Steemit - Steem 100 dollar price tag

Is Steem 100 dollar price tag realistic.
100 dollars EASY

So there are several reason why steemit is one of the newest and boldest currencies on the market. It does not diectly focus on mining as the one way to make steem coins. Instead it uses blogging. Wow thing about that what other coin or crypto coin or alt coin has the ability to make coins from blogging. We are actually doing work and contributed to the eco system. As far as Bitcoin goes it just does nothing, but has an intrinsic value, don't get me wrong I like bit coin.

If people are doing work for the generation of new coins, well that fact alone means the intrinsic value is higher. How high, well its better then say litecoin that u do no work for, but instead by expensive mining equipment to get coins. Lets looks at the top 4 coins an break this apart:

ok so you get the picture lets break this down:

1. Bitcoin - mining is the only way to give it worth and it was the first.
2. Ethereum - mining again, but it has a network to support other Initial Coin offerings, so this is why its gone up so much, this is kinda why Bitcoin is big too. Most exchanges require you to use Bitcoin to trade in all coins. Most.
3. Ripple - is centralized, u can not mine it. Reason why its so big is very low transaction fees , banks are backing the currency, so to pump 1 billion in is nothing. Since currency market trades 4 to 5 trillion a day.. thats one thousand billion. WOW
4. Litecoin - same as bitcoin with different mining hardware, came later to the party.

ok the top 4 coins are based on mining, backing of banks and thats it.

What if we had a coin backed by work, u did something and then coins where generated. Image a system where you helped out someone u did not know, put that on a blockchain and pople up and down voted, wow that is powerful.

So lets see where the price is today of steem:

ok Stee today is at 1.14 cents. Here is the main reason why its so low. There is not enough Steem coins for big whales with say 50k lots to trade with. U say wait a minute, well its kinda true. The market cap is 267 million and here is the but. Most Steem coins are locked in as Steem Power, my calculations come to about 90% of Steem is in Steem Power. Ok, so here is why I think the price will explode.

When majority of the population work out that Steem is a coin that can be made from doing work they say there is no other coin really like this in the top 20. Sure there is Golem and Bitshares, but these coins use existing material ; like Bitshares is a resource sharing network, so you already have things to lend out and Golem is just making Advertising easier. So no new content is created, just an exchange of existing advertisement for displaying and sharing of existing stuff. If one of these coins said, if you create a car or tv, we will pay you coins out of thin air and you would need to give us that car to give to the community. This is kinda what blogs do and they are an asset based on your time put into the system. So if you are looking at Steemit, your attention and time is valuable and makes the system intrinsically more valuable.

Ok so the price sucks right now, but the most explosive coins are the ones no one cares about, especially if right now Steem blockchain has more traffic then Bitcoin. Thats right, so just image that. So if I apply a simple formula the market cap of Steem should be easily equivalent to the revenue of Facebook, which is

27.64 billion USD

ok there are roughly 233 million steem shares.

if we divide :

27,000/233 we get 115 dollars.

So I am buying Steem and writing Steem post everyday to benefit the community and store some of my personal wealth. Facebook could be dead, or is that my next blog post.