#1 Data Point Proving The Value of Steem!

in steem •  10 months ago

What one number shows the value of Steem the most? 630,993 transactions with Steem PER DAY which is more than Bitcoin and Ethereum and Litecoin COMBINED! See the screenshot below!

steem transactions per day.png

Thank you to @jesta with https://steemdb.com/ for making the transaction data available there. I made this post because it is the first post with this topic I found that also links to a data source that we can monitor for both Steem and the other cryptocurrencies shown below.

bitcoin transactions.png

The data above is from https://bitinfocharts.com/index_v.html showing that Bitcoin had 207,480 transactions within the last 24 hours along with Ethereum having 234,543 and Litecoin having 18,018.

Key differences

  1. Bitcoin transactions are sending money while over half of Steem transactions are votes including a lot of auto votes. The average value of a Steem transaction is pennies while the average Bitcoin transaction according to the data is $30,000.
  2. According to https://blockchain.info/charts/my-wallet-n-users there are over 15 million Bitcoin wallets while there are about 300,000 Steem wallets meaning that the amount of transactions per user is very small for Bitcoin and very large with Steem.
  3. Bitcoin was launched in 2009 while Steem was launched in 2016. What we are seeing for Steem is very promising based on the Bitcoin data!

Further research

  1. Blockchain wallet users https://blockchain.info/charts/my-wallet-n-users?
  2. Number of Ethereum wallets https://etherscan.io/accounts.
  3. Litecoin wallet address https://bitinfocharts.com/top-100-richest-litecoin-addresses.html
  4. Number of Steem accounts https://steemdb.com/accounts.

Conclusions

  1. According to the transaction data alone, we have the #1 cryptocurrency in Steem!
  2. Transactions are a key indicator of the real value of a cryptocurrency because this is how fiat currencies work also. USD are valuable because of how many people and companies accept them as payment.
  3. Now is a great time to buy Steem! I am planning to buy more today because in seven years I think the Steem price will be comparable to the Bitcoin price of $2000 today AND I think most other cryptocurrencies will have failed because of lack of user adoption = few transactions.

Love,
Jerry Banfield

PS: Watch instead in the video I made after writing this at

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Thank you for your post Jerry! I see you raised the bar for the price of Steem to 2K now which is great! I think one of the last videos I saw of you predicting price was 1K per Steem coming up in next few years. Oh well, let's see, no crystal ball invented yet.... It would be great to reach your target of 10USD for this year. Even though I feel very optimistic about the platform though I feel that might be little too high to reach in next few months. It would be great if we triple from here with the increased adoption. I can see more and more people promoting it through posts on twitter as well as facebook and a lot of influencers with huge followings joining the community so let's see....we might see 10 bucks by the year end after all. You are doing amazing job so far and have done some incredible things over the past two months! Thumbs up or shall I say upvote:)... Thank you!

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Thank you very much @czechglobalhosts for looking into these ideas with me and your attention to detail to notice the shift from $1000 to $2000 in prediction which I made by looking at the valuation of Facebook and making a comparable one for here!

Would you please vote for me as a witness at https://steemit.com/~witnesses by typing in my name either to make a vote or to proxy to have me vote for all your witnesses because it feels good to participate in what keeps the blockchain running by voting for a witness?

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Can you kindly explain in plain English what exactly is a witness program? To be honest I am not really sure what is the sole purpose of it. Still so many things to learn over here. Thank you Jerry!

Buying proves commitment. You are strong supporter, and evangelist for STEEM

STEEM On!!
DaveB

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Thank you DaveB!

You are very precise in estimating the value of steem in 7 years :P but I am on your side, I know Steem will rise and surge to Jupiter! Maybe not $2,000 because of the high supply, but at least $100!

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@ericwoelk yes I think $100 is almost certain!

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This post received a 3.6% upvote from @randowhale thanks to @ericwoelk! For more information, click here!

