The value of Steem and its users: 1 Steem user = 10 Facebook users!

in steemit •  last year

Steem is special for a blockchain. It delivers a working product used by end users and competes against old school social media companies as on open market driven approach. This is special because pretty much any other blockchain I know of is providing some sort of experiment or solution that is still in developement and hence speculative in nature, meaning we don't yet know if it will work and how.

Examples:

  • Bitcoin. Designed as an end to end currency has to go through development life cycle and be used by a large portion of society before it can become both store of value and currency.
  • Ethereum: Great platform but so far no real applications that have shown to use it effectively with end users in a way that provides advantages over company approaches

There is nothing wrong with this; it is simply part of the development cycle of these techs and projects. We as steemians are just lucky we get to use this tech already in our daily lifes.

Steem is being used every day

Steem on the other hand is making money for bloggers commentators and other social media activities.
Significant is that while we have high transaction volumes vs other blockchains like bitcoin and ethereum these transactions are done by real end users. What I mean by that is examples like @sweetsssj who does not seem to be the averge crypto nut like most of us boys out here.

U5dsQFcRyW42ZEWh8m77SA5K8N2Y1Kp.gif

We can compare Steem to other social media solutions

The other day I asked for the amount of active monthly users steem has and @penguinpablo provided this answer (Please follow and upvote him he is proving great reports):

steem_active_users.jpg

So currently :

facebook-users-snapchat-twitter-youtube-whatsapp-instagram-wechat-qq.png
(source: https://techcrunch.com/2017/06/27/facebook-2-billion-users/)

What are social media users worth?

Lets look at the market cap and divide it by the amount of active users. I have simply pulled the market cap from Google and divided this by the amount of active monthly users.

Steem: 250m / 100k = $2500
Facebook : 485b/2B = $243
Twitter: 14b/328m = $42.68
Snapchat: 17b/255m = $66.67

We can see a very high divergence between Facebook vs the other guys and Steem users are valued about 10x as much as Facebook users.

Steem user are 10 times as valuable as Facebook users.

According to the metric above, Steem users are as valuable as

  • 10 Facebook user
  • 40 Snapchat users
  • 60 Twitter users

At first glance this may be un-realistic however there are a few factors that make it clear why Steem users must be more valuable:

1. Growth Potential

Steem is in its infancy relative to these other social media applications with only 260k users vs a few hundred Millions and Billions. As such Steem has a lot more growth potential and that is represented in the market, since the market does like growth potential like nothing else. It is almost impossible for FB to grow 10x while its possible for Steem to grow 2000x if it comes close to usage as Facebook and market cap (500b/250m = 2000).

2. Reward System with real value

Steem has an integrated reward system that is financial and infact provides a whole financial system. All social media sites have reward systems but they are NOT liquid value. This improvement can only be done with the technology of a blockchain and is an order of magnitude improvement over anything else we have as reward system. A Steem upvote is certainly 10x as valuable as a Facebook like to me. That of course is more of a believe of mine, but if true would mean that Steem given similar functionality should be worth about 10x as much as the other social media sites even without growth potential (i.e. 2B users would be worth $5T.

3. User growth

Steem is proven which is shown by actual users and sick growth. One year ago we had 20-30k users. Now we have close to 300k. That is 10x growth in a year. If this goes on we are at 1M in one year. That would also mean that the market cap of steem has to grow by 10x to 2-3B. Take a look at the growth that @penguinpablo has shown with his data. Now check your account and project what it means for you personally. If the number is not impressive maybe you should buy more Steem. The actual growth and the growth potential of Steem is worth at least one order of magnitude.

4. Users own it

There is one key difference between the market cap of Facebook and Steem. Steem stake is owned entirely by users, while for Facebook it belongs to funds, investors and Mark Z. The value we create here goes directly back to us, or to the people we interact with that provide value to us with their social media activity. This is a much more effective and productive incentive structure and I believe is also worth an order of magnitude in terms of value.

