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Have you ever wondered when the price of Steem will hit $50 or more? Have you ever imagined a future where the price of Steem will hit the roof and some early adopters of Steem will make Forbes list of top 100 richest persons in the world? If you have ever conceived such seemingly paradisiacal thoughts, you are not alone. I have been there too. And I can tell you that those thoughts are no Eldorado. One day, very soon, Steem will set a new record of $50 or more. However, I consider the following as some of the preconditions necessary for the unstoppable move of Steem towards the moon:
The Price of Bitcoin
You probably do not need me to tell you that bitcoin is currently the emperor of the cryptocurrency empire. The implication is that there is a direct relationship between the price of bitcoin and the price of most of the cryptocurrencies in the market today. This means that a fall or rise in the price of bitcoin will result to a corresponding fall or rise in the price of most other cryptocurrencies on the blockchain, including Steem.
For instance, towards the fall of 2017 when bitcoin reached an all-time peak of $19,800, Ethereum followed a few days later reaching a peak of $1350 while Steem and SBD stood majestically at $7.7 and $14 respectively. Yet, prior to the emergence of bitcoin as the first lady of cryptocurrency, Steem and others were not relatively prosperous.
The simple lesson for everyone, therefore, is that the price of bitcoin plays a significant role in determining the prosperity of other cryptocurrencies, including Steem. Consequently, if Steem must head to the moon, the price of bitcoin must soar again towards or beyond $20,000. This is a commonsensical assumption, and historical facts have proven it to be true.
Massive Adoption and Usage of Steem
Beyond the price of bitcoin, a great precondition for the eternal rise in the price of Steem is in its massive adoption. As more and more people begin to embrace and see Steem as the cryptocurrency of the future, the price of Steem will continue to rise significantly.
At the moment, a major advantage Steem has over bitcoin and Ethereum is speed. The Steemit blockchain is presently one of the fastest in the world. It takes a few seconds for funds to be sent from one user to the other and without a fee.
In the nearest future, I believe, more people will discover the edge Steem has over bitcoin and Ethereum. This will result to a mass adoption of Steem and a concomitant rise in price.
The Growth of Steemit
Since new Steem is created by the activities of the users on Steemit, a growth in the population of those using Steemit (the social network and blogging site issuing Steem) will, certainly, serve as a precondition for Steem's journey to the moon.
As at December 2017, Steemit has less than a million users. Now consider that with the censorship crises and data mining scandal bedevilling Facebook, a large population of social network addict turn their attention towards Steemit. Of course, Steemit will experience an astronomical growth which will also lead to an increased demand for Steem. And once the demand for Steem surges, its value and price will also increase.
The Age of Giants
As part of the preconditions for the price of Steem to hit $50 or more, I foresee an age which I call, The Age of Giants. The Age of Giants, as I perceive it, is simply a time in the future when technological and manufacturing giants such as Samsung, Toyota, Sony, Benz, LG, Dangote, PZ, etc will join Steemit in their quest of reaching out to and rewarding their loyal customers.
This age, as I perceive it, will result to a peerless demand for Steem Power that had never been seen before in the history of Steemit. In fact, with a little luck, the marginal demand for Steem Power may exceed the marginal creation of Steem, such that the total number of disposable Steem will fall below the demand for Steem Power created by the joining giants.
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I have reasons to believe that Steem will reach its apogee during the age of giants. Those with over two million Steem Power during the age will not be taken for granted when the list of the richest people in the world is being compiled by Forbes and other busybodies.
I will therefore congratulate everyone already on the Steemit blockchain at the moment. Frankly, it is a rare privilege to have heard about Steemit and Steem at this infant stage. Do not give up, whatever the challenges are, Steem is heading to the moon and we all are at the verge of making history.
Don't forget to upvote/resteem. Remember, we all need oxygen to survive.
Honour roll
@majes.tytyty, @naijaboost, @steem-lagos, @treskele, @oluwadunsi, @stidoff, @brotherdave, @artzanolino, @crypto.piotr, @ponmile, @jerrybanfield, @blocktrades, @surfyogi
Hi @gandhibaba
I know that most of is hope that this is coming true, I Aldo have friend talking about values of 100$ and 1000$. In my opinion I think everything will not depend on just the value of other crypto coins or users. It will also be in need of developments within the community. Like smart media coin, extended use of steemit as a shopping platform, more of unique ideas to develop an extraordinary platform that stands out in the world. @dan has a evil plan that I think more of use should support and take our responsibility within. I’m not a programmer or the creative type:-) but I can promise that as my part of it, I will contribute with good comments, investments and trying to participate to build up a unique shopping platform not seen anywhere else online. You should check out how @babsboard stands out in there auction site with inviting the community to buy and sell items on ordinary sales and auctions with a cool twist:-)
Best regards @everydaycoach
Thanks @everydaycoach for the insights you have brought to this conversation. I agree with you that the price of Steem will surge when its acceptability extends to other services and products. I look forward to those products and services and I pledge my loyalty and support.
Regards,
@gandhibaba.
Maybe this will happen after 5 years.
You could be right. I am happy to hear that you even believe in the power of Steemit and Steem. Cheerrrssss!
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It will get there. The biggest part is those of doing our due diligence. Good consistent information, good consistent posting AND commenting. Oh and the BIGGEST thing...spend your upvotes wisely, don't upvote the lazy spammers or people that do not 'create' content (that stuff belongs on Facebook) upvote good articles, ones that make you think, get angry, cry, and so forth. Some of us will take longer to grow, but that's ok as long as we remain true to who we are. :)
Thanks @gandhibaba and psst....you did it again 😅
It is always a beautiful thing reading your thrilling comments. I trust you and I will not fail in our responsibilities of ensuring that we make Steemit great by active participation, posting good contents, and giving decent feedbacks as you just did now.
Cheeerrrssss!!!!!
I have definitely believed in Cryptos. But the long wait has been depressing. I'm surely not giving up but there has to be some motivation. Off lately up-votes have reduced, and even activities have reduced. Everyone is delegating power to paid bots for passive income. Whales have a big role to play here. Keep the ball rolling.
Cryptos are largely very volatile. I understand your worries. I am also a victim but we must continue to keep faith and hope alive. Soon, we will smile. Steem to the Moon, mate.
Wonderful post ..thanks for sharing...Best of luck friend ✫
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Damn. Just noticed that you mentioned me. To late to upvote.
And to late to read since it's already days old and not updated. Damn.
There is always another day. Too late indeed.