SMT Testnet Goes Live: #Steem Ecosystem

At long last, the Smart Media Token Testnet is live. Developers may now build a project for their business on the Steem Blockchain. The testnet allows developers to run their project and look for bugs.

How will SMT’s change Steemit? I think once the SMT’s go live that Steemit will be a very different place. I think it will be a better place. The opportunity for entrepreneurs to tokenize their brand and their websites on the Steem blockchain will introduce an entirely new base of Steem users. Companies will be able to tokenize and monetize their sites using the Steem protocol and will be able to do so at a minimal cost. While these companies will be part of the Steem ecosystem, they will also maintain their independence by assigning their owns set of rules and rewards to their unique token.
The benefits to Steemit are obvious. Thousands of new users and an expanded user base insures more traffic. The demand for Steem power will increase as new token holders find the need for more resource credits in order to function on the Steem blockchain. The need for resource credits should result in increased investment in Steem and an overall incentive to power up.
I think many of us have maintained a somewhat myopic view of Steem over the past year. We’ve been focusing so much on Steemit that we have forgotten the bigger picture of bringing the entire internet world to Steem.
I think the implementation of Smart Media Tokens will force our community to focus on the bigger picture of the entire Steem ecosystem which has the potential to revolutionize the way we produce and view content on the internet.

Advertising on Steemit?

I recently attempted to run an advertising campaign on Reddit. The campaign was a link to earning EOS by watching a few educational videos. Considering Reddit is the home of multiple forums on cryptocurrency, you would think the platform would be open to this type of advertising. My ad was rejected almost immediately.

As a result of this experience, I began to think about advertising on Steemit. What would advertising without bots look like on Steemit? Steemit has a built in crypto smart audience. Having a receptive base with a knowledge of blockchain and cryptocurrency should be an attractive audience for any crypto related project. Steemit is unique in that all of the Steemit users are dealing with crypto and blockchain on a daily basis. I would like to see some kind of option to opt in to advertising on Steemit.

Another possibility is offering advertising which would be paid for in Steem and then burning that Steem to help raise the price of Steem.

Please share your thoughts on the subject.

SteemWorld for Steemit Stats

One of the most useful tools I’ve found for navigating Steemit is a site called SteemWorld The site includes all the stats you need to use Steemit. You can see your current voting power. You may also see the value of your vote at 100% and various other voting powers.


One of the most interesting tools on the site is the simulated Steempower tool. This tool enables you to enter any amount of Steempower in order to see how much a vote would be worth at this power at the current Steem price.

You may also see stats concerning Steem power earned by both curation and author rewards. The mentions tab will show you when and where you were mentioned on Steemit. You may also see your reputation score.

As you gain more Steempower and curate on a daily basis, you will find this site invaluable to keep up with all of your voting stats.

How Steem Could Hit a $500 Billion Valuation

Stephen Kendal compares Steemit to Facebook. Kendal explains why a future 500 billion dollar valuation of Steemit is quite possible. As a new generation of investors pour more money into the crypto market, will stock certificates be replaced with cryptocurrency?

We are already seeing the ecosystem of Steem expand. Every week we are seeing new dapps developed for the Steem Blockchain. Whether we are posting on Dtube, Dsound, Tasteem, or any other decentralized app, we are still a part of the Steem ecosystem. As we watch Steemit add various communities and niches, Facebook seems like a very stagnant socoal network. The ever changing nature of Steemit makes the Steemit community all the more exciting as we watch our once small community grow.

How Steemit is Growing and What that Means for Us

During the “old Days” of Steemit.com, posting on Steemit was much simpler. We really didn’t have that many options. You wrote a post and shared it in the hopes that someone would vote you up. You voted until your voting power was too low and interacted as much as possible with your fellow Steemit posters. This was barely 2 years ago and we have seen dramatic changes. Obviously the price has increased considerably which makes it more beneficial to post. The use of bots has skyrocketed and the interaction has diminished somewhat.

First of all, so many people are delegating their Steempower to either bots or new Steem projects. We also have a multitude of platforms to post on and enjoy.

A typical day might include posting a video on Dtube, updating your podcast on dsound, and searching for the coolest products on Steemhunt. You may share a meme with your followers on Dmania and livestream a video game on Dlive. You can share a few thoughts on Zappl, add a photo to Steepshot, and write a quick post on Busy. You may need to check out the latest development updates on Utopia as well.

To relax, you might try to win a little Steem by playing the Steem based Super Eight Ball on your Android device and then share the results using your Esteem app.

After you’ve completed all of these activities, you need to share them on your Blog which uses Steempress to automatically post to Steemit from your WordPress blog.

I share this imaginary day to make the point of “Wow, look how much we have grown!” When you take the time to explore all of the new decentralized apps on the Steem blockchain, the sheer number of available activities based on Steem is quite astounding.

I’m certain I have left some new platforms out, so please add them in the comments. In short, in spite of many ups and downs, We have come a long way! This is just the beginning.

Binance Introduces Fiat to Crypto

Binance will add Fiat to crypto trading pairs

Binance, one of the most popular Cryptocurrency exchanges in the world, has plans to enable their customers to buy Cryptocurrency directly with fiat currency. The complicated process of buying cryptocurrency has been an obstacle for many potential investors. Instead of buying a currency like Steem directly, one must purchase Bitcoin or Ethereum first through companies like Coinbase. Once the Bitcoin is purchased, it must then be moved to an exchange to buy Steem or whatever cryptocurrency is desired. Throughout the entire process, the customer is paying fees and experiencing long delays before they can even begin to purchase the coin they are interested in. Recent moves by Binance may change this entire process.

Binance has moved their operations to Malta which is fast becoming one of the most “Crypto friendly” regions in the world. Originally headquartered in Hong Kong, Binance had major concerns over the often unpredictable regulations imposed on Bitcoin and the cryptocurrency markets by China.

Binance is working with local banks in Malta to set up fiat to crypto trading pairs. This action will enable investors to buy cryptocurrency directly with US dollars or Euros without having to go through Bitcoin first. The ability to buy directly with fiat is sure to bring in many investors as the entire process will be so much easier.

This development will be a welcome change to many who have experienced less than stellar treatment from the banking establishment. Early 2018 saw many banks ban credit card purchases of cryptocurrency. Some banks even imposed significant fees for debit card transactions as well. Coinbase also had a problem with merchant services double charging customers for many transactions.

The ability to buy cryptocurrency with fiat dollars and Euros will completely change the landscape of cryptocurrency investing. Get ready, Crypto is going mainstream whether the banks like it or not.