5. Best Coin & Financial System

Steem has perfect connection between its different currencies and seperation and is an entire financial system that can replace the $USD and lots of banking and even bitcoin. It is the only blockchain I know with an effective stable coin (SBD) a great stake coin (SP) and the normal liquid blockchain type currency. This is much better than any other blockchain and way better than fiat money, likes and company shares. While the Steem coins are all directly connected (ultimately they are all Steem) they provide the perfect separation to do stable value, stake and rewards. I think this aspect is least understood and realized so far.

There are tons of other benefits but I wanted to focus on these most significant and structurally different aspects of Steem and its design.

It is not just the money

Money is always important, but to me personally the intangible things Steem has created for me really shows me that it works. A great example is my friend @surfermarly which I introduced to the platform. She has created content I would never have seen and this has led me to meet her in Vegas to celebrate just that and meet other steemians .
steem_meet.jpg
The joy these sort of things have created for me far ought weighs the value of my account to me.

I think Steem is cheap

However this article is about financial value in the eyes of an investor. I think Steem is quite cheap at the moment because I have listed at least 3-5 aspect that improve the value of Steem compared to other social media investments by an order of magnitude each.

  • Steem has the potential to grow 2000x if it reaches the size of facebook
  • Steem has a financial reward system that will trump any existing social media app with rewards that are no more than a virtual thumbs up
  • Steem is currently growing 10x per year
  • Steem is owned by users vs investors which should create better incentive to improve and innovate
  • The potential to also be a global currency system due to its coin separation and super fast blockchain

So overall just one order of magnitude higher price than Facebook is way to cheap for Steem in my opinion and it is fairly likely that we will see a steem price of $10 within a year or two.

The most important thing to monitor will be usage and user growth which we can easily monitor (i.e. by following @penguinpablo). We can keep the comparison of market cap per active user as a benchmark to understand if Steem is currently cheap or not.

I would be very interested to hear your thoughts on the value of steem and its users.

Please upvote and share this article if you like it and comment if you have some thought about what I have written.

Thank you for your attention

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Great analysis. I think it is a very good idea to look for ways how to evaluate blockchain projects. The market will mature over time and the price will be based more and more on those analytics. It would be great if you would provide the value regularly as statistic like @arcange and @penguinpablo are doing so for other aspects (great work guys!). Or maybe they can add that aspect to their statistic they provide?

·

Yeah, this would be nice!!!
@knircky are you listening? :-))

·

Agree. It would be handy for us to look at statistic and evaluate the growth. Looking forward for it :) Thanks @knircky @famunger Keep it up guys :)

Great analysis! We are all still early adopters. The best is yet to come!

Thank you for the mentions to my account :)

·

Could not have written this without you!

·
·

Great job. 😊 Feel free to follow me @justynatina and upvote. Cheers 😋

Hi @knircky ,

Thanks for your article

Few days ago i compared Steemit, Steem with Foursquare, Flickr and Myspace in Google Trends:

The last 3 months steem and steemit had a lift off (blue and purple lines) (others are still declining)

https://steemit.com/steemit/@techtek/google-trends-chart-comparing-steemit-steem-with-foursquare-flickr-and-myspace

This is a Google Trend chart comparing Facebook and Twitter over the last 5 years:

Very excited to see that Steemit is experiencing big growth and it sure makes curieus what it can bring the world in the near future!

·

Awesome! Thank you.

·

So many adoptors already, just wait till we get to the big masses.
You now get 10.78 USD for just 4 votes. Imagine you get 10.000 votes for a reply.... thousands of dollars for reply's!

Blog posts could get worth $1,000,000 !

You are over evaluating the number of active users per month. Maximum was reached on 2017-07-18 and is 22k (22445 to be precise).

You can check on my daily stats to have a clear view on the evolution of active users.

That said, having fewer active users only reinforces what you mention about the value of Steemit.

·

Nice work knircky and arcange, i follow you both, awasome informations. Steemit fundamentals are very strong with a positive loop economy effect.
No doubt adoption will continu to grow at high rate.

·

I just start to steemit.com and I become addicted :)
I came here every day to see what new and add some comments to the post that I like.
I am 1 of 22k :) that work to make steem it bigger and better.

·
·

Cheers for the daily stats @arcange. Highly undervalued content and worth the follow!

