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I'm glad you have eyes that see! :) ... steem is waaaaaay undervalued imo as well ...

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That's good to hear, I thought I was missing something! But I think I am on the right side of the debate on this one, I guess time will tell, but I remain very optimistic about STEEM

We are on the same page brother. I also think its very undervalued hence why I'm in full accumulation mode right now.

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Me too, it's super cheap in my view, been picking up as much as I can. Compared to all the junk out there, steem looks like a great purchase

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I'm with ya!

Firstly the community on Steemit are THE BEST! The majority of people that hang around really do seem like some of the kindest people I have ever met (you are a prime example of that @meno!) . And that statement on its own is a reason to be here regardless of the income opportunities.
But boy, the potential! I almost burst at the seams just thinking about it!

I reinvest everything I earn back into the system and really hope that there isn't something we have missed here that means it's all for nothing. Even if that was the case I'm making sure I enjoy the journey and learn as much as I can on the way!

Just like you @meno I love helping others and this is the perfect platform to be able to do that!

$1000 - oh boy, wouldn't THAT be something!

If it does, I will put on a diaper.

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Promise to send pics?

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Better with diaper than without man!

If steem hits 1000$ a piece.

then people with just 10sp
could give upvotes worth 1$.

That would be amazing :D

The value ofSteem in dollars is complex. The dollar is not stable!

You are missing one thing, steem splits every 3 years by 10/1, so the price would also go to 10x, are you putting this into your math? because that would make steem price go to 10.000 each steem, but everyone would also have 1/10 of the original steem

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For simplicity, I have ignored the annual inflation which is less than 10%. I am assuming that's what your talking about?

The reason for ignoring it is all other currencies we are comparing it to are also inflationary.

Otherwise, I am not sure what you mean by everyone holding only 1/10 of their original amount in 3 years. That would mean a steem inflation rate well above the ~9.5% that is governed by the blockchain.

Do provide more details as I would like to understand

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I guess you didn't read the whitepaper... this is coming straight from investopedia:

Every 3.32 years, the Steem network undergoes a 10:1 reverse split, meaning each 10 Steem tokens become 1 Steem. This effectively limits the window of quantities of Steem which are available. At the same time, the value within the broader network gets redistributed over time, so that users who are more committed to holding Steem tokens of various kinds end up with a greater portion of existing tokens.
The number of Steem available is set to double annually, making its supply growth exponential - a possible drag on its future value in the market - but there is a catch in that every 3 1/3 years, there is a self-generated 10:1 reverse split in the supply, resetting the process. For example, if the total money supply where the following: (See also: Bitcoin Extends Rally)
Year 0: 500 Steem
Year 1: 1000 Steem
Year 2: 2000 Steem
Year 3: 4000 Steem
Year 3.32: 5000 Steam (reverse split now occurs, and the number of Steem goes back to 500 and the process starts all over again)

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Let's stick to primary sources, I have no idea how accurate "investopia" is. The white paper can be found here:

https://steem.io/steem-whitepaper.pdf

You want to go to page 21 where it says this:
Screenshot_20180720-151421__01.jpg

I couldn't see anything about the reverse split, feel free to point it out and I will take a look.

Thanks
@kabir88

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Ok, it seems that the whitepaper was updated 11 months ago into a new form and the reverse split info was removed... my question now is, the info was removed or the function was removed? Probably the function, guess no more reverse split :P

https://steemit.com/steem/@steemitblog/a-radically-updated-steem-whitepaper

look here into the "changes" in the new whitepaper, it seems they removed the split

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Thanks for checking! You had me worried for a second.

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NP, being wrong is part of being human xD But the thing is i could understand the reverse split.. it would "hinder" hyperinflation a little... don't you think?

Regards @kabir88

Could this be possible in the Future to have the steem to 1000 $ ?

Hopefully the steemit/dtube/dsound community will grow day after day

Feel free to enjoy some of my music if you'll visit my page

Regards

Nice work man, we shall see

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Thanks! Making the case for optimism :)

To be honest, i think the max value Steem should get to is 10$. More and even more more, would change the purpose of Steem and its Network. Bots will be taking over the Steem World, fighting a war against the simple User and every Chance to have a glance at the spot where the sun shines the most. It is a hard world, but a steem prize at 1000$ will have short term effect but affect the global life of everyone. No one will work anymore, they will write comments, just in hope to get some thousands of dollars for a pretty smiley or something like 'awesome post', wait that is still to long, just 'post' (yeah that seems right). Long term, the fall of Steem will lead to the fall of every other crypto currency.\

JK, but really, steem should not rise too high.

