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      "author": "toni2oni",
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      "author": "blocksource",
      "body": "Do I understand correctly that Sapien acts as the central authority to reward sign-up and content creation and curation with token that they hold in their fund? And they also have the central authority to decide who acts maliciously and then  freeze their token?",
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      "body": "I think the accrual time is something that the creator of the SMT determines when they launch the SMT - by setting some parameters.  That's how I understand it but Im learning so I stand to be corrected. \n\nI'm summarizing the white paper so you can follow me for my take. Here is the link to the first part. https://steemit.com/smt/@toni2oni/smt-whitepaper-summary-part-1",
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      "author": "littlescribe",
      "body": "Let me know if you have any questions on how to get around!",
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      "author": "blocksource",
      "body": "Thank you :) I am a new user indeed and have just started researching steem a few days ago. I'll check out the chatrooms you mentioned!",
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      "author": "littlescribe",
      "body": "Welcome aboard! I think you'll fit right in. Make sure you hit the chatrooms on steemit.chat. You'll probably be a good fit for #price and #witness for starters. Then again, you're probably already a user here and this is a second or third account. But just in case you are new, hope you have a good time here!",
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      "author": "littlescribe",
      "body": "Nice analogy there. Little siblings. Yes, SBD are pegged closer to the dollar--as long as witnesses are doing their job (or what seems to be their job). Sometimes I think maybe they ought to not peg it so close, though. I'm on the fence about it.",
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      "body": "<html>\n<p>Congratulations <a href=\"/@blocksource\" target=\"_blank\">@blocksource</a>, you have decided to take the next big step with your first post! The Steem Network Team wishes you a great time among this awesome community.</p>\n<hr>\n<div class=\"pull-left\"><img src=\"https://steemitimages.com/DQmaAdLUJ3yaSkmcmWECWyPGPWcjfbCoZ8Tu4RM6H4DbjCi/steem-network-thumbs-up.gif\" alt=\"Thumbs up for Steem Network´s strategy\" title=\"I suggest Steem Network´s strategy\" width=\"320\" height=\"222\"></div>\n<h1>The proven road to boost your personal success in this amazing Steem Network</h1>\n<p>Do you already know that awesome content will get great profits by following these <a href=\"/steem-network/@steem-network/spread-your-posts-through-this-proven-strategy-and-get-great-profits-in-return--for-posts-created-at-2018-01-15\" target=\"_blank\" alt=\"Steem Network\" title=\"Follow Steem Network´s suggestions to boost your success\">simple steps</a>, that have been worked out by experts?</p>\n</html>",
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      "author": "blocksource",
      "body": "Hi Steemers,\n\nI'm a passionate blockchain advocate for years but new to the Steem ecosystem. The cryptoeconomics behind it are really thrilling!\n\nI'm researching smart media tokens for a future project and was philosophizing about the relation to Steem Dollars. When you earn reward on  the *original* Steemit platform, you can choose to earn reward in SP and SBD 1:1. The amount of SBD earned is dependent on the current Steem price feed as published by the witnesses.\n\nThere's no such thing for SMTs as far as I understand. So I'm wondering if there are any plans to add similar functionality to SMTs? I could imagine a solution like the following: If a SMT reaches a certain popularity, witnesses start publishing price feeds for the SMT and then content creators can choose to earn Dollars and token 1:1, just like with Steem. In my opinion this would also be mutually beneficial for the stability of the Steem Dollar, because now SBD is not only a *convertible note* in the Steem ecosystem (as outlined in the Steem whitepaper), but additionally in the token ecosystem. \n\nNow an interesting question is, should you be able to convert SBD into any token for which feeds are published or should there rather be an SMT Dollar introduced for every SMT. If you apply the 10% debt-to-ownership ratio rule like currently in place with Steem itself, the first option could be feasible.\n\nLet me know your thoughts!",
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      "author": "blocksource",
      "body": "Thanks for this introductory article!\nI don't fully agree to the comparison to SBD though. SBD are an experimental coin that tries to keep a stable USD exchange rate of 1 by witnesses stating exchange rates (and then taking the median over all witnesses) and then rewarding users according to derived market forces. In contrast, SMTs would just be subject to open market trading. I'd rather call SMTs little siblings of STEEM coins :)",
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      "body": "Thanks for the analysis! Just want to add that the number of wallets have very different meanings in Bitcoin-like Blockchains and Steem.\nIn the former, you should use an address only once (i.e., spend the UTXO held at an address) and also transfer the change of a transaction to a new address. An address is the hash of a public key and once you spend Bitcoin from an address, the public key is known to the public, decreasing security (think of Quantum Computers breaking ECC).\nIn Steem, however, a wallet is really linked to an identity. And this link should persist along all transactions on Steem.",
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