *financial* layer providing transferability, liquidity, and access to exchanges.***

So go forth and test the SMT hardfork! We’ll be presenting about SMTs at SteemFest, so if you’re going to be there, be sure to attend our presentations.

_The Steemit Team_
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@abdulmanan ·
Will @ned be there at Steemfest?
👎  
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@havaldaar ·
who cares @ned ???
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@jaki01 ·
$0.09
@ned has already <a href="https://steemit.com/meme/@jaki01/where-is-ned">fled the battlefield</a>. :)
👍  , ,
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@abdulmanan · (edited)
$0.02
Why? is he a coward ?
👍  ,
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@abdulmanan ·
Will @ned be there at Steemfest?

And i request the team to visit @stephenkendal blog, as he is doing great job to promote steem but non of you has given him the support he need, Kindly have a look at his blog. @stephenkendal
👍  
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@guiltyparties ·
He' a great guy and pretty well known. I don't think it's a formal Steemit Inc matter or related to SMT testing however.
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@abdulmanan ·
But Why he is unheard yet?
👎  
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@havaldaar ·
yes bro you are right @stephenkendal is awesome person
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@abojasim880 ·
you are hero
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@abojasim880 ·
what about steemfest
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@abojasim880 ·
https://golden-farm.biz/?r=1284064
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@abojasim880 ·
http://myaddsup.com/index.php?r=abojasim
👍  
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@abraham2019 ·
This is amazing steemit is making my day.
👍  
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@adasq ·
Any docs how to integrate an app with SMT available? Not even mentioned in an article...
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@ahmadmanga ·
Finally! we've waited this for a long time~

I wonder how SMT will affect Steem-engine tribes, though I'm interested more in seeing how it'll affect STEEM price!!
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@ajoymajumder ·
Agree
👍  
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@alokkumar121 ·
Fantastic news to start the weekend. Awesome work..
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@amahovac93 ·
Awesome!
Lets make Steem the number 1 blockchain.

Posted using [Partiko Android](https://partiko.app/referral/amahovac93)
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@ammonite ·
Cool that you are moving forward with this a such a steady pace.
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@ange.nkuru ·
Woot woot
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@ash ·
Great news! :) 
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@ausbitbank ·
$0.03
My testnet witness is up and running and already <a href="https://testnet.steemd.com/b/134844#0000000000000000000000000000000000000000">produced block 134844</a> :)
👍  , , ,
👎  
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vote details (5)
@balticbadger ·
Please save Steem!!!!

Posted using [Partiko iOS](https://partiko.app/referral/balticbadger)
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@beerlover ·
<div class='pull-right'>https://cdn.steemitimages.com/DQmaHThyECGhEx8tSfHZbiMFRNYjJ35K92cDgiJjkzBUaJo/One%20sip%20of%20BEER%20for%20you.gif<p><sup><a href='https://steem-engine.com/?p=market&t=BEER'>View or trade </a> <code>BEER</code>.</sup></p></div><center><br><br> <p> Hey @steemitblog, here is a little bit of  <code>BEER</code> for you. Enjoy it!</p> </center>
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@birdinc ·
I like to think of Steem Engine as an SMT testnet as well.  Any projects looking at building on Steem and launching an SMT probably have (or should be) already experimenting with SMT-like functionality on Steem Engine.
👍  
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vote details (1)
@circa ·
Would the Steem team ever consider running a permanent test net with a dedicated UI? There is a technical barrier in connecting to the test, which significantly decreases the number of participants in testing phases.
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@justinw ·
Yes. As we get farther into the testing phase, we will likely run a UI for creating SMTs as well as (a bit later) an updated testnet condenser. Before doing a UI we first need library support which we are currently working on.
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@concorde ·
Great news indeed
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@d0zer ·
$0.33
Good news. Hopefully they will bring some value to this place.
👍  , , ,
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vote details (4)
@deboskey001 ·
Of course
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@dana-edwards · (edited)
$0.03
Good news. After SMTs launch we need need need to fix and upgrade the Steem Dollar. We need a stable token which pays interest on Steem.

https://steemit.com/steem/@dana-edwards/will-steem-developers-fix-upgrade-the-steem-dollar
👍  
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@darmianto5 ·
Thanks you me happy nes ubdate it your post
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@eii ·
!BEER
👍  
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vote details (1)
@ekushya ·
!trdo
👍  
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vote details (1)
@trendotoken ·
Congratulations @ekushya, you are successfuly trended the post that shared by @steemitblog!
@steemitblog will receive <b>0.01186200</b> [TRDO](https://steem-engine.com/?p=history&t=TRDO) & @ekushya will get <b>0.00790800</b> [TRDO](https://steem-engine.com/?p=history&t=TRDO) curation in 3 Days from Post Created Date!

