A SMT will be exchanged through STEEM, so we won't have a pack of SMTs and STEEM only one of them. We will have STEEM, and after that a cluster of SMTs over STEEM. Market-wise, this will in all probability help interest for STEEM, as a token. 

Additionally, the SMT age system is far more mind boggling than only a token issuance on the Ethereum stage. When you dispatch a SMT, you truly dispatch a thin layer of Steem-application-forms over your substance, including your own particular prizes pool, your own particular swelling model, your own particular voting and curation calculations and your own vesting component. 

Hope this helps.

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Reading through [dragos's post](https://steemit.com/steemit/@dragosroua/how-to-deploy-your-own-smart-media-token-on-the-steem-blockchain-the-smt-white-paper-series-ep-one) the first thing that jumps out at me is this is very ICO focused. During the ICO period you need to buy Steem to buy the newly created token. So this will definitely raise the price of Steem. However, this is actually a bit disappointing since ICO's seem to encourage speculation and bubbles and I think it has a much greater potential.

Here is the way I think of it. But I could be way off.

Think of STEEM as the USD.

SMTs are goods and services. So if I own 10 shirts and 10 pants that would be the same as owning SMTs at the NY Times and Reddit.

What is the value of these SMTs is determined by the market. If you want to buy my 10 shirts we gage how much that will be based on the market.

So we get your question about the value of STEEM. You ask if it is a good long term investment. Well that probably depends on your plans with it.

Back to the USD. The USD gains and loses value all the time. If you are in America you don't really see this but let me give you an example.

If you wanted to buy something in Mexico 10 years ago it cost you about 10 pesos for each USD you wanted to spend (http://www.xe.com/currencycharts/?from=USD&to=MXN&view=10Y). Today that number is 18+. That means the USD has gained almost 100% value compared to the Mexican Peso. So if you wanted to retire in Mexico keeping your networth in USD would have increased your purchasing power almost 100% over the last 10 years.

Make sense?

Currently ICOs are being banned across the world and SMTs offer a new ICO platform over Steem? So now what happens to Steem?

I think you got it all wrong...
STEEM is the _gas_ just as similar as ethereum... Only there is no fee, which is better than ether...
the SMTs are TOKENS, not CURRENCY, you must understand the difference here, the currency is STEEM...
This should push steem to the moon...

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You raise a valid point.  I really don't have much to add to the actual discussion but I am definitely interested in where this may end up.  I am really vested in STEEM, not like some of the whales  but I hold a substantial amount of STEEM and would hate to see it get zipped.
### Just my two STEEMS Worth.![](https://steemitimages.com/DQmeqs2oi6h1JMYCpEgceLL4qtxTgjY3dk1Hg64VxuxSt55/image.png)![](https://steemitimages.com/DQmeqs2oi6h1JMYCpEgceLL4qtxTgjY3dk1Hg64VxuxSt55/image.png)

>Additionally, the SMTs are still running off the Steem blockchain which is maintained by the witnesses who receive rewards for creating blocks with STEEM. If STEEM goes to 0 because everyone is now using SMTs then there's no more incentive to run witness nodes and the whole system stops.

In that case, the Companies implementing SMT will run nodes so that they have an influence in the system and keep the system running. But that would lead to a bit of centralization but the system will keep going on.

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I'm too new offer any incite, I am grateful that you are asking these questions and I am learning from them and the responses. Thank you for starting this dialogue. It's a lot for a new person to wrap their heads around, at least it is for me, a rank beginner on so many levels.

Try to look this way: 
Steemit inc. own millions of steem. Would they spend months of work to build something that will hurt their wallets? Do you need to know more?

In any case its an interesting oportunity to double/triple some earnings with steem currency :)

I too don't quite understand. But  some interest is being generated, given the 50% rise in Steem's value

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