An excellent response from you, thanks for sending in your thoughts hence why I missed your posts with its constructive analysis ๐๐๐๐๐ . Without going into the details, my point was to outline why and how too much supply can negetively affect price , as you can see these coins prices whould be higher than their current prices if there is a bit less supply, however I agree with your analysis and I am sure that prices will increase with time due to the quaities of the platforms. Hope you like the Lamborghini Veneno ... lets hope for 1K steem price by 2 years time and you get one ..hahaa
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Hehe, thanks.
But for that, steemit would really need to figure out a way to onboard users more quickly and I guess require less delegated stake (or they'll probably run out..) Because there's a close relationship in social networks between numbers of users and market cap....ballpark $100 per user for Facebook etc. And actually, in this regard steemit is currently way over-valued ๐ฏ
Anyway, crypto is crazy...many cryptos have valuations in millions even if there's no rational value proposition!
A different way is to compare to other cryptocurrency market caps. In this regard I think steem is very undervalued, although the low trading volume is a negative in this regard.
Anyway, I think a 10x increase in valuation would not be out of the question based on this. And I would be very happy with this๐
Good point I agree with your analysis ๐ . However as indicated, if steemit picks up and reaches mainstream with millions of users, say in 3 to 5 year time it will surely be a household name and there is nothing that will hold steem price to 100 even 1K USD -however as indicated in my last post, there are still work to be done by all. I never underestimate the power of crowd (Face book et al for example) and yes , there should be strategic advertisement here in order to get external revenue-this will change the playing field in our favors isnit it ?
I'm not a fan of advertising and actually would not like steemit so much! I was thinking more that once they can't grow user numbers any more, they might have to consider it...haha, long way off๐
But the great thing about steem is it is decentralised. It's entirely up to steemit how they want to run their website; similarly 'esteem', or any other enterprise that wishes to leverage the steem blockchain as part of its functionality๐
Edit: I would not mind a banner advert too much, but would really get put off with a you-tube wait 3 seconds before you can view anything! Lol ;)๐๐๐๐๐
Good point,haha however tell Facebook or google that you do not like adds haha. If steemit will implement adds, then the platform should do it prudently...maybe allowing top firms to get account and advertise their products via those who follow them and in trending pages and tags after paying high price. All firms need huge external revenue for viability especially social media platforms-I think that it will be great for steemit , however it should be done prudently and members who have
steem power will get millions in revenue hiyaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa๐๐
With that conviction, you should buy some/more!๐๐
๐๐ absolutely, gradually and steady!!!! I am chasing you hiyaaaaaaaaaaaaaaaaa
Looooooool
I agree that the decentralized aspect is one of the most important factors. I do not have any long term confidence in centralized cryptos even if they are currently doing well.
I am sure that there will be a lot of centralized cryptos especially once the global elite get more involved in this budding economy...
hhahahha so true "crypto is crazy"
Doesn't matter how smart you are or what the situation looks like now, as you said CRYPTO IS CRAZY and can change in a poof.
Its an exciting, potentially very lucrative and also dangerous game!
Great comments as usual @xaero1