Steemit beta Facebook?
Steemit, the flagship Steem application is only in beta. Steem is much much more than a reward system for a decentralised social media platform. With Steem, one can build anything.
Facebook has a market cap valuation of approximately...
$190,000,000,000 (190 billion or 190 thousand millions.)
Steem has a market cap valuation of approximately...
$230,000,000 (230 million) yielding an approximate unit price of $1 per steem...
This is nuts but it's fun so I'm going to keep going.
190,000,000,000 / 230,000,000 = 826
So, if you believe it's possible for Steem to equal Facebook's market cap valuation, then presumably, when it does, there is the possibility that a single Steem will be worth $826.
In fact, given all the things that Steem is and Facebook isn't, couldn't Steem be worth even more?
So when a single Steem is worth $826, just 1000 Steem would be worth $826,000 dollars! 10,000 Steem would be worth $8,260,000. Isn't that a grand thought?!
Yea but that's just stupid, there's no way that could happen during my lifetime. That's what I thought. But, let's inflate the number of Steem to 300,000,000 and assume all Bitcoins are circulating, so 22,000,000...
300,000,000 / 22,000,000 = 13.6
Very approximately accounting for the differences in supply, steem would only need to be 13.6 times more valuable than Bitcoin...which is sooooo easy because as much as we all love Bitcoin, it's really terrible nowadays, limping along like your Aunt's old dog.
So other than making sure we have our expectations aligned and set to the right level, what's the point...I mean if these are not compelling enough thoughts themselves. Well, my fellow Steemians, with that kind of wealth, we could build a starship, make contact with our alien brethren, colonise new worlds (uninhabited worlds) and live forever.
I just wanted to bring these important matters to your attention. Thank you for your time.
Happy Steeming
Good thoughts here! On a side note though... not sure where you got the Facebook marketcap data from, but it is actually worth $441B right now... Which only adds to your arguments! ;)
Ha! That's hilarious! Double everything! Thank you for letting me know....I had the figure in my head, now that you mention it, i'm not entirely sure where the figure came from. I suspect some dated article. Thank heavens this was a tongue-in-cheek post or my credibility would have been monstrously undermined!
Double it all! ;)
Hoping to see Steemit to the level of Facebook one day.... it is very soon..
You never know. All sorts of things seem possible lately! ;)
yes by seeing today's market, anything is possible. Everything is going in negative side of index...
i pictured steemit in the future being a mix of reddit/facebook/amazon/youtube.
I quit Facebook because of Steemit. Think about it
Hi bud! Indeed. It is a potent illustration of what may be to come....and fast.
Fantastic Post! What will STEEM's Price reaches BILLION Dollar Market Cap?
i think it could be....based on my very loose reasoning...$826 / 19 = $43 per steem. I stress these are very loose assumptions at this point....all in fun :)
Thank you! It is interesting! Let your words become reality! Thank you for sharing!
My pleasure olga. We can hope and plan....let our plans be filled with philanthropy!
Thank you for posting @benjojo.
What a great analysis.....especially after reading the @jrcornel's reply below.
Looks very promising......
All the best to you. Cheers.
Looks like I may have been way off! In a good way ;) thanks bleujay!
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