·
·
·
·

what about think steemit is really pay out ! what about to say

·

So are you saying all this https://steemit.com/steemit/@penguinpablo/steem-stats-active-users is wrong? He has the daily users at 20k, weekly at 50 and monthly at 100k. Also 20k monthly seems low given that we have 100k unique visitors a day according to hypestat. And would be less than 10% active users. Can u please explain?

Obviously if u are right the numbers would change quite a bit!

·
·

Here a special preview for you of the monthly values, where "active" means made at least one post, comment or upvote. I will add it to my next daily stats.

·
·
·

That looks more in line with the data from @penguinpablo but still not 100k.

·
·
·

Strange... My figures are a lot higher. I count 23,906 distinct users on 2017-07-18. May: 33,655 and June: 89,950.

I also count the accounts that made a transfer, power up/down or downvote, but I don't think that will make such a big difference.

I will count only the active curators tomorrow to see if I have about the same figures as you have.

·
·
·
·

i think it is correct to include any activity into the active starts.

Thank you for checking in. It is always good to verify data. It seems clear that the 20k monthly users however cannot be correct so i think overall my analysis should generally hold.

But 60k active users vs 100k is a bit of a strange difference if i read arcanes chart correctly?

·
·
·
·
·

Definitely curious to hear what the consensus is on the N* of daily active users after these comments.

·
·
·
·
·

For the last 30 days (June 20 - July 20)

All active accounts (including account_create): 105,889
Active accounts (excluding account_create): 80,141
Active curators only: 68,614
Active authors only: 53,510
Active curators and authors: 75,436

·
·
·
·
·
·

What does "including vs. excluding account_create" mean? Is the simple creation of an account already considered being an "activity" though?

·
·
·
·
·
·
·

Yes, that's right. The creation of an account is the first transaction of that account. But it's better to exclude it, because the user hasn't really done anything.

·
·
·

To calculate the "active" accounts, I have included any transaction that has been made by an account. This can be a post, upvote, downvote, transfer, sbd conversion, power up, power down or even the creation of the steem account itself.

Here are my calculations for the month of June:

Total active accounts: 89,950
Active curators only: 52,750
Active authors only: 42,124
Active curators and authors: 58,904

Good to see we have almost the same numbers :) The difference is, how to define an "active" account. I have included the creation of an account even if the account won't be used thereafter. If I exclude the 'account creation' I count only 62,532 active users in June. To my surprise. It seems a lot of people sign up without using their account thereafter. I did not expect that. I will exclude those accounts in my calculations from now on.

·
·
·
·

@penduinpablo, we could talk endlessly on the definition of "active user" ;)

I consider authoring (posts and comments) and curation (up/down votes) as the main activity with added value for the platform, hence my definition of "active" restricted to that.

·
·

not withstanding possible slight differences between the numbers, I think you still make your point very well. It's also right in line with how I concluded my post "Managing Expectations when trading SBD for STEEM" (also added your link over there as well).

Furthermore, this "dynamic" was also part of my incentive to release my latest script for STEEMIT users: "Post Vote Slider and Past Payout Monetizer... and next, here comes SteemTUBE...!

And in case I didn't quite make it clear, terrific article! :)

·
·
·

Nice to see Steemians linking to related articles offering tons of value, definitely helped me a lot and you have yourself a new follower. @alexpmorris
@knircky

·
·
·
·

glad you found them so useful @blockchainttmft, upvoted a few of your articles as well and followed. I even "Past Payout Monetized" one of your recently expired resteems as well! lol

·
·
·

Thank you. I had not seen these post I am following you now!

·
·
·
·

thanks @knircky, can't add anything to that though, was already following you too! :)

·
·

So are you saying all this is wrong?

Daily active users looks correct, even if we might argue on the definition of "active user".
For the other values, it is something I need to check.

·

Interesting. My analysis 4 days ago showed 35,656 accounts have made at least 1 post this month. You know steemit way better than me @arcange, maybe you could have a look at my post and see if we can find the difference, the post is Steemit Retention Problem Database analysis

·
·

@paulag, my first guess is that you counted post created by newly registered accounts on a specific month where I count regardless of the account creation date.

But , I would need to see the query you used to accurately find why the difference.

