I don't get it, doesn't HF20 solve the sign-up problem and SMTs the whale issue you mentioned? Anyway, I'm glad you announced this before Sep. 25th. I was planning to go DLive exclusive then 'cause of fast sign-ups but I guess that won't happen now. I'll just move on to something else. The great thing about Steem is going somewhere else will bring your followers with you, no need to start over. ;)
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Yes you can issue your own tokens, that's not "only", that's a huge difference. Steem will continue to be payed out like it is now, plus it will also be part of the SMT rewards. Like with @steemhunt, you can earn both HUNT tokens and Steem with your upvotes. Now if DLive went with an SMT and did 1 person = 1 vote token payouts without 7 day limits, it would solve a lot. And steemit.com is losing its firm dominance on the Steem ecosystem. It isn't far fetched at all, you're going to see a new dominant dapp here in the near future. Now if DLive was on top with millions of users all upvoting their favorite streamers/video creators, everyone getting payed both in DLive tokens and Steem, it would make a big impact on Steem's distribution itself. 'Cause the problem is big accounts circle voting right now and not enough small accounts voting to make a difference. DLive with its account based voting as the main way to earn would consequently change the game for Steem as well in the background.
That's my understanding of SMTs anyway. :P
There is no reason why an SMT could not become hugely valuable if the app(s) it was created for became hugely popular. It's possible to design the distribution of an SMT in any desired manner from the outset. Every one of the problems mentioned by the DLive team could've been solved by the SMT protocol - except for bandwidth, of course, the ownership of which will be quite concentrated into whale hands for quite some time.
Exactly. The way Steem is payed out won't change, but SMTs can change the distribution. You earn Steem alongside SMTs. So if the masses started using any dapp using SMTs as its main payout method, those same people voting would unconsciously make Steem more evenly distributed. Making the potential whale circle jerking using just Steem harder and harder. A few whales can't offset a flood of minnows fighting against them.
It does solve the problem, it won't be easy to rape the Steem reward pool that way when you have masses essentially fighting against abusive Steem voting. The kicker is people probably will have no idea they're making life hard for the bad actors. They're just trying get their SMTs.
'Cause you're using it in the background as you're voting to get your SMTs. You're getting your SMT token, plus some Steem as a bonus. The two systems work in parallel. Like with @steemhunt, you get your HUNT tokens and some Steem for your upvotes. However Steem isn't the motivator for upvoting, HUNT tokens are.