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---
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@ericet ·
WOW! That's exciting! Great job Team!
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@felixxx ·
When are you going to update Steem-JS and/or Steem-Python ?
Do you expect me to use cli_wallet ?
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@florian-glechner ·
Wow finally. This is such a big step. Let's hope people will find the potential this brings and Steem to the moon. :-)
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@flxlove ·
What makes SMTs any different than the tribe tokens that are already in existence?
properties (22)
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@ecoinstant ·
Steem-engine is a private, centralized side chain.  SMT's will be consensus and baked into the blockchain.  That said, SMT's do not necessarily replace all uses for SE tokens.
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@gangstalking ·
On steem?

Self proclaimed community watchdogs are actually hacking and stalking people.

This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom. 

My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.

This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.

With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.

This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.

Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
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@girlsofgreen ·
$0.02
"Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies" 

Where does that leave us, the content creators? Should we stop investing our time and effort on Steem, now that it is changing into a platform to release new cryptos? How about curators with money invested here, who believed in rewarding quality content? Should they pull out?

Was this paradigm shift in blockchain direction discussed anywhere, before being snuck into this post like an afterthought?
👍  , , , , , ,
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vote details (7)
@justinw ·
Nothing is planned to change about the mechanics of the base STEEM token with the roll out of SMTs - this statement just means that Steem will no longer be a one-trick-pony. If others wants to launch a new token that has the same (or different) features as STEEM, they will soon be able to do so. This vastly broadens the use cases for the Steem blockchain (even beyond social networking).
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@guiltyparties ·
$0.28
Will set up and give it a go.
👍  , , , , , ,
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vote details (7)
@habibabiba ·
Very good news for us.Best wishes for the team.
👍  
👎  
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vote details (2)
@ijr45 ·
Hi,

I keep reading that SMTs are easy to set up, even for entrepreneurs without developing skills...

Now I can connect to the testnet by listing testnet.steemitdev.com:2001 as a seed node and by setting your chain id with option --chain-id=46d82ab7d8db682eb1959aed0ada039a6d49afa1602491f93dde9cac3e8e6c32

If this is your idea of a user-friendly instruction, I'll be damned xD   

Can someone elaborate and provide a step-by-step instruction as how to access the testnet?

Thanks a bunch!
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@onthewayout ·
>I keep reading that SMTs are easy to set up, even for entrepreneurs without developing skills...

We are not there yet, right now only developers can play around with the code (with the testnet). Once that phase is complete (which can take months) and the witnesses are confident that it's safe to deploy the code in a live enviornment then we can talk about setting a date for a hard fork and develop the user interface(s) where it will be "easy" for non-developers to setup an SMT.

In the meantime those of us without developer skills will have to wait.
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@inertia · (edited)
$4.76
If you want to set up a testnet node, here are the general steps (this is how you do it in general, but it helps to know how to deploy your own):

https://developers.steem.io/tutorials-recipes/setting-up-a-testnet

Once that's working, here's how to wire your testnet node into the official testnet (you can skip right to these steps if all you want is to connect your node to the official testnet):

https://developers.steem.io/quickstart/#quickstart-testnet

**Update:** It appears that Ubuntu 16.04 LTS is no longer supported for these steps (wrong version of boost).  Maybe boost-1.65.1 can be installed on Ubuntu 16.04 if you bypass the package manager.  But for these steps, *at least at the moment*, it is recommended to switch to Ubuntu 18.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
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vote details (30)
@chrisrice ·
They posted this announcement on Facebook which is good **BUT** nobody is moderating the comment section and there are a ton of comments about recieving free Bitcoin from them.

Can you raise the idea of making me a moderator and possibly others, and we can moderate their Facebook comments for free @inertia @theycallmedan @stackin

Posted using [Partiko Android](https://partiko.app/referral/chrisrice)
👍  , , ,
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vote details (4)
@freddio ·
you are an hero!
👍  
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vote details (1)
@gangstalking ·
On steem?

Self proclaimed community watchdogs are actually hacking and stalking people.

This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom. 

My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.

This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.

With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.

This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.

Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
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@jacobyu ·
Thank you for sharing good tutorial.
But, I want to test making token, not running testnet node.
Could I make smt token on testnet while not running testnet node??
👍  
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vote details (1)
@inertia ·
$0.09
It is possible.  The blockchain supports it, but there's no tooling for doing that right now.  In other words, nobody has written a UI yet.  And the tools that the UI would need have to be developed.
👍  , ,
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vote details (3)
@ravi7696 ·
do a video on smt ,, what can we don with them,, how they can ad value to steem blockchain.
properties (22)
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@inertia ·
$0.04
Can't really do a video.  It would just be a screen of text right now.  Here are more details, though:

https://steemit.com/steemdao/@inertia/proposal-39-devportal-documentation-update-smt-research
👍  
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vote details (1)
@numberofthingz ·
I made one :) Please enjoy.