You can DM me on steemit.chat or via Telegram (@VIM_Arcange)

Talking about value: you've just added a lot of it by publishing this article.
Second position on the trending page!!! So proud of you 🙂

Thanks for mentioning Vegas again, it's been a blast!

·

much love!

·
·

Same same :-*

very interesting post.this is my first time here.i found so many interesting stuff in your thread especially its discussion..

·

Thank you so much! Always happy to have a dialog!

·
·

welcome dear brother

My friend as I saw you share a well article please allow me to translate to chinese in order to spread it more to community,thanks! Upvote me if you like this action!
link here : https://steemit.com/cn/@incrediblesnow/steem-1-steem-10

·

Yes go ahead and translate it!!

I stumbled upon steemit in my crypto research, joined for the money, and stayed for the community. Seriously, I joined one month ago and never have I been proud to be a member of a social media platform. The community of Steemit is supportive and encouraging- there is truly nothing like it on the web! I am so happy to be here :)

Thanks for the post, great write up!

·

@arbitrarykitten... I took the same path you did. So ditto🤣!

·

Totally agree!

Great post with positive outlook for Steemit growth.... Like with all the other crypto we are in early infancy with Steemit and the gorwth potential is massive. Like you have pointed out Steemit has a real case use unlike many other cryptos that are in some way or the other clonse of BTC. Steemit is very unique in that way and also in the way compare to other social media since the users can be rewarded for their input. It would be also interesting to see what other features could be incorporated into the steemit platform. Since people are holding real money here it would be interesting to see if those can be exchanged for real products by steem being added to big online retailers such as E-bay or Amazon. I think that would be really massive! Oh, well, who knows, maybe in few years time:).....

Good post. Thank you for sharing.

Well written article,

To me what got me onboard is the fact that users and posters will own the social media platforms vs traditional investors. Which really is thinking outside the box to decentralise and give power back to the people by letting them think for themselves, through the social media market and not be spoon fed anymore. Time to wake up hs come!

I couldnt imagine facebook, twitter, snapchat or their media mogul overlords being happy with this at all!

alhoppo

·

If this is the case, how exactly do the developers of Steemit get paid for improving the platform? I specifically wonder how @good-karma got remunerated for developing esteem which FYI @jerrybanfield reviewed here:
https://steemit.com/esteem/@jerrybanfield/esteem-ios-app-first-impressions-201777t131752942z

Terrific facts and analysis. Thank you!

Nice, thanks for sharing! I just started a month or so ago, and have invested a good chunk here, as I as well see the potential benefits. Upvoted and followed, thanks again!

Good post and nice stats, I think steem user is worth much more than 10 Facebook users for the sole reason that a steem user gets paid for posting and upvoting, while on Facebook revenues stays with Facebook investors and executives. So for me, this platform is priceless compared to other social networks and hope to see this growth continue and accelerate.

·

Thank you for this comment. Yes i agree this is probably the biggest driver!

Good post but if you've got some clout can you bring some attention to the following in the hope the founders do something about it - thanks https://steemit.com/steemit/@katythompson/to-the-founders-ned-and-others-quick-wins-to-make-steemit-less-complicated-for-newcomers

Steem is potentially huge. It is. But I think, right now the tenfold worth of steem user above facebook user is anomaly. This monetary worth is from market speculations on crypto-hype, not from actual worth of steem as a media-platform.

But in future...

Wawwwww amazing persentation about steem and cryptocurrencies @knircky. You are greates writer in writing blog. I like your style my senior. Thanks for sharing this information. I have flower to in my blog. That myproffesional edited for amazing writers. If you like it tell me what you thing on my flowers. Thanks for everything.

Very good article. I just found steemit a few days ago and I am getting ready to bring my followers with me shortly. On twitter I have around 700,000+ followers and i am on 50-70 other platforms as well. This information is invaluable to be in making some decisions

·

Awesome cant wait to read ur content here!

Thank you for the information you provided.
Very useful for us all.
Because of the information from you, I can learn more about the world of steam.
I hope you can give me more information about steem.
So I will never miss the latest information in the world of steam.
I'm @aroyl will wait for further information from you.
Thanks for you.

·

Awesome thank you!

