RE: $2 Steem Sets Our New Cryptocurrency Market Capitalization Record at $468,096,656!
Theres no reason why Steem can't be worth $400 - its a top 10 coin and the volume is increasing everyday as people look at currency as though its some form of digital commodity or equity.. every coin has taken on this hybrid equity/currency structure which makes it exciting even for grandma to want to brainlessly buy in an currency hedged ETF - when the real investment comes rolling in - even 1% of an ETF would be huge. Chances are Steem will end up in many of these fund portfolios once they are approved and regulated. Im not sure what roll "Steemit" plays in the valuation - I know lots of guys who trade it and have never been on the site. I personally like it because I think it has something special - its backed by content - there is value in content - even if the powers that be havent figured out how to monetize it yet.
Agreed. STEEM is a crypto which can back social media sites that will reward the content creators and curators. It's a self fulfilling phrophecy. When there's a choice between creating content and getting nothing for it or getting paid for it with 'monetized appreciation', it becomes a no-brainer.
I personally think the best feature of Steem is its speed.. not alot of users get to use different crypto coins and don't realize how awesome Steem's speed is.. I think a merchant would appreciate using it as opposed to say bitcoin... Youd have people lined up down the street if you made them wait for 4 confirmations ;)
I agree as well. It's a very clean but fast platform.
I thought Steemit wanted to make their tokens mimick the dollar and could create more. Am I wrong?
Exactly Steem has a huge first mover advantage that almost no one new could catch up with and any existing business like Facebook would find challenging to duplicate without buying.