How do we(you) define value on the steem blockchain?
TL:DR - How much money companies/brands spend to load on Steem Power to market themselves on the Steem Blockchain.
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I'm a Fundamental Analysis kinda guy. So I already have a cookie cutter answer for you.
Bitcoin's value is in the open, neutral, global, censorship resistant, decentralized nature of the Bitcoin Network to allow a bitcoin to be a ubiquitous Medium of Exchange and Store of Value.
Ethereum's value is in the computability of the Ethereum Network and the interopability of all the ERC20/ERC721/ERC777 tokens.
Steem's value is in the global censorship resistant, zero entry barrier content platform to allow instant non-minimal-limited compensation to creators.
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So how I define the value of the Steem Blockchain? Bear in mind that the value of the Steem Blockchain may not immediately be reflected in the price of the STEEM Token. Token price works via simple supply/demand economics where the real value of the blockchain may not be the overwhelming driving factor.
The value of the blockchain may be proportional to the MAU of the Dapps especially in content creation and engagement.
One quickest use case of the blockchain may be for brands to build their community and followings. From what i know, @coingecko has powered up 22000 SP on the Steem Blockchain (maybe about 3 Bitcoin at the time) so that they can upvote users who talk to them whether via comments or posts that mention them.
This drives word-mouth-advertising as more people talk about @coingecko and how it's different from all the other coin price websites. Most people don't know about @coingecko and presses the first result they see when googling "Steem Price".
Unlike other forms of marketing, money spent on buying steem power can be reclaimed by selling the Steem, so rather than being a cost it's now an investment. Assuming the price stays constant, the only thing spent is time to engage on the steem Dapps, rather than a sunk cost for other forms of advertising.
So, is the Steem community effective enough in being mobilized as a marketing vehicle? will it worth @coingecko's time to be on here, will it worth the 22k Steem power they spent?
This may be the easiest way to define the value of the Steem Blockchain, and personally i'm watching closely to see what happens
Thanks for the sharing. It is painful to know if they used the 3 BTC to buy Steem now it would be
5,598.17*3/0.595463= 28204.1201552 steem, about 6k more Steem but who knows right? All the best to the team.I mean... I assume a company the size of @ coingecko really don't see it as a lost investment if the 3 Bitcoin can buy them publicity on the Steem Blockchain.
Which is my point really, Imagine what if Steem is a good enough social media / content platform that instead on sinking 3 Bitcoin on Facebook ads, they can get as good a result on Steem. I dont think Coca Cola cares they lose 10% of the dollar value of their hypothethical 10 Million SP "Investment" if they can use it to get people to make Coca Cola "for free" in hopes of their upvotes, which in a way cost Coca Cola nothing... You get what I mean?
Yeah 100%. I was just making fun looking at the depressed price of overall market right now. First of all coingecko wasn't aim to treat this 22k SP as a sole crypto investment but an influential power. I hope they have gained something over the course despite of the coin's dipping price. Furthermore, what if we have a bull market right now? The investment made by the team would have been a genius move.
That's certainly a nice thought!
The last major bear run last all 3 years before it mooned to 20k in 3 months time. I won't hold my breath waiting for the next one.
Plus the low price now means I'm getting more Steem since there's less competition!
I also rationally increase the stake around this time but within my manageable risk too. The potential for Steem is still optimistically bright as we can see more and more Dapp developed based on the blockchain. That’s encouraging and making me wanna be involved more ever since.
Of course, us individual plays a different game from company level whale accounts..
In a sense, when talking about "investing" in Steem, one could argue that learning how to make better content (writing better, make videos) is as good as an investment for bigger future rewards.. I look long term at Steem.. And so far I think that's what i see..
Why buy Steem Power if we can influence the community with out content to power ourselves up with upvotes without monetary investments. of course, there are caveats and its a topic of discussion for another day.
True. There are so many ways to play with Steem ecosystem and the fundamental of it is to create good content. Investing fiat in it is just to boost the growth so that the account would be able to do slightly more curation and support for the community too. To me, it is a win win thing as I’m looking this at a long term too. That’s why I am willing to put in some extra investment beside time into it. Treating it like a business entity.
To be honest, bring in Team Malaysia is already a blessing in the blockchain which is one of the most active community in the blockchain. That is really something.
Being in a community certainly helps, Steem is just a microcosm of the real society and in the real society one certainly can't thrive alone.
Cool that you're loading up on steem. The low price now means you're buying at a sale Hahahaha!
I've seen for myself more than once now how some people was telling me how crypto isn't doing well and then a few months later complained to me they missed the train😂😂. Don't know what's their thought process, don't dare when price is good, then regret not buying, and when price drops they repeat the cycle. Lol
Ya. Memang at sale lo. Since I’m committed to this, so might as well increase the stake and get more return (rather than staying idle in the bank account).
Haha, there is surely a lot of noise out there la. I just get what I need to hear and do whatever I need to do. Other than that, will just ignore and let it flow 😂
interesting way to think of your money..
Always trying to readjust how to ‘treat’ the money.
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