Hi... @knircky this look awesome. This place make me charming... The sea is one of my choice places to relax. Because the blue of the sea and the breeze make the heart more calm. Let alone accompanied by coconut ice. May be more complete if relaxing with family..
Thank you for reading my comment. If you have free time. You can visit my blog and follow me @zye

Have a good activity 😉
Sweet regards @zye

The value of steem is so much I think, for me this system was introduced me to crypto, I never heard about it before. Second is I can learn so much thing here with blog steemit's user like steempark, art, filming, trading, etc. So much to describe about value of steem, like ur wrote by this post. Thank you
#aceh

That is a very interesting post, although big investments for a few must skew the average value a bit. I think it's amazing that FB has such a high value per user!!! I certainly would be unwilling to pay $243 to use it, ha ha!

·

yes. steemit users vary very much depending on the SP they have.

As a minnow, I value every effort created by someone looking out for guys like me, (disabled) and where you said:"It delivers a working product used by end users and competes against old school social media companies as on open market driven approach" as opposed to other companies, who, because pretty much any other blockchain I know of is providing some sort of experiment or solution that is still in developement and hence speculative in nature, meaning we don't yet know if it will work and how.
thank for shering @knircky

Thank you for this post @knircky

Steemit is an amazing platform and I only hope to keep growing here and gaining more and more of a following. This post has motivated me to post everyday and sharing my gifts! I have also invested more than $2,100 into steemit with my own money and will continue to do so :)

Analysis like these are good to show the progress being made by the steem , showing in a quick and easy to understand wat how steem is becoming a sucessfull social platform that has wider array of content than facebook and its generating value for the community . So props for taking the time for running the analysis and making the post

However i think the results can be little misleading or confusing , as any social plataform doesent make money by just having users , but by the revenue this users generate by consuming and/or generating content

In the case of facebook this revenue comes from advertising and its estimated that the average user generates 20$ per quarter in revenue

So , in steem something comparable would be the rewards or sp being given out per user and post

Where most users dont make that much , and others make a lot , so the individual user probably doesent generate much value

Or maybe im mistaken , and steem is far more impressive when you look at it that way

It would be nice to run the numbers and find out

·

I think the idea of comparing the users' "market value" is a way of visualizing steemit's potential. It's not meant to show what one single user "is worth" or able to provide. It's much more an overall big picture ;)

·
·

I see it as a measure of productivity of each active user which I think is a valuable asset.

·
·
·

Solid argument.

·
·

Hello, Interesting post. I'm @evgenya86, nice to meet you! I hope you enjoy my blog, I will follow your account and vote, please follow me and vote ... Good luck in everything :)

·

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by unreality from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

·

Steem derives value differently. Value is genereates when people buy steem and destroyed when they sell.

So if people want to get influence and thus buy the token this is how the value is created. This conpetes with thw advertising model of all other sites/apps.

·
·

I know how steem derives value , which is precisely why i dont think its acurrate to make the calculations based on just number of users / market cap

I dont think users have any value by themselves , for example it could be calculated by calculating the amount of sp vested on the network per user

·
·
·

Exactly @on247 . Pure and simple.

Who am I?
BORIS!

Block chain technology is priceless, and the value of steem is gonna blow minds in the next couple years

·

Totally agree on this one! IF there is not gonna be any fatal hacker attack, we'll see a bright future.

Steem is a great Community - it seems that we all share some sort of common bond! Steem on ...

steempower.jpg

·

Agree! A Great Community with ever ever more Activity!

I've got the (Steem) Power!

It's getting, it's getting, it's getting kinda hectic.

Snap! - The Power

The Power

Loving your user value comparisons between the different platforms. Let's not forget that the money in Facebook is mostly made by Facebook and NOT its users. It's the complete opposite with Steemit!

Steem is revolutionizing social media just like Bitcoin is revolutionizing money!

Great article. My only concern is how complicated it can be to understand all the concepts like STEEM, SBD, Steem power etc. When I first got started I moreorless gave up after a few days because most explanation videos were not that clear.
I really got kickstarted when I watched @jerrybanfield 's guide on Steemit which I linked to at the beginning of this articles:
https://steemit.com/steemit/@blockchainttmft/help-2000-usd-of-steem-which-poloniex-is-holding-from-me

I hope that they will do more marketing which explains in simple terms how Steemit works as well as make an effort to create better explanation videos. Either way, I'm all in on Steem right now!

