Steemit Smt's: Price Rise/Appics/Steemitocracy

Hey you, welcome back to the channel. And guys, today we're going to talk about a subject that many of us would like to talk about if we're Steamians, and that is the rising price of Steam. So Steam is climbing up, uh, much like many of the other altcoins in recent times have climbed up alongside with Bitcoin. But, um, what's, uh, very interesting about Steemit in particular is that, uh, Steemit has, uh, steadily risen even when Bitcoin, uh, hasn't over the last week. Uh, now that might be due in part to Steemit, um, being added to, um, several of the major 10 exchanges, um, and, uh Every time STEEM is added to an exchange, one of the 10 major exchanges, the value of STEEM can climb as it'll be now more available to cryptocurrency investors on other markets or other exchanges. So that's all been very interesting to watch and something we've been looking forward to. We like to see STEEM get added to the top 10 major exchanges. And as they implement the exchanges to accept STEEM, which is a little bit more complicated than other cryptocurrencies, the way STEEM is set up, you know, we expect the price of STEEM to rise even higher. In addition to that, topic over the last several months has been Smart Media Tokens, SMT, and I have done a video on SMTs, how they work, what they are, and there are many great explanations online right now. If you're not familiar with SMTs, I invite you to watch that— smart media tokens. But in a very simplified description, smart media tokens are basically going to be related, related to how ICO tokens launch on blockchains such as Ethereum. So using Steem as the— or rather using the Steem blockchain, you will be able to kind of create ICOs on Steem blockchain itself, right? Not only that, but you can actually turn your blog or website into an a duplicate version of Steemit or similar version of Steemit where you can have your own tokens that you can upvote the content or the comments of your, your blog visitors, your website members, various things like that. So this is quite appealing to many forum-type blog websites that might want to implement that particular type of system into their, their product, their sites. Epix is going to be one of the first major SMTs launched on the Steem blockchain. And Epix looks well suited for mass adoption. I mean, it looks really good. I was looking at some of the promotionals for epics. Um, and, um, it looks, looks well done. Uh, looks like something that, um, I would, you know, like to see, uh, for mass adoption for people coming into, uh, uh, the Steemit, um, social media, uh, phenomenon. Um, Epics is kind of similar. It got this similar feel to like Instagram. If I'm not mistaken, uh, I thought that there was an attempt on, uh, or app built on top of Steemit already that kind of had that Instagram feel. I think it was called Steepshot, and I used it a few times, and I thought it was pretty good, but it didn't seem suited for mass adoption as of, you know, um, uh, not like Epics. Epics seems to have a good marketing team behind it, and they've already completed their ICO. This is a banner on the Steemitocracy site, and I got this banner up here because I definitely encourage you all to invest, as I plan to invest in Epix as well. I like the look of it. I think it has a look and feel to attract many newcomers to cryptocurrency, especially those who don't really quite understand it, but understand social media and are part of social media and, uh, uh, can kind of use it as a stepping stone into the cryptocurrency world, or if they just want to, uh, have their own social media that they own and control, um, in this decentralized way, I, I think that'll be great. Um, and so I've been looking into some of the various, um, setups, like, um, or the structure of Epics and what they plan to do and the various stages. So I got this banner banner here because, uh, this banner, if you click on it, guys, um, you, you can sign up to Epix. And if you're interested in buying some of their tokens, I think they're only like, um, 15 cents or something like that, uh, you can use my banner here on the site and you will, um, uh, I'll get a little kickback and, uh, I'll reward you in some Miko's bonus tokens that we'll talk about a little bit later here. Um, so, uh, definitely going to be supporting Epix. I think it looks good. It's getting a lot of I think it's going to be quite attractive for mass adoption into, into the Steem blockchain. And I'm not gonna go into explaining what SMTs are in great detail, but, you know, again, just the quick description of it is it's sort of like you can do ICOs on Steem blockchain instead of like Ethereum, and you can use a similar source code that Steemit uses in order to produce a website like Steemit. Okay, and, you know, idea-wise, where some people have felt that this might hurt Steemit.com, Steemit.com can still profit on the trading of the Steem dollar, and as these these sites have to use, uh, STEAM to purchase bandwidth, um, and this, you