I think it's important to hang in there and focus on the positive. There's a website that's called blockitivity http://blocktivity.info/ that collects block activity and measures them against one another. It's also a financial tool though because they are comparing market cap of a coin (the total value of coins in circulation) to the activity on the block. They also share what capacity each blockchain is at. Here's where we stand today.
Steem is trading with eth back and forth for the number one spot on that list. The list is tracked by how many transactions happen per day. So, it's great that Steem is number 1. It means that we're often the most active community for all cryptos period, but there's more to it then that. We also have a much smaller market cap than coins that have similar activity levels or honestly coins that don't have any community around them. So if you compare Steem to Bitcoin our ratio of activity to marketcap is 1100 times smaller than theirs. Another way to think of this is based on block activity Steem is undervalued by 1100 times, and by block activity Steem should be trading at $2,200/coin.
But wait there's more!
Next part is that Steem boasts a lot of attractive features that the other coins don't have.
Convenience. I like having the name aggroed. I think this would be less fun if I was 345klbigl450435j3245jcock452345j2. I think it's easier to send money, and from what I see happening it's relatively easy to code things for this blockchain. It's pretty easy to login, send some money, and punt out a couple of blogs.
Transaction time. I hate waiting for btc and ltc transactions to clear. I sold the small amount of EOS that I had last night while it was peaking and dipping. The first time I sent the transaction it didn't go through. The second time it took forever. It's not just that I'm impatient it's that cryptos change quickly and if you're an active trader then 30 minutes or multiple attempts at 30 minutes could be 30 plus trades that you missed out on while shit was waiting for confirmations.
Steem doesn't have that problem. Because it's DPoS this bitch is fast. So, our transactions take 3 seconds. That's lightening fast, and you might actually be able to build some reasonable commerce off of it. Steem Connect makes that easy and simple.
- Transaction cost: Have you even tried to send btc recently? I might as well just give the miners all of it. This is an incredibly hungry network that's currently using double digit percentages of the world's energy supply. It's fucking crazy...
Steem and SBD are free to send! Stop giving the miners all your money and start trading in Steem.
- Transactions actually go through: Crypto Kitties is taking up 25% of the Eth network. When the next fad like that hits you won't be able to use Eth. BTC and Eth have around 120k unconfirmed transactions between the two of them. It's horrible. A year from now you're going to spend half your money just sending the money. It's worse than credit cards taking 2-5%.
Without any technological improvement Steem can grow it's number of transactions 300x and keep on ticking. Witness server costs will probably go up, but you'll be covered and ok. It's gonna be fast, it's gonna work, and it's gonna be free.
We're the gateway drug to the mainstream
Where are new people going to hit the market? Some really complicated coin? Some financial instrument? or a site where you can blog and get paid. Steem is a network built for a social media world. It might be a little tricky to get but as this price rises (led by SBDs) we're going to keep tearing off facebook, reddit, and other competitors and drag them into crypto. We're starting this process with youtube as well. Just this Sunday I'll have 3 people on a radio show with me representing 1.6M subscribers. And they feel incentivized to come over here because youtube is paying them less or nothing and apparently they like eating and being able to pay their rent.
Steem has one of the best outlooks around
Despite our user interface, despite our distribution, despite the learning curve we're gonna be the first to really mainstream and it's gonna add a lot of people and an enormous amount of wealth around here. I'm still just gonna HODL and stockpile this stuff as much as I can because I think there's still tons of room for growth.
I'm looking forward to what 2018 will bring. Get your shit together and carve out some more time for Steem because I don't think we can stay this undervalued forever.
The potential that steem has blows my mind. Every day I am reminded of a reason for which I chose to invest in it. Every day I am even more confident in my investment. Every day I reevaluate the price that steem will reach and feel compelled to put the bar even higher, objectively.
The guy who spends his life snorting coke off teenage asses is the dumb guy?!?