2k for steem? that would mean a market cap 15X of BTC as there are that many more steem than BTC. If I'm right, Steem at $180 is the same market cap as BTC so if Steem hit the value of BTC it would need to have a value 15x - a number that does not include inflation - making that 2k a dream? Steem only needs to triple 4 times to get to $100 but that's a while off and needs mass adoption to overcome the built in steem inflation. (Steem has tripled 3 times since I first invested at $0.06.) Once there are enough people using Steemit, steem should become a currency of choice amongst the community which is the point steem needs to achieve. I reckon the site needs to move out of beta to get there. The only real possible issue in steems success would be a Steemit equivalent of a social media network based on EOS which I'd guess is highly probable... and that is the only steemit killer I can foresee?

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Steem has the first mover advantage meaning anything new will have to be 10 times better to achieve success in displacing us which is unlikely for the next 5 or 10 years.

The CryptoCurrencies is the paradise of the Internet and the Steemit is the paradise of the CryptoCurrencies; thanks for your constant quality posts, Jerry, that prove the above statement to be the actual truth.

I do have a question @jerrybanfield, there has been some info going around why many exchanges are always freezing the accounts. I don't have the details but reading further into it.

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I don't know but what I do is keep most of my money off of exchanges now!

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Steem transfers not working from Poloniex to other exchange or wallets even though they have been enabled. I tried 3 transactions and all failed. No problem with Bittrex

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Yeah, i know. It is ridiculous. My main concern was why did Changelly.com take steem out a while back. I'm curious.

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I'd love to know... Bittrex had a problem for a day or so too... upvoted and followed ;)

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Thank you for telling us about this! Did they say they were confirmed and not appear in your account or were you unable to finish the process on Poloniex? Last time I withdrew from there it took a day or two before I saw it in my account.

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The wallet was shown as functioning but three transactions (all done correctly) failed with an error. The Steem vanished but they were credited yesterday after another support request - about 9 days later.

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I like that SBD risk vs reward on poloniex though :)

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You are really into Steem...

Not to mention Bitcoin is close to it's limit physical of 3-4 transactions per second(in theory 7), while steem is able to handle way more than what currently does. BitShares and EOS have similar capabilities.

This is IMHO the biggest advantage of EOS over ETH.

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From what I'm reading, ETH in comparision to EOS is a snail. Perhaps this has made Vitalik critical or dismissive of EOS.

Reponse to Vitalik's Written Remarks
https://steemit.com/eos/@dan/reponse-to-vitalik-s-written-remarks

He stands to loose much if EOS experiences large scale adoption.

What are your thoughts on EOS Jerry?

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Im not jerry but im loving the look of EOS!

I sometimes lose perspective when I consider the fact that I just joined this community two weeks ago while some others got in in the first few months and are far ahead of many of us new users.

However, the perspective you've given in this post reminded me that this is a growing community that is still in its infancy relatively speaking. A few years from now I will probably look back at the time I spent pouring my heart and soul into my posts and interacting with others as one of the best investments I've ever made.

I cannot make an informed argument or speculate on how much STEEM could be worth in 1, 2, 5 or 10 years but I'm pretty certain we're going to see amazing growth and even those of us with small accounts now will still reap great rewards in the future if we continue to be involved in this community.

Regarding the great buying opportunity we have now...I have bought some steem last week and I plan to exchange some of my bitcoin for more STEEM today as the exchange rate is still near an all time low. Like you said, it's a great time to buy and I wholeheartedly agree. I'll also put more of my money into the currency again tomorrow which is my next payday and continue to buy small quantities of STEEM on a biweekly basis.

Thanks for yet another very informative post @jerrybanfield. You provide some of the most useful and practical content and insight that I've seen in my short time here. Thank you!

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@cryptokeepr you're welcome love your comment here because you clearly show us the bigger picture!