·

Yea some find it complicated. I feel for a user to start just focus on posting and making money off that. The rest will come over time as one gets deeper into things.

·
·

That's good advice, especially for perfectionists like myself who want to fully understand everything before committing time. Sometimes you have to just believe a little and learn as you go!

·

@blockchainttmft this is a wonderfully written comment! I gave you a little boost in hopes you get more recognition. :)

·
·

@litttlehelper Thanks buddy! You are a littlehelper indeed! Speaking of helping others, I wrote this post related to me being a white educated male wanting to make a difference:

https://steemit.com/steem/@blockchainttmft/triple-the-value-of-your-upvote-on-this-post-and-support-a-good-cause

every points in this post is noticeable @knircky. Thanks for posting such encouraging post.

·

world needs more elephants blowing gold glitter! I cant get enough!

·

Sweet animation!

Coming from someone who primarily makes all of his revenue from youtube, Steemit is a relaxing experience. I don't have to worry about the algorithm changing and screwing my channel, ads disappearing or boycots, copyright strikes and claims and a whole host of other issues.

I have high hopes that Steem can reach some serious user numbers - at the very least as many as something like soundcloud. At some point there will be a tipping point, when word of mouth spreads among content creators that your work can receive far more rewards on steem than where it is currently hosted.

·

Just the bots can screw you over... and make this platform diluted and steem value zero. https://steemit.com/steemit/@brutalboris/bots-will-be-the-ruination-of-steemit

Who am I?
BORIS!

There's definitely potential for growth for Steemit. Comparing the value of Facebook and Steemit is like comparing apple and orange. People share information on Facebook freely and more organically while users on Steemit are largely motivated by financial returns.

As a user of both platforms, I feel that Steemit is more "noisy" than Facebook with the number of valueless posts. I'll continue to use Facebook to read thought provoking articles.

My 2 cents worth of thoughts.

·

interesting. My experience is a bit different. I feel content here is most valuable compared to others..... Would be interesting to hear more about this from you.

·
·

Perhaps, you have a way to filter the people whom you are following. I'm not sure. The people whom I'm following have some great posts time to time. After awhile, they start to post crap on my feed. I have people I don't follow also appear in my feed. I guess I start to mass "cull" the people I'm following to avoid reading junk.

·

I agree.

One advantage FB has is the ability to control what you see. If I have a friend whose posts I don't want to see, I can unfollow them without unfriending them. A friend/page/group whose posts I want to see at the top of my feed? Then I just click "See first".

I think the noise of valueless posts will decrease as the people writing them without getting upvotes realize that it is not worth their time. Personally I follow very few people and spend more time going deep in the comments of articles like this one which bring up points I'm very interested in.

·
·

I presume you'll follow me then. :D

haha. Now, I believe Steemit can go down the route of Facebook, which will eventually make it a copycat. Then again, what constitutes value differ largely from person to person. Furthermore, our diverse interests in various subjects depend on our mood swings.

I see a lot of people saying we should write "valuable" posts. What exactly is high-quality value post is extremely hard to define. I guess at the end, quality = time and effort put into each post.

·
·
·

I think a high value post can be defined in two main ways:

  1. How much time you spend on it.
  2. How much knowledge you have on the topic.

If you're seriously lacking in either of those it's going to be extremely hard to create a high value post.

·
·
·
·

Totally. And we have to combat our inner desire to see that quick upvote on every post that we published.

It's sort of like the marshmallow experiment here. :D

These are the type of articles I love to read.

Steem is certainly cheap when you look at current usage and the growth of the user base.

While Steemit has a long way to go to be easy to onboard like Facebook, I believe we are heading in the right direction. You have my 10x vote sir.

Follow in & Vote up

Are you sure about 100k active users? I think it is over-exagurated given there are a lot bots, auto actions and uaers having several accounts. I like the article, I agree for the most part. Love that gif file. Can I use it?

·

There are other stats that show 20k active daily users so this makes sense. Again the data is not from me but you can follow the references.

