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RE: What Is The REAL Market Cap of Steem?
Excellent work here. I have learned a lot in the last few days from pieces like this one. I have been loyal to Bitcoin for 5 years now, and only just recently decided I was cool with alts. Steemit blows my mind. I have a headache from all the information I have absorbed.
I am thinking about converting some bitcoins to steem power as I type this, but I just can't make myself pull the trigger. I mined over 3,000.00 bitcoins in 2011 and 2012, and I sold most of them for $10-$15 each. I keep reading pieces like yours hoping to find something that makes me execute this stupid trade. I have been doing this for days. I am not sleeping well. Please help.
Hahah. Sorry to laugh at your discomfort, but I'm laughing because I've been there and it's oh so close to home. I've gone through so many missed opportunities that I had to pull the trigger when Steem came around after reading the white paper and playing around a bit. I still bought in early and it would be hard for me to buy at these prices... but then again, I feel the same way you do about Steem. Since early 2013 I was bitcoin or nothing. I played once or twice with some altcoins, and I always wrote them off as useless distractions. Now, for the first time ever, I'm thinking bitcoin has a very real challenger. The speed of confirmations, the small size of the blockchain, the SBD peg, the vested shares concept, the social media platform giving perceived value to newcomers... there's just so much here to love.
That said... again, I wouldn't know if buying at these prices makes sense either. It's hard to know what has been priced in and what is yet to be discovered. I hope you can make a decision soon and move past the cognitive dissonance. Either way, I wish you the best!