RE: SteemSQL - Database updated and ready for SMTs
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Dear @arcange
I've been wondering, what will be main difference between SMTs and SE (from user point of few) and I'm not sure if there will be many differences that would really matter.
I was already told that in order to purchase or sell SMT - one would still need to have his own account on STEEM blockchain. That first buyer will still need to purchase STEEM and only then trade it to SMT. Which means, that price of our tokens will still depend on price of STEEM. Any idea if it's true?
Yours
Piotr
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You're right, from a pure user's point of view, there won't be many differences
Whether with SE or SMT, you will need a STEEM account anyway because SE uses Steem custom_json operations.
On Steem Engine, a user will need to buy STEEM then buy STEEMP(pegged/backed with STEEM) before being able to buy a SE token
With SMT, a user will be able to directly buy any token once he/she as STEEM.
Finally, saying that a token price depends on STEEM price is not both correct and incorrect. It depends on the intrinsic value of the token.
Let's say 1 TOKEN as a value of 1 STEEM and 1 STEEM is $1, so you basically can say that your TOKEN value is $1
Then the value of STEEM falls down to $0.5.
Without changing the intrinsic value of TOKEN, you now need 2 STEEM to buy 1 TOKEN (which still worth $1)
But if you consider TOKEN value kind of pegged to STEEM, then yes, its value is STEEM dependent.