I think the challenge is seeing one of these tokens establish themselves and not just as a debt for steem.
Right now the minimum price on steemenngine is around 0.001 steem per token. This creates an artificial floor.
I glad to hear sbi os waiting before jumping in. If it ain't broke dont fix it. Maybe some people can try sbi2.0 which is tokenized and therefore super awesome. After, you can have volunteers make the switch and tell them no backsies.
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Artificial floor is a potential issue, but if the token issuers have a value proposition and don't over-issue their token, it's not an issue.
One way of looking at it: the 'market cap' of any token/project is based on a present estimation of discounted future value of the project. Market cap equals tokens issued * token price. So if the estimated value of the project is only 100 STEEM right now because it's an unproven (or untrusted) team, but the team issues more than 100,000 tokens, the price floor becomes a real issue. On the other hand, if they understand that and only issue 10,000 tokens, then the token may find an equilibrium around 0.01 and not be limited by the price floor.
Biggest issue I have seen with these tokens selling at 0.001 and no demand at all is because people think that if they just issue a token they will somehow get STEEM.
(Actual question I have seen in steem-engine discord: I issued my token and listed on market, when do I get paid?)
It doesn't work that way. It may feel like magical internet money, but crypto prices actually are driven by fundamentals (estimated probabilities of world-changing properties), with occasional madness causing deviations from fundamentals-driven prices.
I agree and this is part of the problem. People simply issue too many tokens, then it is somehow my faukt for daring to suggest they may be over valued.
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Most tokens are overvalued, and I'm pretty sure it's hubris on the part of issuers. Definitely not your fault.
Proving yourself is not going to be easy, but I'm sure they'll do it. There's even whole blockchains around weed(smoke.io, which is a fork of STEEM, potcoin, which is an old one and I don't know if they still exist), and it might be a way to get more users into STEEM. But it's going to be a challenge for beginners. Learn about that chain as well as Steem at the exact same time.
I've never understood the purpose of most of these tokens. Ignoring them and selling them as soon as I get them seems to be the most profitable strategy.
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For most tokens (not just in Steem, but in broader cryptosphere) that's almost certainly the best strategy - especially if you don't have the skills to evaluate the projects on technical capabilities and/or cryptonomics.
Well, SHADE is given for sharing and engagement. It's hoped that being able to share SHADE will get some more folks sharing posts and engaging on them.
!SHADE 5
of course, my new favourite hobby .. throwing shade at deserving folks
!SHADE 5