https://www.youtube.com/watch?v=AwHcTi_G-8o&t=
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@zulaoyun ·
good
properties (22)
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@jacobyu ·
$0.05
Could you give me some examples or tutorial?
I don't want to setup testnet node. I just want to try smt token creation.
Without running testnet node, can I test smt??
👍  
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vote details (1)
@jekhy ·
SMT Testnet is LIVE
Thanks for the post[.](https://koreanfoodie.me/81)
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@jenifer3424 ·
Airdrop is ended or coming?
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@juvyjabian ·
Wonder what will happen to steemengine and the tribes when smt are implemented in mainnet.
properties (22)
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@krischik ·
$0.02
Good question.
👍  ,
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vote details (2)
@juvyjabian ·
Wonder what will happen to steemengine and the tribes when smt becomes live in mainnet.
properties (22)
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@ecoinstant ·
My [INCOME](https://steem-engine.com/?p=market&t=INCOME) token will not switch to SMT.  There will still be use cases for SE.
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@kennyskitchen ·
Umm... Did StInc not realize that the community has already fulfilled this years old promise, with Steem Engine. Nice try guys, but you're a little late. Once again, centralized organizations prove too slow and ineffectual to compete with self-organizing humans.
👍  
👎  
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vote details (2)
@nonameslefttouse ·
$0.33
Hey Kenny!  Long time no talk!  I think it has been about three years, *and we argued back then.*  LOL!

Those of us who embraced the community building powers of Steem Engine got a head start and these same communities that exist now will be able to tap into these SMTs as well, and benefit from the headstart.  It would be silly, in my opinion, to choose one over the other when really, it's all the same and these communities can benefit from both.  Not much benefit in taking sides, creating teams, red vs blue and all that other yadda yadda yadda.  Self-organizing humans are great until they start dividing.  *Know what I mean?*
👍  
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vote details (1)
@raycoms ·
The problem is that steem engine runs on a centralized server, which is not all that save
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@knfitaly ·
https://tse1.mm.bing.net/th?id=OGC.0407645d12b4fb784f4e27652c96deba&pid=Api&rurl=https%3a%2f%2fmedia.giphy.com%2fmedia%2f12d135APsgPfO0%2fgiphy.gif&ehk=jT16h1H5VQSyUqqzm92i2Q
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@amico · (edited)
https://www.youtube.com/watch?v=C9Pw0xX4DXI 

#sbi-skip
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@inertia ·
https://www.youtube.com/watch?v=l2hCFMLvLDI
👍  
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vote details (1)
@knfitaly ·
# Frau Blücher!
https://tse1.mm.bing.net/th?id=OGC.49f77be98561c17f12187c229dd33a3f&pid=Api&rurl=https%3a%2f%2fmedia.giphy.com%2fmedia%2fl1BgQSADKzoju6bBe%2fgiphy.gif&ehk=dDDLNJfX7K3KxcdOCs7d%2fw
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@knowledges · (edited)
$0.23
I am so happy to see this update. This is indeed good news. 

Question: For token owners who might want to switch from Steem-Engine token to the Main SMT or simply just want a token name reserved, would Steem inc give room to reserve a token name before an HF?
👍  , , , ,
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vote details (5)
@ecoinstant ·
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
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@lawtop1986 ·
Through your article or content, I have learned new things. Good work.
👍  ,
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vote details (2)
@lextenebris ·
$0.12
> Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies that "just work".

I don't know about anyone else, but this line in particular fills me with dread.

_"We couldn't actually make money by being a place where people create and share interesting things in exchange for rewards, so we're going to put that aside and focus on selling the mechanisms to make coins which don't even have arbitrary backing."_

That is a terrible place to be.
👍  , , , , , , , , , , , ,
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vote details (13)
@andrarchy · (edited)
I totally get why you feel this way, but it's not at all what we mean. Content sharing and rewarding is still going to be a huge part of Steem. But in order to make content rewarding work even better, different communities and organizations need to be able to determine for themselves what is valuable and what is not. In order to do this, they need their own token which symbolizes their unique subjective valuations. Another benefit of this is that the added experimentation can help inform the base token and layer.

But while we were thinking about these solutions, we realized that there was no technical reason to limit these tokens to the use case of content sharing and rewarding. That would be an arbitrary limit on what Steem can be used to do. An SMT can be used to solve any of the problems people have been claiming blockchain can be used to solve, but which are limited by long/variable transaction times and transaction fees. 

In short, I wouldn't say that the role of content sharing and rewarding is in any way diminishing. In fact, it will be getting a huge upgrade. But at the same time the role of Steem as a financial layer that can add tremendous value to the global economy is increasing as well. Since this wasn't something Steem was used for in the past, the delta is larger.
👍  , , ,
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vote details (4)
@dana-edwards · (edited)
Steem needs a derivatives platform built from SMTs. Start with a stable token at least as good as multi collateral Dai. Figure out how to do what Compound is doing, and add compound interest on top of that stable token. Let the stable token be used for rewards and for people to store their life savings. This would be a start to saving Steem.