"All models over the age of 18" ;)
Steem has got potentials but one requires patience to wait it out. Also Steemit Inc. should associate the crypto with other things e.g Paying for google Adsense with Steem(yeah i know it sound funny) but it needs to tie to a utility so as to enforce its usability in real life scenario.
Just my thought..but hey, I might be wrong.
Could you develop the google adsense idea? might be interesting but I don't clearly see what you mean
(Starts slow clap)
crypto blows my mind in general.
mindblowing article, will show this to my friends
This post has received gratitude of 1.00 % from @jout
You got a 0.33% upvote from @postpromoter courtesy of @jout!
Hey @aggroed!
Thanks for this post man, I have to admit you pumped me up one more time before I go to sleep... :)
This is just a beautiful time to live in, lets face it... it took me some time to understand unlimited potential this platform has, but I was kind of limited by my perception and the beliefs I created.
I'm extremely lucky I got out of that mindset and finally realized everything I can achieve here and more.
Since the mind-switch I did, I started achieving things here I've never even thought were possible.
Nowadays I reject to limit myself in any way and I developed deep love for this platform.
This blockchain is definitely crazy and the stats you've shown prove it pretty much. A picture is thousand words right...
I wish you a great day and lets move this platform where it belongs, on the top brother :) :)
Peace out
Very nice post
Regards
@crafter
Yea Boi!
This is awesome!!!
That is True :D
Thanks for sharing post.
Yes. I want to dance by knowing the the hope. Yes we we don't think we can stay this undervalued forever.thanks
Steem is the only one I work with, and for all of the reasons you mentioned. Great post, my friend. Steem will keep growing, especially with people like you supporting it.
I am happy to know that trend shows Steem is rising up and by 2018 it is zooming high. Thank you so much @aggroed for always sharing informative post. Excited on your coming show on MSP! Resteemed!
Didn't realize Steem being so active. And zero fees! Steem blockchain really works.
Btw. I wouldn't look EOS transaction times right now because their ICO was launched on Ethereum blockchain being still depended on its performance. But once the EOS product itself launches in 2018 you redeem your tokens in the EOS blockchain which will actually have a similar DPoS system as Steemit with Producers creating new blocks. And the performance will be I believe something absurd like 100,000 times better than with Ethereum.
Have you heard anything about singularitynet.io? sophia built a crypto. token sale imminent?
I'm not familiar with singularitynet. It seems interesting.
nice post
Its good to see that steem is at no. 1....It is going to be on no. 1 in everything...just need some patience....
Very good, Thank you @aggroed, I also resteem your post!!
We are all going to be steem rich and popular.
Thank God for the bid bots.
:-)
But imagine how much coke you could buy now, if you got early to this Bitcoin race :P
good coin they have
thank you @aggroed but There is an important topic to draw attention to
I find myself scratching my head over the whole "lagging" issue almost daily... and I keep wondering if there's some secret cabal out there painting Steem as a shitcoin, and we just don't know about it...
In all seriousness, I think we do have some issues with "misplaced focus." I was just looking at the runup in BTC and realized that if Steem had just kept even with BTC over the last 90 days... we'd have $6 Steem right now.... and that's just a tiny bit of the market gain.
I still think we have something brilliant, here. Some amazing opportunities.
For example, because accounts are designated by simple user names rather than long and impossible-to-remember numbers and letters, the potential for simple e-commerce marketplaces are HUGE here. I know we have a few little initiatives here and there... but this could be home to an eBay-style peer-to-peer marketplace of goods and services, turning this into a coin the TRUE "economic potential."
Me too
Yea u right
Amazing article....thanks for sharing this with us.
wow. am glad now more than ever that am steeming it up. thanks for the great eye opener..
thank you for the info :)
Have a stunning weekend :)
I think the actual volume and quality of transactions is something that people are increasingly talking about. You go on the bitcoin subreddit and you'll see lots of people talking about how it has gone from a currency to a speculative investment that people just hold and never transact with because the fees are ridiculous.
