The value of Steem should be around 350$ today. Here's why. [2 minutes read]
Most people aren't sure about the future of Steemit.
Many accounts are cashing their Steem Dollars after a good payout.
Few people is investing in Steem., otherwise Steem value would be really higher.
Steemit is not going to be a success in 100% of the futures.
But, should it have success, it would just make no sense that people continue using old social networks like Facebook.
If Steemit has success, than its value will be much more than 350 billions, the actual value of Facebook.
If you do the math, this means that holding 1 Steem Power now, would mean having a value of 3500$ in that future.
Most people doesn't see this happen: they have a scarce capacity of imagination.
And this is exactly why, who really believes in this project will realize a profit that will be so high, that it will not be measured in dollars: it will be measured in Steem.
The value of Steem at 2$ is just a gift for whoever buys Steem.
The value of Steem should be around 350$ today, because this project has at least 10% of chance to have success.
The remaining 90% (failure of Steem or stagnation) could be determined by the following problems:
the account Steemit holds about half of the total Steem Power: it is clearly there to avoid that the entities that have much to lose from a Steemit success try to takeover the power just to make Steemit fail, but this will still be a problem in the future, because one account holding so much Steem Power means no decentralization. And the eventuality of a password steal from some obscure entity is not just a fantasy but a serious possibility.
Too much new accounts are getting too few for their posts, and this is caused by the centralization of the Steem Power in just a few hands, and by whales voting just a few posts with an high voting power.
An other similar project starting with less "premining" and/or with a powerful investor.
The funny situation is that, while some dolphin can cashout his Steem at a very low price to realize a short term profit, the founders and the other whales aren't in the condition to do that, because until they find a solution for the 2 problems, selling too much Steem would just cause Steem to lose most of its value (and this is why Steemit is not a Ponzi. See also this post: https://steemit.com/steemit/@freiheit/why-steemit-isn-t-ponzi-scheme-3-minutes-read).
I believe they will do all they can to avoid such a failure.
And I seriously hope they have enough imagination :)
I'm really new to the whole digital currency thing - but I know writing - and that's really why I'm here....to write with the HOPE that I'll make some money off it. One can dream! But what I really like about this platform is that they have a built-in way of sustainability, which far surpasses anything else I've seen on the internet (queue: Bubblews & Tsu - failures). So while I've only made pennies, anything worth powering up has done exactly that. A dollar here or there probably won't make a difference but it's my tiny contribution to a place that I believe in.
If/when people lose faith in fiat currencies, I think there is a chance Steem hits $3500, but US dollars will likely be worth much less than they are today.
$350 may be a stretch ($35B is 3x the current crypto market cap), but I do agree there is room to run. Steemit is most similar to reddit at this stage, but I would love to see it replace fb down the road.
I see steemit having a bright future we just have to hop on this train and make this money rightnow don't you agree
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