How can we expect anyone to put their life savings in Steem Power or Steem when the price isn't stable? If I earn wealth on Steem and don't immediately take it off before the whales sell then I lose it all. I know this from experience already which is why I'm one of the people saying we need a stable token and derivatives.
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@ecoinstant · (edited)
This is an amazing comment.  Thank you.  

I like especially how this comment shows how silly it would be to split the econominncs of Steem power with the Resource Credits of Steem Power.  They are both valuable, viable and important uses, and I do believe STEEM would be poorer for a split if it ever happened.  

#STEEM is the SPINAL COLUMN of an entire world of possibilities!
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@fredrikaa ·
> In order to do this, they need their own token

I completely disagree and also find it worrisome that you seem to assume this to be taken for granted or obvious.

It is only true if you assume that proof of brain is going to be used in a community, or that it is a good idea to begin with (fewer and fewer seem to accept this notion). Communities only need to be able to determine their own distribution rules. This does not require a new token, and imo it would benefit everyone more if it instead used STEEM.
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@freebornangel ·
![3HaJVw3AYyXBBQkN3tCkhE2EjPPNPEEY7rZsT4k8E4aPBLjjU4T3hN4b4jQMDrkJW4bFBpk6VQNnCRnZqK2byi3ouxMgBvEX2LdjoTU.png](https://cdn.steemitimages.com/DQmdv89wmUv2zPEVK4iVbMPjDzKnDkoPLaLWk4gk3VViYWx/3HaJVw3AYyXBBQkN3tCkhE2EjPPNPEEY7rZsT4k8E4aPBLjjU4T3hN4b4jQMDrkJW4bFBpk6VQNnCRnZqK2byi3ouxMgBvEX2LdjoTU.png)
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@lextenebris ·
$0.55
That seems a fair response, but I have some issues with it and with choices that had been made along the way.

> But in order to make content rewarding work even better, different communities and organizations need to be able to determine for themselves what is valuable and what is not. In order to do this, they need their own token which symbolizes their unique subjective valuations. Another benefit of this is that the added experimentation can help inform the base token and layer.

That's lovely, but it didn't take two years and the planned implementation of SMTs to do any of that. If there was a real call for and interest in promoting content creation and distribution in ways that have been proven to be successful, what we needed was Communities implemented in a way which was transparent and usable on the blockchain. Simply providing the tools for user self organization and proper curation would have sufficed, taken only a few months, and been long done by now.

Moreover, I find it interesting that there is suddenly a recognition that "organizations need to be able to determine for themselves what is valuable and what is not" in light of the fact that the entirety of the Steem blockchain and its reward mechanism is based on the top-down assumption that the more people who "think something deserves reward", weighted by stake, is better than any small number of people deciding where that allocation should go. This particular change in policy and vision represents a much larger pivot than anyone is actually going to talk about because it's an essential repudiation of the underlying expectation of Proof of Brain on the Steem blockchain.

I don't expect that discussion to happen.

> An SMT can be used to solve any of the problems people have been claiming blockchain can be used to solve, but which are limited by long/variable transaction times and transaction fees.

Which, according to the traditional in-house propaganda of Steemit, don't exist as problems here. After all, Steem itself has been promoted as a blockchain with extremely short transaction times and zero transaction fees. If the blockchain as a whole hasn't been sufficiently valued because of those traits, why should a cavalcade of alt.coins based on the blockchain be considered any more valuable? There's a little bit of Three Card Monte going on in this description. It is entirely upbeat without actually supporting a reason for it to be.

If an SMT can be used to solve any of the problems people had been claiming blockchain can be used to solve, then Steem itself can be used to solve any of the problems people have been claiming blockchain can be used to solve ? and you are stuck explaining why that hasn't happened.

> In short, I wouldn't say that the role of content sharing and rewarding is in any way diminishing. In fact, it will be getting a huge upgrade. But at the same time the role of Steem as a financial layer that can add tremendous value to the global economy is increasing as well. Since this wasn't something Steem was used for in the past, the delta is larger.

I would be a lot more sanguine about taking this at face value if I hadn't already lived through the last couple of hard forks, both of which made things much, much harder and much, much worse for content creators ? deliberately so, to judge from the discussion around and between developers and witnesses regarding the motivations for the changes that happened. The role of content sharing and rewarding has been being deliberately cut, and if you need one shining example, look at the rewards for curation versus creation that we are now dealing with. The creators hardest hit are the ones down at the bottom who are spending their time creating content and thus don't have time to sift through the vast rafts of crap that it takes to do what is considered curation on the platform.

This is very much a case of "don't tell me that it's raining."

How is any of this, outside of hollow corporate speak, supposed to be an improvement for "the role of Steem is a financial layer that can add tremendous value to the global economy" in any way? The actual infrastructure is the same. You might could make a good argument that the time spent pulling the server apart into smaller pieces which can run in RAM was a good investment of time, and I might even agree with that. However, all of this jazz hands around SMTs and how they are supposed to improve the situation for anyone, especially communities, is bad performance art.

