Well, fair value is subjective matter. From investor PoV, Steem has no value at all, because it's inflationary platform without any business model. From user point of view it has value and users can sponsor it to keep it alive (which was also my case). Anyway my hope was also that platform will also generate some profit without this "sponsoring" one day. It's not. Unless there are changes to support this, I'm not willing to sponsor it anymore. I've spoken needed changes many time with no adequate response. Value of STEEM currently doesn't matter to me, because it only reflects level of sponsorship (or hopes at best) to this platform. For many people it's not a problem to continuously support STEEM by gains on other projects. If they like it and if there are such a people we can see price increase. If there are no such a people, there will be only price decrease or PnD sometimes. Currently STEEM is non-profit project - period. And price will reflect that. Sad thing is that Steemit has (had) a potential to get like 100 million users or more and and generate at least 10$ per year per user with all the advantages it has. Like this, it will be just minor community experiment. I'm not saying it might not change - but so far (almost) nothing was done in this direction.
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