RE: Smart Media Tokens: Introducing the Game Changer by the-alien

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smt · @the-alien · Sep 28 '17 (edited)

Haha I don't think it is Ned putting out coins.. It's more like Ned and the team are allowing everyone to create a currency to monetize their community, platform..etc. Which is both fascinating and admirable.


Suppose Medium wants to create a Medium Coin on the Steem Blockchain I hope you see where this is going?

Currencies are valued by the market, by how many people use them, not by governments like China that setting up an arbitrary number to value them.  

I think this isn't a tech issue here..

 it's an economy issue which raises an important issue.

Maybe we should pay more attention to explaining the economic side of things, the difference between the Federal Reserve and Blockchain, between Fiat and cryptocurrencies..

👍 tonygreene113

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@littlescribe · Oct 1 '17 (edited)

No, I'm pretty sure the white paper makes it clear this is a Steem-based coin for people to use on their own websites. It increases the value of steem, while also giving others a chance to start their own steem-like community. The technical aspect is already built into the coin. I wrote up a thing on the economic side of it [HERE](https://steemit.com/cryptocurrency/@littlescribe/smart-media-tokens-smt-explained). If I'm way off, then I'll stand corrected.

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@the-alien · Oct 1 '17

I'm a hundred percent lost haha. I was just answering the question you were asking in the comments, on other people's comments on this post, and also on other posts.

So I answered that question and that question only.

So I don't know if this comment was meant for someone else? "*No, I'm pretty sure the white paper makes it clear this is a Steem-based coin for people to use on their own websites."* I never said the opposite, not only that I even named examples in the post: Medium, Mashable, Rolling Stone..

Rest assured that nobody is doubting that, as I said, even examples are listed, people can of course use it for their own website.

Hope that  helps.

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