Why I think Steemit is undervalued
Based on my analysis that I posted somewhere in my @Darkflame steemit, Steemit should be around $22 based on its previous price in Bitcoin. Bitcoin has risen so Steem should be much higher, maybe 4 times as much or more.
CHARTS SHOW % OF PIE VALUE
ANALYSIS OF COINS 18-34 where Steemit is.
Coins 18-34 Market Cap
Secondly, you can buy 1 of every top 200 coin for under $7000 USD right now.
https://coincap.io
You can see that every single coin is undervalued. There are more than 16,460,354,552,683 crypto-coins in total, bitcoin and altcoins. That is over 2.05million coins for each person currently living, object, vehicle, machine, part, internet bot, vending machine, etc. Population Growth is expected to reach 11 billion by 2100 so only 1,496,395.868425727 per person or object on Earth. Forget that. Consider that not all coins are equal, and that bitcoin and maybe the top 5 coins will reach most people. There are only 21 million bitcoins in total-- so 2.625 per person. But most have been lost and maybe only 1million BTC are available. (Not talking about BCH) There is only 0.125 available per person on Earth today. There is only 0.0892857142857143 BTC for a human in 2100 where there are 11 BILLION people. Most likely a person living in the future will get that many "credits", probably only 1400 satoshis for a space mining run. 1 satoshi could put a child through school. Can you imagine a world where 1 satoshi = 100,000,000 credits? Wow. Mind blown!
steemit has not risen as much as it should because the establishment is afraid of it being a viable real alternative to many other "social media sites" so they are purposefully not investing in it. Just imagine how many billions there are invested in FB alone and how much money they have to lose because of steemit! btw, if you don't think establishment players are investing in cryptos than think again.
Any idea why it is this undervalued? Newbie here:)
It is early. Facebook in 2005 with 250,000 users.
Great to hear this, so we all are still early adopters. Cool.
This is the chart you need to look at.
https://www.coingecko.com/en/price_charts/steem/btc
Sorry, I'm a little confused here. How did you arrive at the multiplier (5849)?
That was the Bitcoin price in Canadian at the time of this post. I also posted prices in American and links to both coingecko pages.
Ok. I gerrit now. Thanks
I highly doubt that we will ever see 11B people. At this rate we wont even live past 2050 due to global warming and nuclear wars.
My biggest concern for STEEM is streamlining it for the average person who DOESN'T use crypto so they can better understand it. I've had many people ask me how you get your money out once you receive it. The answer is always super complicated and involves knowing how crypto works.
I hope in the near future there will be a simple "Sell STEEM/SBD/SP & send to Bitcoin wallet" feature. But why would anyone want to cash out yet? Thats like selling your Bitcoin when it hit $1