know, uh, increases the value of STEAM, STEAM dollars. Um, you know, the idea of it is the value of STEAM will grow, uh, through use of the SMTs and various things like that. So, uh, sounds great. I like what I'm hearing. I'm like, I like what I'm seeing. And as we get closer to, uh, these SMTs, uh, taking off, uh, the idea and hope is that the price of STEAM will increase And I think this will have a great impact on the value of STEEM. So, STEEMatocracy, when SMT becomes available, the source code definitely wants to start purchasing a lot of STEEM and hold basically a great degree of, or great amount of STEEM power as STEEMatocracy will be using the STEEM. Blockchain. And, you know, what basically what Steemitocracy is, it's a voting system on Steem where we play this game similar to 21 where we try to match up the value of a post with the value of Steem and we try to get within a 21-point difference. And there are other videos that talk about Steemitocracy and various things like that. But we have right now, as you can see, an exchange token sale going that will last 27 days where we're going to be unloading about 50 million of these, uh, Steemitocracy coins that are called MECO coins. Um, and, uh, well, what these coins will do is they will be converted into STEEM power, and, uh, we will be able to upvote polls in order to get them, uh, to help get them closer to a consensus, uh, in which we kind of create this meritocracy of where votes— we try to help votes equal out. And there are videos on that. We'll go into that later. This is dealing pretty much with the exchange token sale and what Steemitocracy is hoping to accomplish. So basically, when the money is raised for Steemitocracy, Steemitocracy will implement the source code of the Steemit smart media tokens in where a lot of voting can take place around the site. Even though it is functional right now, we're using the Steam power that's available now to play the game. The idea will be to have the votes using the Miko's coins to pretty much equal out to a consensus that is formed, um, with the voting system on Steemit blockchain. Um, and, uh, basically, um, you know how that's gonna work. Um, you can see here where— how the coins are offered. Um, and it's saying that, uh, over 50%, uh, of our, um our budget here, or the funds raised, will go to, uh, you know, purchasing Steam Power to upvotes. And then the revenue that is gained from the use of the site, whether that be from advertising or posts, uh, we will take those funds and go back and buy back, um, uh, the Mikos Coins tokens that are now traded on the Waves decentralized exchange. Now, uh, it is important to note that How this will work is much like how a dividend works, how a company would declare dividends. These buybacks will only take part when there is revenue available, and when there is not revenue available, the MECO's coin that are used to bring a value that matches a consensus amongst Steemit voters in this type of meritocracy will be held or traded amongst, amongst holders of Miko's Coin on the Waves decentralized exchange. So we will be buying them back. As you can see, the purchase price here at 1 cent, and the buyback price will always be 2 cents, but that will be limited to the amount of revenue and funds available to accomplish that. And another very interesting feature is that besides taking STEAM tokens and taking, uh, as you can see here, WAVES tokens. We have an option that if you're a STEAMian who doesn't want to purchase the tokens but you have, um, STEAM to delegate, you can actually delegate STEAM to us. And you can delegate it here at a rate of where you'll get 435 Mikos Coin tokens to 65, um, uh, STEAM Power per week. So if you delegate 65 Steam Power to us, you will receive 435 MECO coin tokens that could be traded on the Waves decentralized exchange. Um, and, uh, going down here, another thing with these various token sales, a lot of times what happens is, uh, people don't have the safety of investing in these tokens because they don't match with certain regulations. As you can see here, we're taking an exemption under Rule 504 of the Securities Exchange Commission, uh, where we'll only be raising about $500,000. But, uh, you, under Rule 504, you can raise up to about $50 million, uh, I'm sorry, $5 million in a 12-month period, uh, and just by, uh, filling out a form, sending the form into the SEC at the conclusion of the sale of your tokens, and that is a waiver, and it's called Form D here, and that is a waiver to where you can stay within SEC rules and regulations. But the only issue is that you're limited to how much you raise. For particular what we're doing with the Steemitocracy game at this point, we don't think it will be necessary to raise $500,000, no more than $1 million as we get to our second phase. We think the way Steamatocracy is set up, how the game works, that will be enough funds for us to get started and hold enough STEAM power. Also, by using the Waves decentralized exchange, the hope will be to have holders of