Personally I am a bit sick of all the fud around the price of steem and the speculation about the inflation of the currency itself.

This post shares my PERSONAL opinion on the price of steem, and the platform's future.

Over the past week I have found myself going into one debate after another over the price of steem with (literally) hundreds of bitcoin / crypto users.

And let me say this loud and clear - The FUD is absolutely pathetic!

If people simply do not understand any market and economical laws, they need to go read books before they come out and start to argue.

Now the point is not that people are not entitled to their own opinion... please, be my guest.

The problem is that people who just don't have a clue share their opinion that influences others!

First of all, have a look at the charts of facebook and google.

Why them, and not twitter or yandex? Well because facebook and google were the first success in their field back at when they begun.

And I am not talking about time frames, no point arguing about who was first. Those are simply the first that became who they are today.

What can we see? Well, in both cases, the price is unstable for a while (facebook is the first chart). Just look at this chart again; people are ready to pay over $125 (!!!) for a single stock of facebook. And what for? But don't be fooled, all those Wall Street giants are not completely empty cans. Apart from money and human resources, they have a technological progress behind them at the very least.

To go deeper into it, it’s a big philosophical debate. But the bottom line is that they have the power of the people behind them. The power of voice.

So when people ask me why would anyone pay 2 dollars for a steem, please look at facebook (also check how many stocks they have in possesion).

When people tell me it’s a pump, please look at other alts with their current price tag. I.E. Ether has slightly over 25% less coins, but the price is six fold.

And do you honestly think that the price of btc is at its peak? If so, you don’t have to understand crypto. There is no point.

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So there is the social "back" for the price of steem.

Let us not forget that in a recent interview to @dollarvigilante , @dan mentioned the fact that he sees steem as much more than just a social platform, he sees it as a whole separate economy, with things like an integrated "ebay" and so on. We all know that steem has the ability to hook side chains.

If one can manage to integrate a trading platform. I am not discussing here what it should be or the technical side of it. I am talking about the market capitalization of steem, following those actions.

eBay Market Cap:35.14B for Aug. 10, 2016

Now I am not trying to convince you to follow steem because of its price, but it's silly to say that the price has nothing behind it. That is my point.

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"What the developers are doing is giving away free money, which causes inflation."

I hear this one a lot too.

Well, for example among the Chinese government there is wide belief that workers should not work beyond 18pm, so that they are able to come back home and spend their money outside. That is exactly how you start to twist the wheel within the economy.

There is nothing wrong with that (especially if steem is not going to be only a social platform).

I think the point of wealth share is not even worth mentioning. It's been over talked about on here, and the opinion is absolutely correct (its not always fair).

This post is only an opinion of my own and should not be taken for any trading or investing advice BUT if you can see what I can, then you should have your own opinion based on facts and not on fud among the bitcoin community.