I just read your article, and if I get your point, you are saying that there is both an objective and subjective value. The difference being the future value.
Is that correct? If so....
You are correct that objective supports the subjective, and I see that, but I'm talking about the long term results of all these coins, which is how people are pricing in the value.
We have a lot of future value baked into these coins, of which we assume some sort of future utility thats worth more than its existing utility. And as you said, speculators become investors at some point.
Where do we stand with the steem blockchain right now? I think it has limited use at the moment ONLY because we haven't found much use for it yet. HOWEVER, I think there is massive potential for its use in hundreds of applications. The problem is discovering that usage.
Fair enough. However, again, Bitcoin has way more "value" in terms of market cap than STEEM and yet STEEM (just as a currency) has better features and thus better future potential utility value from a technical perspective. Again though, it's the network effect of perception that gives any currency value. Either way, STEEM has a lot of upside, and I'm excited about that. :)
I can 100% agree that STEEM has a lot of upside. There is a host of potential for this blockchain above all others. I think we need to capitolize on that aspect because this coin generates its own attention that is worth putting effort into.