Waves, which has a great layout as a decentralized exchange at this point in time, to get them involved within Miko's Coin as well. Uh, Miko's Coin will also be able to be redeemed back to STEEM for people who hold it. Uh, now, uh, of course, that again will be limited to the amount of STEEM that is available through our exchange systems. Otherwise, it'll have to be traded on the Waves decentralized exchange or traded amongst other members who are using the coin. Uh, but I think it's going to be very important, guys, especially if you're Stemian to seriously consider the situation, what we're getting on Steemit.com as we deal with the voting system and we deal with upvoting. And I say that because there are a lot of new sites that are coming out, such as Ono, which is not— which is launched, going to be launched on the EOS blockchain, which is going to deal a lot with a more democratic voting system. Um, with Epix here, as I've, um, not entirely read everything about Epix, but as I understand it, they're going to have a judging system that is a lot more fair with the voting system, uh, and it will run on the Steam blockchain. But I'm not exactly sure how the judging system will work or if they will be swapped out or how many it will be that is— that are making these decisions. But the point is that they are going to start addressing a lot of how the voting system works in Steemit. And I think going more on the merits of people who post and not so much playing into nepotism or favoritism. At the end of the day, The influence system has been very appealing to a lot of people in the Steemit system, and I think it's worked quite well. But there is sometimes necessary a type of evolution and growth that needs to take place. And I think the Steemitocracy game is going to offer quite a bit of direction in how we can kind of grow Steem and the voting system more on a meritocracy, that might create a much better distribution situation for Steem, a more healthier system, and make it a lot more appealing for various people to get involved and use, and not kind of get pulled in a tangle between whales and Steemians who sometimes might think the system this was not quite fair. So this has been one of the problems with Steemit, and I think that Steemit has done such a great job that this is a problem that can easily be solved with, uh, between the SMTs, between many of the applications that are built on top of the Steemit blockchain. I think we can come to a situation where it becomes more of a meritocracy or Steemitocracy. And I think that will be awesome for Steemit in the end. So I really think we need to address this, guys. I hope Steemitocracy might be taking one of those steps for us to do that. Have any questions, comments, suggestions about Steemitocracy, or you just want to learn more about it, register with our site. And just by registering with us, we can get your post showing over there. You know, whether you want to make an investment in Steemitocracy or not, Just register with us. Your participation will be good enough. If you do want to delegate some Steem Power to us to try us out, we will give you 435 MECO's corn for 65 Steem Power to build up our Steem Power so we can go around and try to get a more fair distribution system on the votes and various things like that. And again, this isn't about trying to cut whales out or anything like this. We all need our whales. I'm a, I'm a whale supporter, but, uh, the whales can help us to balance the system, I think, in a much more healthier way. And I think stemetocracy is going to make that possible. So that's what we're saying here, guys, and that's what we like to see. And, um, uh, would love to hear some of you guys' input if you think this might be a fun game, something that can work. Any suggestions as we raise money from the site. Right now we have about 100 wallets since we've launched, and I'm very proud of that because when I first launched Miko's Coin and came up with the idea of Steemitocracy, I wasn't sure if anybody would want to participate in this or if our small site here and just our vision for this would gain anybody. But we got about 100 wallets now, and that shows me that people are interested in this. So Tell me what you think, guys. Don't forget to sign up for Epix. I think if you buy, they're only $0.15, but I think if you buy like 1,500 tokens, we're going to get 5% of that. And you can join the site too, and they'll give you a referral link where you can as well promote for Epix. And that will help us to buy more Steam Power so that we will be able to make the ecosystem of Steam much more healthy, try to award people based on democratic votes, more on meritocracy. And if you've got any questions about how Steemitocracy works and how it aims to accomplish that, uh, please feel free to watch our other videos, uh, sub to our channel here, and it goes into great detail on how we achieve that and, and how we believe this will work and will work well for Steemit. Guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.