Steemit User Base up 55% / Steem up over 700% in LESS THAN A WEEK!!!!! Payout's are on the up
What a week for Steem and Steemit. After writing this article (https://steemit.com/steem/@hisnameisolllie/steemit-growth-9-user-growth-in-24hrs) Steemit and Steem have been on the move in a big way...
6 days ago:
User Base: 4700
Steem/BTC Price: 0.00032btc
Today
User Base: 7300
Steem/BTC Price: 0.0025btc
Very impressive growth numbers all round.
One thing I would pay less attention to is the price of Steem if you are currently a 'Steem Power holder'. 98% of Steem is currently vesting in Steem Power (https://steemit.com/steem/@hisnameisolllie/98-of-steem-currently-held-in-steem-power-securing-the-longevity-of-steem) meaning the Steem price at the moment is only reflective of a 2% free float in the Steem available. This means that the Steem market will likely be over inflated, and this will persist for a while until significant numbers of users power down. This however will take time as only 1/104th is released back to the holders per week, until it is all released over the 2 year period.
Steem's market cap is currently standing over $120m. This has the side affect of increasing payout for content creators and content curators. This is because payouts are a function of market cap, which has risen far quicker than user numbers. Now is the time to up your contribution to this platform and benefit from the higher payout, and thus reap the high rewards..
Remember market cap grows n2 the number of users. B
Can you elaborate on this? Are you talking about the Metcalfe law?
So, at the moment, 7300users comes out as (7300x7300) 53m connections. The market cap is valuing each connection roughly @$2...
6 days ago, 4700user is 22m connections, with Market Cap at $20m, that was valuing each connection at roughly $1..
It's remember me the growth of facebook. Steemit is geniously design...I believe this is history making. It's will be televised ...Get ready to sit down with some popcorn and watch CNBC.
I already told 1 friend, but i plan to tell a whole lot of friends, associates and/or anyone who will listen. I started mining bitcoin a few years ago as soon as I heard about. ( well actually the 2nd time, because the first in 2011 I ignored and wish I hadn't) I am still learning about steemit but this seems to be an awesome project, might be the next You Tube!!