Hey Jerry, Thanks for that info. I am getting a little worried about steemit though. I bet 80% or more of the content isn't even getting read. It's a great place for bloggers but, I hate to say this but if it was a little more like facebook. I could get all friends on here sharing pics of their kids etc. We really could get paid for doing what we do on facebook for free. I'm not going anywhere though. I know steemit will keep changing to do what's best for the steemit community.

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It is okay to be worried and the question is how helpful is it to be worried? What makes Steemit superior already to Facebook is the potential for posts to be found in Google search which already brings many users here automatically and will continue to bring even more as the website grows. I focus on whether I enjoy making a post rather than how many people read it because no number is ever enough for readers! Not a lot of people read my early Facebook posts or most of my posts for the next ten years. Not all of us need a huge audience! Just a few friends investing a bit together can easily earn hundreds of dollars a month just voting up their own posts here. For example, if my wife and I each started from $0 and invested about $2,500 to buy about 1000 Steem each, we could literally vote our own posts as you voted your own comment up for about $5 a day at the current prices or $150 a month. Not even accounting for a price increase, that is $1800 a year back on a $2,500 investment. That is why I am not worried!

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I like the fact you mentioned that the post are searchable in google... I did not actual even realize that! To add to the picture/facebook comment from @ginacarole there is absolutely no stopping anybody to do exactly what they do on facebook.... the best for new users without much SP and any proper input to the platform is just to do exactly what they do on FB.... bring your friends that are already liking your pics on facebook and create your own audience.... plus if they all decide to invest few hundred bucks and turn them into SP then there you can have a nice closed circle community... Well, just my thoughts!

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Exactly @czechglobalhosts thank you for making it so easy to understand!

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Thanks for mentioning those facts that I have not been realised for my whole life!

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Is there any reason they cant use Steemit like Facebook? It would require getting everyone over here, but everyone would be making some money. They could post in both places, leaving a link in facebook to their steemit post.

Amazing value Jerry, thank you!

The steem technology is quite something something.

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Thanks for sharing (from bot)

Great post Jerry! This is one of the things that baffles me a bit at first glance b/c the transactions are through the roof, and have been, so it's one of the most used currencies. New members are flocking in by the droves but the price and especially the volume is in the tank. I think the exchanges have a lot to do with this, especially Polo. Once the exchange situation gets sorted out I expect the price of Steem to rise. I would really like to know what's going on with Polo and why they keep disabling Steem deposit/withdrawals. I'd love to hear your take on this?

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Poloniex now allow withdrawal for Steem already

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Exactly @orionschariot thank you very much for this comment because I am just about to release an idea for us to be able to work on this exact problem! With Poloniex essentially holding hostage almost 25 million Steem, we are going to need to work together now that Steem withdrawals are enabled to get the Steem out of there because it is easier to buy elsewhere and the price everywhere else leads off of Poloniex. If we get that Steem off there, the price will likely to up a lot just from lowering the supply there! I will do a post about this soon!

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Amazing @jerrybanfield I'm really looking forward to this post. Count me in to help extracting the steem from Poloniex.

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Thank you Adam I hope we can withdraw it soon!

This made my day Jerry. I am in it for the long run as well. The future looks promising

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@ew-and-patterns thank you for letting me know it made your day because that helps me know the post was worth making and to keep going with more like it!

That's truly amazing... I am very glad to see Steem as No.1 in handling volume of transactions and at the same time the number of new users coming to steemit is also very encouraging...Over the past 2 days we can see no fewer than 5385 new accounts registered with an average of 2693 new accounts per day on Steemit. Amazing growth for Steemit, thanks @jerrybanfield for sharing these statistics....Definitely now is the great time to buy Steem....

I really thought I would never go below 2 bucks after it got there...

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We had some early growth when my ad went live and I still think we have not seen anything like what is about to happen when it will go over $10 or $20 in a very short period of time! I am grateful now for the low rates and am continuing to buy more!

