Let's Daydream: Steem First Down To $0.10 And Then Up To $800

in steem •  3 months ago

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Crypto bloodbath! On days like these it can be fun to ponder the mind about wild scenarios that could or could not happen. Today mine is this: Will we see Steem at $0.10 again? No, this is no FUD post but rather a wild speculation. In all the 15 months I am on Steemit I have never seen Steem at $0.75 and Bitcoin might sink much further and pull the alt-coins into the abyss. What sounds horrible for hodlers might actually be the opportunity of our lifetime. Let's Daydream!

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Think about it: Even though a $0.10 price for Steem sounds nearly unthinkable for such a massive and potential blockchain, it all depends how many investors keep hodling. As the market shows, all moves with Bitcoin and that has not seen its bottom yet. So a few more ping pong rides downwards and all alt-coins loose easily another huge chunk of their value.

Now let's assume we go down all that way. All the the way down to $0.10 USD. My reaction is pretty clear: I would go all-in Steem and sell my stuff just to get FIAT money. Up until now I wasn't really an investor as Steem was rather my financial saviour and helped me to provide for my family. However, I learned so much about this blockchain and in my opinion Steem Power is one of the most valuable assets in the world.

I like to imagine I could get my hands on 100K Steem. At a price of $0.10 that would come at a bargain of 10K USD. Powering that up would give an exactly $5 upvote at the current 3.5 days Steem median, which is at $0.82 - tendency falling. I don't even bother to calculate what that would be worth at $0.10 Steem price. Better to imagine what it would be worth at the Steem all-time high: The upvote would be worth $50!

And how about at a Steem price of $80, which it is totally worth in my opinion? Whooping $500 per upvote. Ten times a day makes $5K per day, $35K per week and incredible $1,825,000 worth of upvotes per year in total. Nice right? And that doesn't even take the interest and compounding interest of Steem into consideration. Imagine how much curation rewards you can earn with that which will constantly grow your upvote value further.

To be totally honest, I think $80 price for Steem is way too conservative and no fun to daydream about. Let's go up to $800 for a single Steem. That would require a 220 billion USD market cap for Steem. Well, that is merely half the value of Facebook and Steem is the best utility token in the world that can run all social media platforms we use today at once. We are moving potentially into a multiple trillion Dollar market for cryptos and $800 Steem is not out of this world whatsoever in that case.

So let's play: 100K Steem would be worth $80 Million USD! $5K per upvote, $50K per day, $350K per week and $18,250,000 upvotes per year. Oh, the abundance I could bring to others. I could support 1000 people and projects with each $18,250 per year, growing my account while at the same time powering down a little bit to pay for my own living costs. Staying in wonderful balance. And I would not even be considered a whale yet...

I like days like these!

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I certainly like that daydream and have speculated on what might be the end of all this, too! Now if we do see 70, 50, 30, 10 cents, it will definitely hit right in the heart, because my average buy-in for my 12K STEEM is probably around $4.00 (I kept dollar cost averaging even through December and never cashed out!)

But, as a committed optimist as well, there's no productivity to be had in lamenting a past that can't be changed! Plus, I am in it for the long haul because I believe in the brilliance of our community here. So, were we to see the very low scenario you are musing about, I would do the same thing as you: sell anything I could and madly buy as much STEEM as humanly possible!

The possibility of the upside is so incredible, we'd be able to help support so many people, that it means I don't have time to worry about the downside :-) Thanks for this gem, @flauwy!

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I can feel the pain but like you said you are in for the long run. Steem is fun and revolutionary and we are its early adopters!

I'm totally with you! Now we are already so much down that every cent that Steems becomes cheaper is just a blessing. I remember when I joined we had 250k registered users and no dtube, dlive, steemhunt, steemmonster and utopian for example. The market is totally ignorant about the great upcoming developments for Steem Blockchain, With H20 upgrade in 2 weeks and SMT release next spring Steem is poised to make a massive move. Keep on stackin guys this might be the last low for the price of Steem!!!

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I started at the same month as you and I remember it well because there was not much to remember. Steem has exploded since that - not in price but in dApps.

While everyone (me included) want to see STEEM reach high prices, i think 800 is waaaaay beyond what is actually possible.

One of the factors is the inflation, because while It will be getting lower over time, It will be there. And inflation means a tendency toward lower prices per unit.

The only way to "counter" the inflation is a bigger increase on demand (more users joining and buying steem), which i think is still a big question mark.

Second factor is that competition is starting to appear. While this doesnt necessarely means steem will die (maybe, maybe not), It surely means that the potential capital Will be spread among other platforms.

Besides that, comparing to Company stock values is not a good metric, because these companies pay dividends to their shareholders, and there is a Lot of other stuff that goes with stocks.

A better comparison would be with other currencies, since this is the main function of the asset.

And another question that still need to be answered is If steem economic model is sustainable on the long term.

Anyway, we all want steem to grows, but is never a bad thing to keep our expectations leveled with reality. Less disapointments that way.

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You realize this was meant as an entertaining daydreaming post? :)

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I do. But someone else might not.

Just check the comments.

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I see only people who dream with me or call me crazy. You are trying to find a middle ground. I appreciate that.

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Indeed that is my idea.

It's just a thing that i see everywhere since i started to learn more cryptos and blockchains: There is too much hype and false expectations about "moons" and "lambos", and that kind of thing bothers me. (not your case here, btw, but people only see what they want to see)

What we are experiencing first hand (not only on steem) is the beggining of something truly revolutionary, but with a very uncertain future.

We all want this revolution to happen, but when all we see around is everyone just looking up and praising how everything is awesome (and we will all be rich), i think there is the need of people like me to poke around and say "nice, but look where you are stepping, there is a hole on the ground right there. Don't fall on it.".

It's nothing personal... Just a something i can't avoid to do...

(Damn, there is so much things happening that i always forget to check how 1UP is going...)

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Fair enough, the future is totally uncertain. But I try to shape my reality by putting my intention out there. The outcome might be different but certainly influenced by this belief one way or another. 1UP is a master example for that, by the way. My writing here helped my intention and vice versa which leads now to manifesting 1UP into reality.

I think going all-in and even selling stuff to get more fiat money is crazy. Cryptocurrencies are a high-risk investment. How do you feed your family when everything goes to 0?

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Faith Can Move Mountains..

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How do you feed your family when everything goes to 0?

Certainly not from the few pysical goods I own and could sell. And I am already living 100% of crypto for over a year so your question works even if I don't buy any crypto whatsoever.

That's pretty mind boggling @flauwy. A $5K upvote and all without being a whale!

Great fun to ponder. 😁

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Fun ideed. Living in "realistic town" sucks. ;)

Well that much down in cents looks near to impossible but anything is possible in crypto

Love the sentiment and enthusiasm you have in the post @flauwy .. with the prices being down, each time I write a post I've been thinking along similar lines, every cloud and all that ;)

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I like your daydreams. I don't think the 'Steem for 10 cents' is going to happen ( we're going up again ) but - even now - it's still at an awesomely cheap price.

Keep sending these positive vibes and I will try to start sending mine ( in fact, I'm already doing that, behind the scenes). It's just that, not being very technical, I need people like you - who fully grasp this ecosystem - to give us a thumbs up about its future.

So thanks a lot! :>)