Ultimately, as it stands, SMTs are one more time sink for people who have extra funds to buy their own custom coin name and attach it to a forum. With that comes a vast amount of "no one actually understands how coins are supposed to work, what they are supposed to really do, and how interaction will occur, and ultimately the only impact will be moving stake between big stakeholders."

SMTs needed to be decoupled from the idea of Communities two years ago, when it might have made a difference for creators and consumers to be able to find each other and thus mutually make content creation and content consumption rewarding at a real level. Now they, like Tribes, just look like one more way for whales to play whale games and skim a bit of money off the top on the back of creators.

And that's a terrible shame.

The really funny thing is as much as I disagreed with Utopian.io in terms of public policy and sometimes even underlying philosophy, from a technical point of view I thought that the way they were able to break out their own community, with its own technical infrastructure, present a filtered view of the blockchain, and manage what ultimately was real curation of content was the most promising thing in that field that we've seen. And then, rather than have that approach taken up by Steemit as a way forward to build actual Communities, it got burnt to the ground.

That is a real problem and it's one that has been very long-standing.

Whoopee, we can make alt.coins on the Steem blockchain, catching up to Ethereum of several years ago. And it's done them so much good.

From the perspective of creators on the platform, things are not looking better. The real problems that they have been fighting with continue to get ignored and if they are seen, hand waved away as unimportant while the platform continues to forget that no commodity has a value unless it's backed with something that people want.

If the goal of #newSteem is to fully fall into understanding that what people really want to pay for is getting votes and rewards for voting and not creating content that people like and want, let's just say that outfront. Let's be honest. It will make the whole process much less painful. If the goal is to actually provide value that people can find, consume, and reward ? then let's do that, and stop laying a smokescreen.

Over the years, I have been alternately impressed and horrified by the technical acumen of those who are working on the Steem blockchain in an official capacity. But I have more consistently been horrified at their inability to understand and commit to the policy the system is supposed to implement. From the obsession with "don't cash out!" which essentially just means that creators shouldn't actually get use out of the funds that they receive to the absolute obsession with avoiding anything like what has been proven to be a functional and useful structure for social media platforms over the last decade, the overall movement has been worse than disenchanting or alienating ? it's been self sabotaging.

That appears to be continuing.

I get it, you would like a bunch of people with disposable income to drop some of it into the gaping morass of value that is the Steem blockchain, which painfully squandered its value in relation to other cryptocommodities by deliberately ignoring the one thing that gave it a backed value ? creator content. So because you drove away the majority of creators who didn't want to just create things for a single audience on a single topic, you want to move on to selling votes and alt.coins as the New Hope. I don't want it, but I get it.

If Steem itself did not act as a financial layer that brought tremendous value to the global economy, splintering it with SMTs will not make it more valuable or viable. If the technology it brought to the table didn't get leveraged, it's not going to. SMTs do not change the essential problem of cryptocommodities in general and Steem in particular ? that they need something to sell in order to be worth trading.

Perhaps you think SMTs will create a channel through which you can sell Communities ? while ignoring the fact that the competition has moved on without you and done it for free. If I can pay to create a Community and still be stuck with reward distribution as it is done on the Steem blockchain within that Community, how in the world am I supposed to compete with the fact that there are actual free-to-create Communities out there where people can share content of common interest, free of the ridiculous overhead of trying to understand Steem blockchain mana/RC/upvote pool/downvote pool/vote percent/etc./etc.? I can't even provide the convenient lie of "there's a chance you will make big bucks, or even moderate bucks that you can spend on a regular basis."

Because it just ain't so. In large part because of decisions made by core Steemit Inc. developers about how the blockchain works.

I appreciate the fact that you've taken the time to reply to me, but I wish that you had taken the time to actually reply to the issue I pointed out.

This is a bad place to be, and I mean that on multiple levels. SMTs aren't going to change that and that's a terrible shame.
👍  , , , , , , ,
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vote details (8)
@northmountain ·
The marketing-speak is strong with this one.
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@shortsegments ·
Hi
Does this statement from the above news release mean a major change in the platform is coming?
>Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies that “just work.”

Thank you
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@shortsegments ·
Thank you for clarifying the statement.
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@shortsegments ·
Thank you for clarifying the statement. 
I have another question. How are SMTs different from SE Tokens?

Thank you.
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@dana-edwards ·
Exactly. Useless coins and nothing backing them? Its one thing if SMTs are backed by securities or if we have just one working stable token as a proof of concept but we don't even have that so it's hard to know what they'll do with SMTs. You can do derivatives with SMTs but I don't see any proposal planning to offer derivatives on Steem.
👍  
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vote details (1)
@enforcer48 ·
$0.03
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vote details (11)
@fknmayhem ·
Not really. Content (also art) have always been philanthropic in their survival.

