8 weeks were supposedly missing in order to finish smt development and launch the testnet. I find it really shitty to cancel SMTs so close to finishing it. Finishing it could have multiplied the value of Steem 20x....
Now after announcing the stop of smt development and also announcing that steemit Inc will have to keep dumping steems without innovations coming anytime soon, they will be forced to dump everything BELOW 10 cents ... Perhaps 1 cent. But I keep my conservative target of 10 cents for now.
The decisions being made by @ned regarding liquidity management were horrible in the last 8 months as it seems.... But the decisions now taken could end steemit Inc or Steem. I for now who was a fierce supporter and recommended Steem to friends will have to warn everybody of this possibility and not take Steem prices below 10 cents as a gift, but as a high risk investment which most likely will fail.
You think you can make more informed decisions than the CEO of Steemit Inc? The tunnel-vision focus on SMTs has been a mistake from the start, as I have said time and time again.
Multiply that 8 weeks by 2, because ETAs that far out are always underestimated. Now multiply it by two again to fix the bugs that you weren't expecting. Now multiply that by four because you just lost the majority of your staff.
SMTs are over a year away.
You forget that SMTs are already a year delayed. The Steemit team said that this time they were so confident Steem could be launched at that date that they even gave the exact day. Jan 24th. I said to myself, ok, a year later... at least now they commit to delivering it...
Now, I wonder if we will ever see them... I lately read that they have over 60 million Steems still around... Could they not have finished SMTs first?? 2 months of pay surely will not be more than 2-3 million... After that, theire stake could be worth 500 million again. Now the price will keep dropping and no one will want to buy in... as Steemit Inc will have to keep dumping until the bitter end.... and everyone knows that.
I did same with my friends ('steem can fail' that's absurd to me), but now I tell them, invest at your own risk lol
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I don't agree on the SMTs. They are nothing special at all and used already on many other big chains (like Tron, EOS etc). It's time for people to realize, that SMTs are just a fancy name for tokens on a blockchain and these won't save Steem nor Steemit.
The only thing that may help now, is if a big player like Tron buys Steemit and let it run on their blockchain. This is what's going to happen when Ned realizes, that the battle is lost and to win the war, he has to join forces.
https://www.stateofthedapps.com/rankings
The majority of dapps in the top 10 is held by Steem at the moment... I think as soon as Steem has SMT's Steem will have what EOS and Tron already have and what holds back the valuation... Without SMTs forget it... I agree...
Well, this list is deceiving and doesn't feature most dapps that are heavily used. Take Tronbet - it has about 400k transactions alone (had days with 1M+) and more users than Steemit. This list only looks good for Steemit, when you remove the top dapps from other chains. Yes, most of them are gambling, but wait for some weeks and you'll see social media dapps shooting to the top there too.