Pantera Capital CEO believes that cryptocurrency as a $40T market in 10 years is "definitely possible".
This was what he said in an interview on Bloomberg.
If STEEM maintains its present market position, that would mean a 100 times increase resulting in STEEM over $400.
Is that possible?
This is Dan Moorehead's view...
“It’s a fascinating market … a $400 bln market that nobody owns … we’ve never seen that before … the industry as a whole could easily go to $4 trln, $40 trln is definitely possible … It’s the ten year forecast, it’s not going to happen overnight.”
This is one of the reasons that cryptocurrency bulls point to when justifying their position. In spite of the FUD, most realize that the vast percentage of the world population has not invested in crypto. In fact, the same is presently true for most of the Wall Street money. Thus far, institutions have shied away from this sector since the regulation is lax. Ironically, the Wall Street crowd feels that increased regulation is what will allow the big money to start floating in.
I think the idea is correct. We are going to see a ton of money entering this space in the next 5 years. We are already seeing investment flow into blockchain which means that technology is only going to expand and claim more of the global economy. As that happens, cryptocurrencies will be used to alter the structural make up of many industries.
We truly are heading towards the "attention economy".
I also feel that the @dan blockchains are way ahead of everyone else. This will provide a window of opportunity that can be leveraged. We are starting to see this take place. While the likes of Bitcoin and Ethereum are trying to scale up, STEEM and Bitshares are already progressing to the next level. They are laying the foundation for developers to attract more businesses with real world solutions. In my mind, this gives them an incredible leg up.
While the market follows the name, those who are looking to establish businesses are not going to just look at the name of the blockchain. At some point, the specifications of what the blockchain can do is going to be a priority. Wall Street might not care about that but entrepreneurs and business owners do.
We are witnessing a convergence of technologies that are going to radically alter the way people live. Blockchain is one of them. Since STEEM has the speed and capabilities, there is no reason why it cannot be a top 5 blockchain. While this might not be reflected in the price of the token (markets tend to have their own minds), it should give it top 10 potential in terms of the pricing.
The true growth potential lies in the fact that there will be 6-7 billion people online by the middle of the next decade. All numbers thrown around today are within the context of 3.3B people having internet access. We should see a doubling of that. It is incredible to thing about what can take place when most of the world has internet access.
Cryptocurrency is in its infancy. I would say less than 1% of the people in the world have even "touched" this industry. The number of wallets out there is minimal compared to the number of people. When you take a blockchain like STEEM, consider what it will be like with 500K daily active users as opposed to 65K. Is an 8 fold increase really that unthinkable? I do not believe so.
Could we see a day when tens of millions of people are on the STEEM blockchain. With the introduction of SMTs, I believe that will be possible. There is no reason why many sites will not choose to implement STEEM's content/reward system. After all, it was designed to give sites with content and people commenting a way to monetize. This will only continue as we move forward.
STEEM at $400 in 10 years?
It is definitely possible if Dan Moorehead is correct with his $40T marketcap on crypto.
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Goodness, I would lose my shit if steem hit $400
Hell I’ll settle for $5 these days lol
Hopefully we can hit that next year.
If it hits 400 I'll sell 10 and go to Hawaii for a nice vacation
No doubt about it. If crypto is to attain mass adoption, it will be a major percentage of world wealth. No doubt about it.
If it's something that is safe, easily accessible, and used by everyone, why wouldn't its market cap not be valued in the trillions?
No doubt about it, IF you assume that mass adoption is an eventuality.
When you add up what fiat is worth around the world, you logic makes a lot of sense.
Ultimately, I believe we will see crypto as part of the everyday transactions for most people in the world. It really comes down to what is going on blockchain meaning tokens are going to be a part of people's lives. When in Rome....and when people are on different blockchains, they operate according to what the token is for that chain.
By the way, did you see how BTS has moved up of late...it appears that it is now on parity with STEEM in terms of transactions....got a new app that just went live on Apple store on yesterday. Could be part of the reason for the increased traffic.
Wow, that's great news about BTS. Maybe it's starting to get some legs!
And what you say about crypto becoming a part of people's everyday lives is exactly what I am expecting.
$400 Steem is entirely possible someday. It's not hard to imagine an 8 fold increase in daily users. I say this simply because everyone I know and their mother use Facebook, while essentially no one I know uses Steemit currently. Once the masses realize the beauty of this platform, Steemit will see Facebook like numbers. We are still in the very early stages so it's easy to imagine a very bright future for Steem.
With how much technology advances these days, I think you could argue that pretty much anything is possible in a 10 year period. That being said, I look forward to seeing Steemit/Steem continuing to grow!
Certaintly possible as Facebook announced 1.45 billion user of which they get about $8 in sales per quarter from each! This would bring the rewards pool to level that will interest many users as the alternative is given centralized social media sites with all the revenue.
That is why I like doing airdrops and occasionally even do faucets because you don't really know how the market will go so just keep getting.
If that happens to Steem and I know that we will go up then the account I have which I just keep adding SP will be worth a pretty penny!
One of the comments in your posts this weekend convinced me of exactly this. Most of the Steem is vested! There is way less liquid than one would think and it will get more scarce as more vest it!
Very true.
And I see more demand for STEEM coming. There are a ton of projects on this blockchain...many of them looking for money. It is going to get very scarce around here.
That means demand will increase while supply is fairly constant.....there is only one way for markets to resolve that.
The time to get into crypto is now. Early adopters are always a small minority. We live in a time when being an early adopter is rewarding to an unforeseen degree with opportunities cropping up left and right. Even if you don't belong to the even more select group of innovators, it can be extremely rewarding to use your critical mind to discover those projects that have the best technological and social chances of success.
I think most people fail to realize the massive advantage built into Steem of it being a Proof-of-Stake blockchain a demonstrably successful track record and the capability to take on the masses. Many pile on Steem because of the problems Steemit Inc has gone through with the falling out between @ned and @dan. The truth is that once HiveMind comes out, it will be in the hands of third parties to bring the masses aboard with innovative apps. The blockchain is perfectly capable of handling massive loads as it is.
SMTs too....that will bring in the real traffic.
Imagine if a couple decent sized publications with followings of a couple hundred thousand or so came on here with their own token.....what would that do for the traffic on STEEM?
Now add in a couple hundred sites with smaller followings.....
They'd all require STEEM for bandwidth. Has anyone calculated the numbers of how that would affect demand for STEEM?
I would be happy with 10 dollar price.
That would be nice but a lot would have to happen first.
That assumes quantum computers don't ruin all the witness nodes for a lot of blockchains in the next "x" years. Steem and it's members will have to stay above the tide over the years or it will be beat in a pool of it's own stagnancy in my opinion. :)
Steem has enormous potential. $100 price in 10 years would also be great.
This is crypto! I think a 25x move is possible this year with SMTs! :)
Useful I must say, this is what we all hope for. This is a great news, steem is the future I always say and you can all see my predictions are not wrong when I say steem is the future . Keep steeming and touching lives. Upvoted
This is a great news... Steem is the real deal
yes i am also want $400 in after 10 yrs.
and best wish for you.
I hope your predictions come true! We will all be benefiting from it of course. Some will become very wealthy, while some not at all. It probably won't affect me much, but it's still fun to dream. :-)
Have a good post and Steem and it's members will have to stay above the tide over the years or it will be beat in a pool of it's own stagnancy in my opinion. :)
Steem will outperform the market in my opinion by a factor of 10x in my opinion. So should be 4000 USD/Steem!!!!
Okay we will go with your number....I like that one. LOL
;)
Good point with the internet newcomers. There is so much slumbering potential waking up everywhere.