Add to that the inflationary downpressure factors. 

Proof-of-Brain is still an integral part of SMTs, and always was ever since first SMT white paper. Even if in itself it isn't part of the Steem white paper (only of the bluepaper).
👍  
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@dana-edwards ·
Who told you that? Journalism? Books? Movies? When has this been the case? Confusing your post.
👍  
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vote details (1)
@lextenebris ·
$0.59
> Not really. Content (also art) have always been philanthropic in their survival.

That's not even true and I'm mildly insulted that you tried to pull that one on me. We literally have 4000 years of human history, several hundred with growing experience of how people in capitalist economies with free markets engage with creators who make content, which says just the opposite. We have a massively thriving music industry, we have a massively thriving entertainment industry, and it's not because they have depended on philanthropy for their survival.

It's because they sold something other people wanted and were allowed to do that selling and buying.

Steemit apparently hasn't been selling something that people wanted to buy, and that's not a failure of the philanthropic urge ? it's a problem of not having something that people want to buy, and then creating more pressure on creators to do something else other than create and share that content.

So that's just wrong.

> Proof-of-Brain is still an integral part of SMTs, and always was ever since first SMT white paper. Even if in itself it isn't part of the Steem white paper (only of the bluepaper).

And to continue the theme, that just doesn't work. Proof of Brain does not work. We know this because we've looked at the reward patterns on the Steem blockchain over the last several years and POB just was not and is not part of the way that rewards occur. As an element of the way the system works, POB doesn't.

We have widespread market interaction by bots, and while they have taken a little bit of a hit lately ? it's more of the nature of a minor ecological shift that will rapidly be overcome once more by the next generation of bots. It is still far more valuable to play bot games than it is to make content. It is still far more valuable to engage in a gambling minigame than it is to make content.

That's not proof of brain. It never has been.

Which is an orthogonal issue, unfortunately.

The upfront issue is that Steemit Inc. couldn't make a solid living even when they had all the advantages of the world in courting content creators with messages which centered on "come make big bucks!" Now the idea is "come pay us big bucks for the opportunity to build your own alt.coin which neither you nor anyone else will actually understand how to tune or make do what you want to to build a Community so that you may can make big bucks!"

There is a deep and painful logical abyss lying right at the middle of that. It would be nice to see more people address it.
👍  , , , ,
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vote details (5)
@lichtblick ·
Good news. Resteemed :-)
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@lordbutterfly · (edited)
Im hoping you guys have some sites in line to adopt this.

There is something i always hoped for and that was that steemit inc. would create a facebook type comment section that could be easily placed under a post on various websites that utilize the steem blockchain and reward the commenters.

That would be a major step towards mass adoption and something that would easily rival what facebook did.
Why hasnt anyone tried that?
Its exactly the same as what facebook did, but you can earn $$$ unlike with facebook. 

The problem with SMTs will be the value proposition. The token only has worth if it has utility.
Steem rewards contributions based on proof of brain. Smts will have to go beyond that since Steem itself hasnt nearly achieved its potential.
👍  , ,
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vote details (3)
@raycoms ·
The advantage of SMTs is that you can kinda see it as a new start. You got a limited quantity of SMTs which are only used to reward a certain kind of content, then you have to create value for this SMT in order for users to want to receive it.

While Steem is so much more around it.
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@lordbutterfly ·
Sure. But we have seen something similar with steem engine. 
Smts will be basically the exact same thing from the consumer side. 
Creating value is the hard part. 

My point is that Steem itself should have been what SMTs are marketed as. 
SMTs are simply ERC20s from a consumer point of view. 

My question still stands... Why hasnt anyone created something similar to what facebook has in its comment section.

Posted using [Partiko Android](https://partiko.app/referral/lordbutterfly)
👍  
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vote details (1)
@tonygreene113 ·
$0.04
Is that sort of along the lines of what the Brave Browser is doing with allowing twitter users to be "tipped" for their tweets?
👍  , ,
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vote details (3)
@lordnigel ·
$0.15
https://media.giphy.com/media/5avZzXSxYSf7y/giphy.gif
👍  
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@gangstalking ·
On steem?

Self proclaimed community watchdogs are actually hacking and stalking people.

This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom. 

My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.

This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.

With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.

This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.

Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
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@majowonline ·
Let's move forward. Forget voting 
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@manniman ·
o slick
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@martie7 ·
Long awaited news. Glad to see that!
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@matt-a ·
$0.25
Excited to see how all this plays out!  w00t!
👍  , , , ,
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vote details (5)
@michealb ·
> cryptocurrencies that “just work.”

you speak my language :)
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@moon32walker ·
$0.25
Is this the real life? 
Is this just fantasy?