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Thanks for your comment. I'm still a believer as well. Just wondered about the time it takes;) Have a good day

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Thank you @ernstjan for your support here! Would you please vote for me as a witness at https://steemit.com/~witnesses by typing in my name either to make a vote or to proxy to have me vote for all your witnesses because it feels good to participate in what keeps the blockchain running by voting for a witness?

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@jerrybanfield, maybe do another post about the ads and use the funds too keep the ads running again :)

Considering the speed of transactions and volume of transactions I am still stumped why bitshares and steemit are not taking off.

What are you thoughts? Do you think they will bounce back in next 6 months?

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@gokulnk I do not understand the timing but it does seem nearly certain Steem will take off when the time is right which I think will be within a few months!

I really wonder when the price goes up again;)!

I think that the biggest advantage that steemit has over most cryptocurrencies is that is 100% mainstream user-friendly

Steemit has completely filled the gap between Blockchain and the mainstream user. You don't need to be techie or fully understand Blockchain to understand Steemit, you just use it

Thanks for sharing this interesting data @jerrybanfield :)

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Exactly thank you for explaining it so simply!

Question: I guess most of the transaction of BTC is through trading some of them are buying something.

While atm we upvote to appreciate good content but also to gain curation rewards, but only if we power down we can buy into BTC fe (lets keep SBD out since it is earned through writing). So we need to sell our Steem to get real life currency ( I include BTC here).

So why would it matter this much if it is the currency with the most transactions?

Dont get me wrong I really hope you are right, since I invested a good amount of money here but I dont understand it. Maybe I am just stupid?

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The amount of user activity is a huge indicator of value which is why companies like Facebook buy companies like Instagram for billions of dollars! Steem has a ton of user activity on it and it will only take one whale buying $10 million dollars of it seeing this to put the price up in one day from $1 to $5 or $10 without it coming down again! Until this happens we will know our value and then not be surprised when more of the rest of the investing and crypto world catches on! Most transactions = most user activity = most real value. The money follows the people especially online! Facebook and Google are worth so much only because of user activity.

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I get your point.
But lets assume I live in a village where everybody pays with rocks.

So rocks have the most transaction in my envirmont and I might have the most of them, which makes me the richest man in my village. In another village they pay with glass and dont value rocks at all. So if I move there I am the poorest.

I am not sure if this is a good example.

But the acceptance of the currency makes it valubale or? Not the transaction. Here we are in our steemit bubble where everybody including myself is happy to earn steempower. Outside of this steem is valued less, even we have the most transactions.

The activity on the site is another story and I am happy to see it grow.
Or is it in this case transactions=activity?

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I don't know there is only so much we can guess at ahead of time. It looks to me like everything is in position for a rise to the moon for Steem while a lot of other crypto bubbles will pop and fall apart because of lack of activity. Users = real value and Steem has more users and activity than everything except Bitcoin and Ethereum if we count all the related activities to those as well such as their forums.

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Jerry - slightly disagree. If FB and Google had same user activity but no revenue from advertising, they wouldn't be worth nearly what they currently are. They have very high market caps for two reasons - proven and growing revenue streams from advertising, and insatiable appetite to grow and innovate. STEEM needs both of these to get the price of STEEM way up.

STEEM On!!
DaveB

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a agree 100% dave

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In addition to what @jerrybanfield has mentioned steemit will always have the first mover advantage. By the time other distributed blog/social media website comes up steemit would have already had enough attention keep others at a bay. As long as steemit doesn't screw up badly we can fairly say that for the next two years steem it will be on a constant rise.

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here I totally agree! From what I know they also work on a decentralized videoplatform and even when they are not the fastest to publish it, they have the big advantage of having a huge community behind it already which is very valuable and others need to build first

I absolutely 110% agree! This will eventually overtake Facebook, twitter, Instagram and will be worth 1000% times more in 10 years time. Now is indeed the time to buy while it's still cheap. Once it hits around $100, wont be as easy...but I'll still buy more.