I think steemit and the fact that it doesn't have those problems won't go unnoticed for long.
Yerp. HODL!
This was my favorite line - "Another way to think of this is based on block activity Steem is undervalued by 1100 times, and by block activity Steem should be trading at $2,200/coin."
everybody's got a plan until they got punched in the nose
yup that would be very cool
wow that's nice to see steem on the top of the chart if feels like we are all on the right track and have bright future
good analyze @aggroed .Thanks for sharing.
That some great news for the steem community and yes steem is very much undervalued.
HODL!!!
The Petrodollar is dying. The real players, central banks, are hoarding gold like there is no tomorrow. There is a monumental shift in process already and Bitcoin is part of the transition. Time will tell whether it’s simply a genius fiat vacuum designed to implode or the future of money the globalists hope for and their last ditch effort to ditch gold forever. Hold on to your butts.
good joob @aggroed .Thanks for sharing.
nice post
I am excited that it is No.1 listed in http://blocktivity.info, despite the fact how you compared the Steem transactions with Bitcion in relative with its volume. I believed Steem future is bright due to its extra features explained in your post well in detail.
Coin cap app can do it also and it's easy to use
Good job
I really hope steemit can reach highs similar to those other projects.
In my opinion steemit is currently very undervalued and I think the reason for that is that most people doesn’t know this project and/or understand it.
This will end up taking up and we will be a leader of social media.
Great to see steem on top of that list.
Like you said steem can't be under valued forever.
But do you think steem dollar price will ever come down to 1ish again???
Thank you @aggroed for promoting this post together with https://steemit.com/budget/@jerrybanfield/introducing-steem-budget-proposals
The amount of activity in Steem it astounding. There is no reason we will not be trading much much higher in the future.
You got a 29.08% upvote from @postpromoter courtesy of @aggroed!
This post has received gratitude of 17.95 % from @appreciator thanks to: @aggroed.
You got a 18.71% upvote from @upme requested by: @aggroed.
Send at least 1.5 SBD to @upme with a post link in the memo field to receive upvote next round.
To support our activity, please vote for my master @suggeelson, as a STEEM Witness
great post. I am very new to steemit. In Germany only a small number of people are aware of the possible chances. I try to convince my followers on facebook and my adhd blogs to come to steemit and start a new "tribe". And I think there will be a lot of other people doing similar changes of their prior internet use. I am rather late in cryptocurrency and blockchains. But it is never to late. I love to write new content and interact. So streemit or new blockchain social media plattforms are my way to make some extra money.
wow
this community is one of a kind and am bless to be part of the success story
long live STEEMIT
i salute you @aggroed
you go GIrl
Steem's rise is inevitable, we have the right people on the platform,coders, writers and more. The system encourages us to read up on articles, Ive become considerably smarter and more informed regarding general things and more importantly the crypto-market since the day I signed up. In the long run steady progress and consistency are more valuable than gold
Thank you for bringing this site up. I have been following different things on there and originally found Steemit through it.
Your are Good Keep it UP :)
I'm still very nubbish to this crypto currency stuff, althou not entirely new to trading in general. It is not easy to wrap my head around all of the technicalities and what not, but I'm trying. Having said that, it is also rare to find an article that adds something valuable to your confidence in Investing in a particular coin. This post did it for me. Thanks for adding a little bit more to my knowledge of this stuff. And sorry for the poor frasing, my brain is fried right now lol
Appreciate your great info, I’m hoping the steem value would raise up sometime in the coming 2018
Yeah BTC transfer charges are increasing very fast & also time taken is quite more .. exchanges like binance are taking 50K satoshi as fee .. which is very high ..
yes i agree with 300x transactions& maybe more in next 6 months
@aggroed i have sold EOS & entered cardano @700satoshi sold @1700satoshi . So my query is : Should i enter back in EOS or cardano ? Also need advice on TRON
good post @bijoy123