SMTs are finally seeing the light of day after years of development. Good job team! Test them good!
👍  ,
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vote details (2)
@cardboard ·
$0.03
Oooh, I read your comment in Freddy's singing voice and the last 2 lines didnt fit :(
👍  , ,
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vote details (3)
@jeffjagoe ·
im with ya
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@nonameslefttouse ·
*Make them fit!*
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@movie.mag ·
👌
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@nealmcspadden · (edited)
Flagged for copyright infringement
👍  ,
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vote details (2)
@ammonite ·
Can I ask which copyright was infringed?
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@jarvie ·
it's a pretty old image are we sure it's still copyrighted?
Also they are not making money from it if you check the beneficiaries
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@ecoinstant ·
They should have put Mel Brooks as one of the Beneficiaries!
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@nikoz84 ·
Great work team ;)
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@powellwoods ·
great
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@rajuislamraj ·
This is good.
👍  ,
👎  ,
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vote details (4)
@redpalestino ·
@btc-echo
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@ronel ·
##### Just 3 little simple questions: #####
1. How does SMT compete with other blockchains similar to SMT like ERC-20 and many others?
2. What's in SMT that makes a crypto billionaire buy steem?
3. Would you consider SMT as the convincing factor of steem or its already been a thing of the past?
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@blake.letras ·
SMT is less like ERC20s and more like Bitcoin Cash's SLP tokens. The point is that they are easy to make and use for non-developers. ERC20s can also be made by non-developers as well, but many average joes do not know that. 

ERC20s can do almost anything a developer can think up. SMTs will be very limited, but able to be created without spending large investments on development.
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@rymlen ·
There we go! I sure hope this helps to increase the value of Steem from its epic low point now!
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@sanctuspierre ·
I somehow agree with you @steemitblog that _steem will be the critical computational layer supporting all the different tokens._ but somehow your wordings are getting compromised on my side,  is it that _STEEM_ and _steem_ are two different things here?  I think that they were basically established to serve the unique functions for which they were introduced. 
**Pls can you clarify me on the difference between STEEM and steem and is each assigned a peculiar function to admit?**
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@savetheturtles ·
Who will buy a token under the Steem umbrella when no one even wants Steem including exchanges? That is like the bank in Venezuela printing coins that fall under their currency. When no one wants the currency in the first place due to hyperinflation. This is just a last ditch cash grab for your sheep who sniff the butt up ahead and jump off the cliff with their wallet. Nothing more than followers, yes men, and mindless zombies.

G'day mates!
👍  
👎  
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vote details (2)
@sepracore ·
$0.53
Individuals/companies with known Steem-Engine tokens, aka STEM, AFIT, LEO, PAL, etc should have first dibs at creating those SMTs in my opinion. Otherwise it will just be a huge clusterf%$k at the beginning with people staking claims to all the known coins just to hold the names hostage and cause massive confusion.

Along these lines, are certain coin names on a blacklist? Like Bitcoin, etc. I remember someone made a Steem-engine bitcoin and it caused some issues if I remember correctly.  Avoiding these issues should be a huge discussion otherwise everyone is going to try to steal grandma’s savings. I am not sure what the fee to create an SMT will be but I vote that it should be relatively high to avoid just a boat load of Shitcoins and behavior that we really don’t want to see. For instance, COKE and PEPSI coin should not be one of the first two coins created if you get my drift.
👍  , , , , , , , , , , , , , , ,
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vote details (16)
@coininstant · (edited)
Yeah there should be rules, like if you try to register COKE you need to be the company! What has to happen is steemit needs to register the lot of them and work with the companies later and make a killing selling them their coin! Or they could be nice and hold the names for the real companies if/when they do decide to need a coin! OMG this is going to drive STEEM to the MOON one more time! lol
👍  , ,
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vote details (3)
@ecoinstant ·
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
👍  
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vote details (1)
@sepracore ·
I am glad that reduces squatting rights, but how will the internal market work? Will trades be based on these numbers? Because that seems not very user friendly. What happens if I make SMTs with the same short name (e.g. HUNT, PAL) and place them on the open exchange. Will people have to know that my PAL is a different string of numbers vs the real PAL. Do you see where that gets very confusing and would turn people off? I am assuming this is not how this will work, so I more bring it up so I can get some clarity on how the system will work in real life. If this is how it will be designed, then I think opening up the discussion is important.
👍  
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vote details (1)
@florian-glechner ·
Totally agree.
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@musicvoter ·
agreed!
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@shuja ·
Blockchain supports it but we need some tools to move.  I love it
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@socky ·
> STEEM is the critical financial layer providing transferability, liquidity, and access to exchanges.

Not true if exchanges are dropping STEEM. When Exchanges refuse to run a STEEM node, then SMTs running on STEEM blockchain have no chance to get listed on those exchanges. What will you be doing to prevent further STEEM delisting and get STEEM added to new exchanges?
👍  ,
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vote details (2)
@savetheturtles ·
Shh don't ask real questions. They will blacklist you. However, YES.
👎  
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vote details (1)
@sofiripepple ·
 It is an honour for steemit to be the bedrock of this token and it would not be let down
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@stealthtrader ·
$0.20
>After SMTs, every website and web application will be able to have their own powerful cryptocurrency customized to meet their own needs and maximize their own business and social objectives.