Another one to keep an eye one is IOTA. Huge value in that tech.

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Happy to see we agree on the when it hits $100 point because sometimes is it easy to think it is crazy as people must have thought the Bitcoin guys pricing $1000 Bitcoin were crazy.

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Yeah man, now is the time to invest...when it's cheap. And I wouldn't invest unless I truly believed in this social platform.

And it may take time for it to jump to $3, or $10...but if BTC is an example to us, we know that it's better to hold than to sell off. As for me, I'm pumping in as much as I can before the price begins to jump.

Yes, I guess Steem is the next big thing in crypto universe and people are crying over EOS. Steem has real value because it has already come into existence and a lot people have already connected to it. On the other hand, EOS future is still uncertain because it hasn't come into the existence yet.
I am also thinking to invest some amount in steem too. Thanks for you advice sir. @jerrybanfield :)

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I bought $1400 more today of Steem and funded my wife's account @laurabanfield with it because I believe my own hype too :)

@jerrybanfield, is it possible we see a $10 steem valuation in the next 12 months?

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I think it is possible in 2 months!

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That would be crazy! Especially for all of us who have been riding the Steem train for quite some time now. I believe that Steemit still has tons of exposure to gain, considering it is still in its infancy.

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Me too and I think video ads will help us get that because at least to my knowledge few other cryptocurrencies are doing an effective job with advertising on social media!

Hi sir,is this good time to buy steem or we should invest into any other cryptocurrency?

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@thecrytotrader I am only buying Steem which is the most honest advice I can give!

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Ok sir thanks.

The user adoption point is what has me excited for Steem! Most people hold coins such as Ethereum, Litecoin, Ripple, etc.. without really using their technology. But us Steemit users, we actually use Steem and it's technology! It's amazing! I'm actually surprised the word "Beta" is till in the logo up in the top left 😂

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@masteranibal precisely what excites me and the same experience here!

Upvoted because you wore a t-shirt this time. I hope you're right on how Steem is going up in the future!

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@howtostartablog thank you I will plan to continue including t shirts in most of my pictures ;)

Although I can definitely see your point, comparing steem and bitcoin is like comparing apples to oranges, sure they are both fruit, but thats the end of the similarities. I can go to the ATM use a card and pull out local currency using bitcoin, steem cannot. The amount of use cases is substantially higher for BTC, steem is limited. I love steem don't get me wrong, I just think you need to take off your rosy glasses. feel free to correct me if I've misspoken

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I think the point here is not which one has larger applicability, but which is the usage in real life. Most of steem transactions represents actions made on steemit. From monetary point of view is irrelevant, but from technical point of view it proves the superiority of Steem and of DPOS consensus algorithm. From usage point of view, is a some sort of currency which is heavily used.

Otherwise, I agree that they share the same differences between a bank and a social network. To some point we can compare them...

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Yeah Isee what you're saying, steem as a platform, with the user count growing and the interactions growing exponentially shows amazing potential and power of the algorithm, but it is limited to Steemit and a few other marketplaces whereas bitcoin is becoming ubiquitous. Also, I think the usage case is hard to put a value on, because there are so many bots and spammers now just putting up a few lines trying to be rewarded. More isn't always better

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But it proves that @dan's next project EOS will work and handle a heavy load of transactions. EOS has a future as a very robust distributed application platform.

The point @jerrybanfield is making is, it's early days for Steemit/Steem. Bitcoin started in 2009, Steemit in 2016. That's a seven year head start. Perhaps, Steemit/Steem will make it big, perhaps not. BUT if it does...

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Exactly the key differences section covers this! I am sure a year after Bitcoin launched in 2010 there was a lot of skepticism about Bitcoin and its future but I did not hear any of it because I did not even find out about Bitcoin until 2014. I did not think Facebook was ever going to be a big deal in 2005. It did make finding a girlfriend a lot easier! Steem has everything in place for an amazing future but no guarantee of getting there! Like the dot com bubble, most cryptocurrencies have almost no true value or transactions and at some point probably soon will go out of business. Those that survive as I believe Steem will because of the amount of users and transactions will have the best chance to be the investment of a lifetime today!

