Does Steemit can make you a $ Millionaire? (Today's figures)

 One month ago, I wrote a post about the potential rise in value of a steem power wallet when the price was around 4$ and Steemit users were 25k. Here is an update with today figures (Steem price and Steemit user’s figures updated). My conclusion: A great time to enter the boat :)

I find this project totally amazing and disrupting and really believe like most of us here that it could deeply change web economy, and be a popular example on how things could also change in other industries and society. 

How could I then support and maybe profit from the probably huge interest that will arise from the Steemit experience? 

                                                                 

Maybe by investing some cash in steem power… Can that make me a $ millionaire? That’s another question.   Working in the finance industry, I found it interesting to produce some quick projections. How Steem market cap would have to grow to make “not so early” adopters rich with a medium sized wallet? Let's do some basic maths."

                                                         

 Hypothesis: 

Let’s say I buy 2000 steems (500 in my previous post for a 1.8K$) and power it up in my wallet.  I know that at medium term, Steem available supply is meant to double each year and that Steem power will offer a 90% interest rate to protect its holders.  How should then Steem market cap grow on a yearly basis to make me a millionaire in let’s say 10 years?

 

Wow, to make me a millionaire, Steem market cap would have to rise over 109 billion$ (340 billion$ in the previous post), almost 3 times less than Facebook market cap. It should grow at a 98% annually rate (100% in previous post) during ten years, which would let Steem coin price slowly decline to 0.82$. Let’s imagine a Steemit user is worth a Facebook user in term of business/added value, Steemit user base would have to grow more than 140% annualy (200% in my previous post) to reach approximately 528 millions of users, two time reddit users.  

At the time I write this post, Steemit market cap per user is down to 1,4k$ (13k$ in my previous post), in our growth hypothesis, Steemit market cap per user would go down to reach 230$ per user in 10 years. 

In my last post I wrote :

“But is such growth sustainable? Will Steemit, even in an ever-evolving form and ecosystem beat a giant like Facebook in the long run? Although we all think this experiment will turn big, that’s maybe too optimistic.”

This time, no need for a reddit hypothesis like in my previous post, we don’t need a Facebook like growth to turn a 1.8k$ investment into 1 million $, but a two time reddit growth.

 Conclusion: 

Steemit does not seem to be a Ponzi scheme, nor a magic millionaire’s fabric. But if you believe it will grow to a more than huge social network like Facebook or even Reddit, it does not seem a dumb idea to invest some money into it :)”

With the recent “healthy” price collapse, investing in the Steem network seems even more interesting, the market cap per user has greatly declined to a more reasonable figure and this consolidation seems to be a great opportunity to power up some more steems !    :)

                                

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