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I guess the witnesses would decide to change the payout structure if that happened though to keep it from becoming a money printing machine for spammers?

I heard an interview with one of them a while back where they were talking about using their collective power to try and peg SBD near the US $ and allowing STEEM to rise to attract investors. If it stagnates then it will only be attractive to users of the system and not investors? Can't say I understand much of it but that's sort of what I got from it!

I can see that you have invested some ££ into STEEM, just like I have. Its good to see someone on the same wavelength and who believes.

Great post and great to meet a fellow UK accountant who 'gets' cryptos and especially STEEM!

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Hey man! Nice to meet you too!!

It's a lonely place our there for crypto believers. Where in the UK do you reside? (Postcode not necessary 😜)

I asked about crypto on my twitter feed. This is what I got so far. It's depressing, but also means we are super early! Lots of new adopters yet to understand and come onboard

Screenshot_20180720-122854__01.jpg

Not a big enough poll to be statistically significant, but still interesting

@kabir88

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Hey, I am based in north wales although most of my clients are in and around Manchester and London.

We are super early which has its pros and cons (as your poll suggests). I can see some exciting stuff for cryptos and partic Steem in our space in the coming months. As well as advising on tax aspects of cryptos, I'm super optimistic about prospects of funding businesses on the blockchain...

Exciting times ahead!

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I think we can all get a biased view being so immersed in the crypto world every day. It's easy to forget that 90% of the public only ever hear the media's portrayal of "Bad Bitcoin" and don't see all the amazing projects utilising blockchain technology.

We are still right at the "bleeding edge" and it's really exciting to be part of if you ask me!

So much interest from the big boys such as Goldman Sachs et al now that the next few years are going to be amazing imo!

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Remember when Time Warner bough AOL because they wanted to own the internet...

Am waiting for that moment in Crypto. Will be amazing 😜

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I think there will be a lot of attempts by big business to buy up services like Steemit. Be interesting to see if "money talks" or the main players can stick by their principles of decentralised ownership.

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Oh and I am in the South East of England. :-)

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A fellow Brit!! Welcome!

Agree, I’m looking at the big amount of apps being developed on Steem, it can certainly reach at least 100$ considering all SMTs will be tradable for STEEM. 1000$ might sound insane at the moment but if a centralized social media like Facebook, where nobody outside of it can develop anything and gives no value to their users, has a capitalization of 500 billions...imagine a social media platform where EVERY entrepeneur in the world can build their idea on top of it and users can get rewarded for their ‘proof of activity’...it is huge, unfortunately most of the people will realize when it is too late.

I agree with you buddy. After i read the steemit whitepaper it dawned on me and my senses that there is more into #steemit than the people know, a wise man is the one who will digg deeper into learning steem like a school syllabus and curates high quality articles because steemit can pay folks if they are committed and learn how to balance their gains. Steem prices MIGHT rise to $800 by December. That is my opinion and prediction. If you agree with me give me a quality vote!!!
I LOVE STEEM MORE THAN SBD BUT BOTH ARE ACCEPTED HERE.
steem-accepted-here-20171210-454x256.jpg

Did you shoot this in India?

Nice post. You are eligible for Byte bonus. Check for details. https://steemit.com/upvote/@soniya/get-usd5-usd160-from-byteball-airdrop-hurry

Thank you, valid points. Let the Steem rise!

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It will eventually... Assuming we don't have a whalepocolips. Where whales just take too much and everyone else decides to go somewhere else... Maybe a fork of steem

This was very insightful @kabir88, glad it's what I woke up to after a resteem by @fulltimegeek. Just the daily dose of motivation and eye opening I needed.
I think @phoneinf would appreciate your insight as wel, he's always talking abut the same thing, or close too. Here you go Adrian!

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Thanks @elsiekjay, I am glad you enjoyed it and thank you for the comment. It gives me the motivation to create more content on here!

@phoneinf come and say hello!