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When I joined facebook in 2005, you could tell it was already a big deal.

Lots of coins have potential but are still in the baby stage. Just because you believe something, doesn't make it true. With over 230 million coins on the market you believe steem can get to $10 per coin?! I would love to see that happen, but cmon now, you must be smoking the good stuff.

Good information, Jerry! Thanks for sharing.

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Yes ,, i think that is very likely to happen. Because the next seven years is not a short time. But possibly the opposite is also possible
thank you @jerrybanfield

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Yes @toniesteem happy to be on this journey with you!

We are in the very early days of Steem from what I'm seeing and there are a lot of directions it could go.

Steem is definitely unique compared to other cryptos in the way it is inextricably tied to Steemit. It is a coin fueled by creativity rather than the over-heated brute force of GPU mining rigs. For this reason alone, Steem would already have my loyalty but there are so many more :D

Nice video again Jerry, great job

Thank you for sharing this @jerrybanfield very informative and I will keep investing in steem! @joeparys

Thank You For Information @jerrybanfield. Now !!! Right Time to Buy More SBD or Steem.

thank jerry. good post!

Is claiming curation rewards considered a transaction?

cool

I could be wrong, but I think a comment is considered a transaction...so would a resteem and an upvote.

Not sure if you can compare apples to apples on that because it's easier to upvote and resteem (which is free to do) than send money or create a smart contract.

Very good one indeed and a call to buy steem. The future is bright indeed. Keep steeming.
Ques: how will you manage to respond to all comments if you post more than 2 daily?
wish you luck.

Hmm. Interesting info. Do you really think STEEM will be on the same value as Bitcoin though? That would be some dream - https://steemit.com/steemit/@jocool/steemit-the-dream-community.
Click and Follow Me: @jocool

Thanks you for informations..I will always wait for further information....greeting @jerrybanfield

I can see your point, and I think you're right about Steem surpassing all the others in time. Confidence and people are what make or break a currency.

Valuable info, thank you @jerrybanfield

Upvoted & RESTEEMED! :)

Naaah to say that the number of transactions drives the value of crypto is not 100% accurate but what is right is that it shows user adoption, which is very important :)

you smile is creepy :D tip! 0.1 noad

Hi @jerrybanfield! You have just received a 0.1 SBD tipfrom @cardboard. Noice!

@tipU - super easy steemit tips and sharing profit. Click here if you wish to learn more.
By upvoting this comment you support the service - thanks!

Your numbers show hope and promise . Who could deny that ? Yet of the top 100 crypto-currency's we have dropped from 15th place down to 21st this morning just in the 6 odd weeks I've been hanging around .

Informative as always. I like to say that agree with what ginacarole has said.

@jerrybanfield
Great Info. Truly appreciate & thanks for putting it across !!!
Possibly Steem will have a larger base, if not equal to Bitcoin, sooner, but I hope there is a different story in the future with Steem being more acceptable and appreciated like bitcoin.
However we have to, at this stage, realize the wider base of bitcoin and its true global acceptance as first cryptocurrency.
Steem will grow and should grow, nothing can stop it, I strongly believe and all the facts associated to it, but with time, ofcourse !!!
Cheers!!!

nice information

I agree in many respects! It is worthwhile to closely monitor the progress and accumulate Steem

I'm writing this comment only because somtimes u give random likes.

i Upvoted & RESTEEMED post

Thanks, jerry for this helpful article but ... why do you always show your head everywhere ? just curious. Peace !

thanks a lot jerry.go ahead.we are always with you..

i am new please upvote my post.