Boom!!
👍  
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@dana-edwards ·
Use it as collateral for a Steem stable token.
👍  
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vote details (1)
@steemitboard ·
Congratulations @steemitblog! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x60/http://steemitboard.com/img/notifications/topcommentedday.png"></td><td>Your post was the most commented on one day</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@steemitblog) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=steemitblog)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>


To support your work, I also upvoted your post!


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steemfest/@steemitboard/the-new-steemfest-badge-is-ready"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmRUkELn2Fd13pWFkmWU2wBMMx39EBX5V3cHBEZ2d7f3Ve/image.png"></a></td><td><a href="https://steemit.com/steemfest/@steemitboard/the-new-steemfest-badge-is-ready">The new SteemFest⁴  badge is ready</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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@theguruasia ·
@steemitblog,
Lol I saw this while surfing at FB :D Okay I am preparing to move there. One of the biggest update I was awaiting for!
$trdo
(Will move TRDO to SMT too)

Cheers~
properties (22)
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@trendotoken ·
Sorry, @theguruasia you’ve reach daily limit of 10 successful [TRDO](https://steem-engine.com/?p=history&t=TRDO) calls!
Please try again tomorrow! 

<b>"Call [TRDO](https://steem-engine.com/?p=history&t=TRDO), Your Comment Worth Something!"</b>
---
<sup>To view or trade TRDO go to [steem-engine.com](https://steem-engine.com/?p=market&t=TRDO)
Join [TRDO Discord Channel](https://discord.gg/wySP8T9) or Join [TRDO Web Site](http://www.trendotoken.info/)</sup>
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@theguruasia ·
@steemitblog,
Can you please write step by step guidance about how to join testnet for SMT? I think it's essential for people who wish to try & test this!

Cheers~
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@timmykmma ·
use your crypto to buy mobile TopUp ---  www.kandimobile.com
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@toukirahmed ·
This is good news.
properties (22)
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@trendotoken ·
Congratulations @steemitblog, your post successfully recieved <b>0.011862</b> [TRDO](https://steem-engine.com/?p=history&t=TRDO) from below listed TRENDO callers:<br>

>	<sup>@ekushya earned : **0.007908** [TRDO](https://steem-engine.com/?p=history&t=TRDO) curation </sup> 

---
<sup>To view or trade TRDO go to [steem-engine.com](https://steem-engine.com/?p=market&t=TRDO)
Join [TRDO Discord Channel](https://discord.gg/wySP8T9) or Join [TRDO Web Site](http://www.trendotoken.info/)</sup>
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/steemitblog__smt-testnet-is-live.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
👎  
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vote details (1)
@usdcriptocine ·
Interesting news
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@vannfrik ·
@steemitblog Is there possibilites for integration with Shopify?
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@vittoriozuccala ·
The most important goal to reach is "Steem to the masses".
I really hope we can obtain this goal.
It's important for this blockchain and also for their users.
Go to the moon SMT!
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@whack.science ·
Good jump. Let's push Steem where it needs to be, together!
properties (22)
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@wongshiying ·
@tipu curate 
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@tipu ·
<a href="https://tipu.online/curator?wongshiying" target="_blank">Upvoted &#128076;</a>
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@yeswecan ·
I have a genuine interest in the SMT and the possibility they may provide on a much wider scale than just to the benefits of the Steem chain itself. It is possible some projects will bring much more then they originally drain if supported. (Different topic though)

Is there an option for a small community to be a part of this testing, by experimenting with the running of a token on a small scale to catch some bugs which may be hidden in other circumstance?

Tom.
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@zen.fit ·
Steem for the win
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@zmx ·
!sbi status

#####  <sub> **Sponsored ( Powered by [中国银联](https://bit.ly/2oJxrxo) )** </sub>
<center>[![银联云闪付](https://s2.ax1x.com/2019/10/18/KeloB8.png)](https://bit.ly/2oJxrxo)</center >
properties (22)
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@sbi3 ·
$0.18
Hi @zmx!

* you have 15 units and 3 bonus units
* your rshares balance is 228971551106 or 0.081 $
* you need to wait until your upvote value (current value: 0.027 $) is above 0.038 $


Structure of your total SBI vote value:
* 79.89 % has come from your subscription level
* 17.20 % has come from your bonus units
* 0.00 % has come from upvoting rewards
* 2.92 % has come from new account bonus or extra value from pre-automation rewards
<br>
Take Control! Include `#sbi-skip` in your text or tags to have us skip any post or comment.
👍  , , , , , , , , , , , , , , ,
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vote details (16)
@zua-khan ·
Great news 📰, i restemm
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@zulaoyun ·
Good
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max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id91,683,802
net_rshares0