·
·

Yea I think you are right. I was under wrong assumptions. Plus I totally agree that Steem is way undervalued at this time. Once bitcoin noise settles down, I see we are going to see nice surge in Steem and it another wave of sign ups will pour in. I think momentum is building up and especially hard fork 20 addressing mass adoptions will put Steem at $10 near future. Then sky is the limit.

·
·
·

nicely said

·
·

Once you negate the bots from Twitter or facebook your numbers change too. Far less real people behind the large amount users or multiple accounts, etc on the major website too!

·

I'm not a bot!

I hate social media, but will exchange some of my time for money in return. This is a brilliant concept and was combined with litecoin Segwit also with advancements in Litecoin lightning network.
Follow us @celeb as we'll be promoting stories only on things that are actually important.

·
·

@celeb why do you hate social media? Are you only on Steemit as a result of that?

·
·

Thx. Look forward to reading from you!

@knircky this is so incredible post and i love it. Yes @steemit os in great progress and i am too addicted to steemit and i use it through @good-karmas @esteem and i love it i suggesteverybody to use it. Thank you.. ***@naseerbhat

·

Awesome!

Great post I like your analysis, I hope you will publish more articles like this one !

·

Thank you. The response to this one certainly makes me want to do so!

I think we are the best. And the value of steemit and steemian is by far more than the other.

Here we have freedom, great users, really interesting posts, a crypto of our own... Etc etc...

With all this and the great experience i had here since i started, i really belive that we will grow to be n°1.

Saudações

Very informative article - the people that i know of that are using steemit have told me that they hardly ever go on to facebook anymore.

As you say , it is not just about the money - there are some really interesting as well as educational posts.

Thank you.

Great analysis you have made here. I believe that this is just the beginning but I just hope that we advance this platform more while there is no clear competition yet.

Nice post and succinctly depicted.

Awesome article!!....a comprehensive one. @knircky
I am delighted to have read the whole calculation theory. That ultimately computes 1 steemit user = 10 Facebook users.

I think by this year end, steem value will be far more than current one i.e. 10 times rise.

FACT: FACEBOOK is lowering down the rank for the steemit posts being shared on their platform.

And this shows that how fearful they are with the advent of this blockchain-based social media platform.

Not only that, it is disrupting the existing business model of Facebook like companies which is entirely based on revenue generation through Ads. These Ads shown to users in a personalised way using AI and then collecting the amount per likes (by Fb users on these Ads) from Advertisers.

I am really looking forward to the collision of another coin - "Reddcoin", which is aimed at connecting all the centralised platforms through rewards to the users. And this concept poses danger for Steemit's future. Bacause those platforms existed for years. In order to earn, they shall have to switch from Facebook, YouTube, etc. which is a very tedious work. They have to repost their content.

Let's see where this war - "Centralised vs De-centralised" heads to.

·

Facebook could be ranking down Steemit due to too high a ration between noise and value of most Steemit articles. Curious to read the source of FB lowering the rank of Steemit posts.

·

You bring up a great point about Reddcoin. Even if as @knircky suggests that most other cryptos don't yet have a working platform, it's just a matter of time before competitors to Steem start emerging and if Reddcoin implements what they have set out to, it will enormously reduce the potential for Steem to grow.

Of course even if Reddcoin works, FB/YT/TW will be be centralized companies, contrary to Steem whose Unique Selling Point is that it is decentralized.

Steem is great value however the valuation, as with other coins, could just be a bubble. It is based on future expected value I guess from advertising and the like. Otherwise I don't see how it could have any value at all?

Those are some really interesting statistics on the user account values and it is only going to increase.

I like your T-shirt :)

I will also make steemit T-shirts

·

I need a steemit shirt!

·
·

Steemit T-Shirts available in various colors http://bit.ly/2txPNCG

Number 4 is key to me and that's what makes it appealing to me, I can't wait for websites in the future to raise their palms up and wonder what happened to monopoly of information and rewards.

This is a great post. The funny thing is I was thinking about this topic last week how much worth a fan on Facebook or Youtube is in comparison to a steem follower. I am so glad that I found out about steem last month and I am very happy to be active here. The commmunity is small but great. The attention and engagement for our "work" is terrific.