This is very interesting information
Will this happen?
I really hope steem will be priced like bitcoin
And now have started storing it

The numbers seem to be on the side of steem... I agree with you on this one

I also share same thought i am bullish in steem.

steem will definitely be a valuable coin in the future

Beautiful, so increase in STEEM transaction is the key. Cool. I'll buy more STEEM TOO

Really beautiful .. thanks for the information .. hopefully we can cooperate .. follow me @riansteem .. may be a friend

wow great article sir it should helps all steemians alot thanks jerry.

Excellent post. I'm too planing to buy more steem. Thanks Jerry.

Thanks for sharing @jerry. Truly steem has a great value

way to go steemians...we know bitcoin is bitcoin... its a legend.... in cryptocurrency.... but steem is having a great future... we will be on the high rank soon.... so lets spread our wings steemian.... lets fly high....

Hey Jerry thanks to you Iam now part of this community been following you on youtube and cant wait for new videos. Kindly follow like my post that would really be awesome. Chat again

Cool video thumbnail! :)

Thank you for reporting @jerrybanfield.

thank you jerry
you are awesome

@jesta is always providing us with useful tools

No, doubt Steem is the king in Crypto-universe. Steem on!

Hi Jerry, this is Max your neighbor from Clearwater. Thank you for videos, trying to learn all this digital stuff. Very exciting though. Keep them coming, I could use all help I can get...

I've only been investing in Crypto for little over a month now. Steem has always been my favorite coin since day one. I love the platform, and I have high expectations in the long term. The community is growing, and post like this from @jerrybanfield really is a boost for all of the investors and Steem users.

This is very interesting. Lemme re-read your article.

Great info and research. I truly think Steemit could push its way to the very top of the pops. The amount of creativity and the dedication this community has is mind-boggling and I think that is what is going to make STeemit #1.

Inspiring read! Thanks, @jerrybanfield!

Thanks @jerrybanfield very interesting post.
I'm growing up with your technical advice..

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Transactions per day is great and all, but the bottom line is value.
Moving chairs around on the deck of the Titanic did nothing to change the outcome.
Real value has to come in at some point, and Steem just hasn't shown any more REAL value than monopoly money.
I think Steem has potential, but right now throwing around these numbers is pretty irrelevant.

There is a steem transfer problem with Poloniex for now. Watch out.

What good information, I hope that in seven years we will win more.

Thanks for sharing the info @herrybanfield, I'm a new user to steemit myself and I have high hopes for this currency, and site there are many users and I'm sure in the upcoming months more which would be joining this amazing community, I am planning to soon buy my own steem.

Thanks.

Is this data global, or just across one individual exchange?

I would also argue that Steem is a data and value based block chain where Bitcoin is a value only block chain. Ethereum and EOS are code and value block chains.

I think those distinctions will matter now as they get used more. The latter 2 categories will add more value to the net. Then the next question is the cost of overhead both transactionally and in bandwidth.

that was a great question to ask. great video man!

Congratulations @jerrybanfield!
Your post was mentioned in the hit parade in the following categories:

  • Upvotes - Ranked 2 with 501 upvotes
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Thank you so much for covering the potential of steem and running us through the stats that really show this. I'm also very glad that you covered the number of transactions and how this can be a good indicator of other cryptocurrencies to invest in. This is so helpful, I can't stress that enough :)

One thing this is great news! Other point it that Steemit blockchain will be huge and to maintain whole data soon will be problem. Do you think it will be manageble to fix?

In only seven years Steem price will price like Bitcoin today? How did you come up with the timeline may I ask? Just curious..

Good job Jerry !

it is a worthful information

Do you think EOS, being by the same designer as steem is a good value? Would it supercede your predictions of steem?

Informative post, @JerryBanfield! It will be great if Steem breached $10 and then $100.. :-) I agree with you on the importance of transactions as it relates to the valuation of cryptocurrencies.

Its very nice seeing steem growing up. I think that platform will get massively big !