Isn't Steem worth more than this?

I put in an order a few minutes ago for around 5.2 SBD, to be used later this evening. For this small amount, despite putting the order in rather up in the order booklet, I am to pay 8.2 Steem. The fuck!?! How is Steem worth so little right now?

Sure, I watch the chart every day, but somehow making that order made it far more real to me.

What makes it far more...annoying...is that all of Steem is currently undervalued.

A quick look up of the Steem market cap shows that it's currently at $168.5 million dollars. If you only consider Steemit and perhaps the similar interfaces, $168 million doesn't seem that bad.

The idiots that bought MySpace sold it in 2011 for $35 million dollars. That's actually not that bad. If I was a billionaire or was in charge of a billion dollar company, I would in fact consider buying it for that amount...in order to completely redo it and the code behind it, to improve it, and possibly bring it back. Sure, quite a gamble, but in the hands of someone that's not a complete moron, might be worth making. The site might have been completely ignored for years, but many of those that have been on the internet for a while remember it fondly and with Facebook being in the state it is in, it could possibly make a comeback. Of course the new owners have been too stupid to figure out how to do so.

Now think about Steem. Steem is not just Steemit. It is not just a blogging platform. If they get enough developers here doing good work, this place might be worth quite a pretty penny. I would say it's worth quite a bit more than 5 MySpaces, a site that's practicallly dead, and a joke of the internet. It was a joke even when it was sold for $580 million in 2005.

We could run 5 different "MySpace" type social network sites here. We could actually totally have 5 different interpretations of a MySpace clone here, that would actually earn you money. We already have a YouTube like site. We could have many many more than just 5 different social networks here. And the creators of them could choose to limit the posts to ones only made on the site, or any of the sites on the Steem "network".

But that's not all Steem is. Steem is also a currency. A currency that makes it a LOT easier to send money back and forth than any site or service like Paypal.

The main limiting factor currently is the transition from FIAT to crypto. Except you don't necessarily have to even do that. You can buy stuff from various places with crypto. You can also get a crypto card. There are of course services that do allow you to sell crypto for FIAT and buy various crypto with FIAT.

So, here we have a group of multiple sites, all currently intermingling, allowing users from any of them to talk to one another. And it's all in it's infancy. I for damn sure think it's worth a lot more than the market is claiming right now. Though perhaps in the past I may have overvalued it a bit, as others have, because Steemit can't exactly be relied upon to put the development in that this place needs. So this place is worth a lot more than people are currently valuing it as...but I do think we need a few more devs working on some cool shit to fix some things.

_{Image by mohamed hassan 08/01/2018 CC0 Public Domain (source)}