·

i think if you start building following now and collecting steem this may be very very valuable in the future when the platform has grown 100x.

·
·

I hope so!

·
·

Yes, I kinda hope it. But if not... you know what? I is worth the time as long as you enjoy doing it.

Good stuff, I'm new on here and this is very encouraging!

·
·
·

Welcome @hawking, feel free to ask any questions you have regarding Steemit!

this is a very great post and a great information also. thanks for sharing @knircky. should this be acurate, then steemit is unstoppable

Great!!!! Resteemes

although this is true, nevertheless to find a gem in this endless stream of irrelevant stuff is somewhat hard. Steem in this term is messy and needs to be reinvented or redesigned. hope this is feasible

·

Yes. Steem has a ton of issues and design flaws. Yet it is also young and still needs work. What is great from my perspective as someone that has been with it for over a year is that the pace of innovation has been staggering and many critical improvements have been implemented. Even some very structural.

Awesome Post!! I'm new to Steemit but I'm already in love. I've met and seen so many cool people and stories vs Facebook. Everyday it seems I learn something new about Steemit! Thanks for posting this!

·

Great to hear and thx for sharing!

This is nothing but factual truth and great analysys. good job bro. Infact right now we Nigerians are jumping on steem like crazy I see it taking over facebook and twitter in Nigeria in very short period of time cos steemit is truly a game changer for we Nigerians

Steem was design to empower communities and the fundamentals are strong. As we move to HF20 - velocity (new upgrade) that will accelerate user sign-up, we could see 100X growth per year. Especially if we take into consideration all the projects currently being build on the protocol. i.e: @Busy.org (decentralize facebook), @SteepShot (decentralize Instagram), @Viewly (decentralize Youtube), @Zappl (Decentralize Twitter) and more...

·

Hell yea. I have had user conplain to me about sign up. So i think this will be crucial.

The integrated reward system of Steem definitely provides a great incentive for users to join the platform and produce quality content. There is so much intrinsic value in both the users and the platform itself.

·

Well said!

Nice article @knircky. Thanks for sharing

The potential of this platform it's insane. I don't see any reason to go back to other social platforms...Brilliant article by the way. Do you mind if I translated for the Spanish community, @knircky? :D

Thank you for sharing. I can't say I fully understand it but I do find it all quite fascinating.

·

what is unclear to you?

This is one of THE BEST posts I have ever read on Steemit.com. Highly appreciated.

·

wow thx. i am glad you liked. lets see if i can create a better one in the future.

love your posts.. keep them coming <3

Sorry steemit is not facebook. Steemit is more closely like reddit .unless steemit interface change to include essential features of a social network steemit is long way from facebook. This is still a social experiment

·

I agree for the most part , yeah , steem is something very different and unique , and well what exactly essential features is subject to a lot of debate and different opinions , Some users may come from having personal blog powered by something by wordpres and wont miss internal messaging or fan page , while others will , coming from facebook or telegram .

What specific features do you miss ? , I do think the steem team has already a lot of work making the system work right and be fair for all users

·
·

I am fully onboard with the steem block chain but not with steemit in its current form

  1. single page interface
  2. user feeds
  3. groups
    4)news feeds
    5)privacy rights
·
·
·

Yeah , i would like to see groups
Also i think topic feeds could be a good idea , something like reddit multisubs when you can pick various topics to mix in a single feed

·

My analysis is fairly broad. We could also say twitter is not like facebook. What u are saying however is correct and needs to be taken into account.

I dont have the data about reddit since it is not a public company, else it would be in this

Damn I had no idea Steemit had 100k users. I remember getting onto facebook early...This feels the same...But so much better!

Good article. Just at a bit of a loss as to how a Facebook user has any value. A up vote in steem is cash. Facebook.com has no value at all. 0 dollars. In any currency. I see at the time of my post your post has earned your 474.10 I have not made any money on any past on Facebook. It is worthless. Please explain how Facebook user actually has any value to me? When 0 x anything is not defined.

I could use some value. Im a veteran who makes hiphop check it out!

·

Sounds cool. Look forward to listen to some!

Thanks for the information .. I will always follow you .. follow me @riansteem ..may be a good friend

Thanks for sharing that post, nice content keep posting ;)