Steem might very well be the next unicorn investment we've all been dreaming of as well as the main catalyst for a much brighter future.
"In 1-2 years I would hope to see Steemit operating on a scale similar to Reddit and its top competitors."
Dan Larimer (ex-CTO of Steem) [1] [2]
Steem's Potential!
"If Steem had Facebook's user base the Steem token would be a global currency larger than most countries and it would trade at market caps well in excess of Facebook."
Dan Larimer [1]
What Is Steem?
Steem is a cryptocurrency launched on Mars 23 2016. New Steem are emitted every 3 seconds. Posts with the most stake weighted votes receive the most Steem and rise to the top of Steemit.com or any other interface using the Steem blockchain. Steemit Inc is a company developping Steem, an open source protocol running the Steem blockchain. Click here for more information.
Price Per Steem Outlook
- Column 1: Years
- Column 2: Steem Inflation in %
- Column 3: Number of Steem which will exist one year after the original date
- Column 4: Number of Steem added each year
- Column 5-6: Price per Steem in USD if Steem reached Reddit's market cap of 5 billion or Facebook total equity value of 60 billion for that year.
These numbers are rough estimates. Another estimate of the number of Steem per year have been compiled by @abit and can be found here.
The math for column 5 and 6 is pretty straight forward. 5 or 60 billion divide by the total number of Steem. For the first current supply I took the virtual supply which take into account SBD. Facebook's market cap is around 314 billion. Mark Zuckerberg own around 30% of it. In comparison Bitcoin market cap is around 16 billion and Steem stands at around 40 million.
A Deeper Look
Those numbers only part of a fun thought experiment and should be considered as such. Everyone has to be their own judge on the value of those numbers and their accuracy. Either way, good or bad these numbers won’t really matter with the main points of this posts, yet I wanted to share them and put them into more context.
- 10,000 Steem are worth around 730$ today and according to this chart could be worth around 100,000$ to 1,160,000$ in ten years. (03/05/2017)
- 1,000$ worth of Bitcoin in January 2011 is worth around 2,000,000$ today. (2011 price at 50 cents and ending price 1,000$)
- In 2005, David Choe was asked to paint some Facebook office with graffiti. Facebook was 1 year old back then and David took the offer to be paid his 60,000$ in Facebook shares. Eight years later David made an estimated 200 million when he sold his shares at the ICO. 2,433,090$ per 730$ of his shares. [1]
Sometimes things that seemed totally impossible become reality. No investment of time or money can compare to those kind of unicorn investments. They are very rare and most of the time super risky. I could have gone deeper into the analysis of the Steem economics and I most probably will in the future but at this point I feel like I’ve share more than enough to further my case, Steem is worth investigating.
Disclaimer: I currently own 31k+ Steem (5,200$) on this account and almost as much on an exchange.
Influence Is Key
Controlling people’s attention has value. This is one of the reasons why Super Bowl’s ads are worth millions and this is one of the reasons why people are bidding to buy Steem. You’re either the one influencing Super Bowl’s fan or you’re the one looking at your competitor doing the influencing. This will also become true of Steem.
Everyone is trying to influence everyone else, that’s a big part of what life is all about. Companies are employing people and firms to control the information and attention flowing on the internet. Most major brands have their Facebook, Twitter, Instagram and YouTube. Some brands are practicing astroturfing or have people dedicated to make their brand look good on the internet. Companies also pay some influential people to use some of their products and review them.
Here is one very interesting video about how Reddit is being manipulated. This is the follow up of what has been a very popular video.
There will always be someone somewhere ready to pay to influence a group of people. The more people there is to influence the more the buyers will be willing to pay to better influence the group.
Steem Pays Its Users!
Steem will always be better than Reddit as all the Steem users have the possibility of getting paid and the algorithm to influence Steem cannot be rigged. Reddit is just one example amongst many websites Steem will challenge and it really seems like Steem is set to overtake Reddit. Steem pays its users, others don't.
I'd love to see how someone would argued other websites stand a chance against Steemit. At first, we might have a tendency to think Steem can't beat Facebook and Youtube's popularity. Give it a second thought and it might be the other way around. Can Facebook and Youtube compete against Steem which is a currency, banking system, decentralized stake based voting system as well as a platform rewarding all of its content creators, not just a fraction of them or only for a specific format?
When everything else is equal people usually flock towards the best monetary incentives. Steem can already do more than what Facebook and Youtube can do, though some of it has not been implemented yet. In the near future it should be possible to rank posts according to who voted for them according to their Steem wealth and other parameters.
Also Steem can’t be censored and there are so many Reddit, Medium, Twitter, Facebook, LinkedIn, Instagram posts which would pay their authors if they had been posted on Steem first. There are many reasons why Steem hasn’t been used more widely and the primary reason is that most people don’t know about it yet.
Resistance Is Futile
The only reason not to post on Steem first would be to resist Steem so that profit goes to legacy companies aka centralized company and those who own their shares. Resisting seems pretty futile, Steem’s more logical business model will prevail. This is one reason why I know Steem will soon overtake a large part of the business of legacy websites like Reddit, LinkedIn, Instagram, Twitter, all news media websites and eventually Facebook and YouTube.
A large part of the legacy banking and money creation is also being overtaken by cryptocurrencies and Steem’s future seems very bright in those regards. This will most probably be resisted by most of the billionaires owning much of the world’s wealth. Yet no matter how long they will resist Steem will continue to attract a growing number of people and thus investors.
The more people interact with the Steem blockchain, the more valuable and meaningful its consensus will be.
The Power Of Stake Based Consensus
I know I’ve talked about this in a previous article but not quite how I’m going to put it. Let’s take Facebook market cap of 314 billion and divide it by its roughly 2 billion users. That equal to 157$ worth of shares for every users and this equal to a 314 billion $ consensus.
The most pressing issues of 2 billion people and their love ones will be trending. Corporate frauds, governmental frauds, the legacy system of governance and the rigged fiat money creation system, etc. will be trending as well as their most popular and best expressed solutions. Can we fathom how such a powerful thing that would be?
Whenever a big corporation like Google or Apple or a big governmental institution schedule a conference, product release or emit a press release the whole world knows about it and the markets and the whole press react. Imagine how things would be if one of the biggest if not the biggest company in the world become Steem where its "shareholders" emit "press releases" in the millions each day and the most acclaimed inevitably make it to become the most influential? Every Steem "shareholders" would become an entrepreneur in their own right.
For any representatives or owners of big corporate and governmental entities down voting any trending posts will be very risky, most probably unthinkable.
Trending Posts With Million Of Upvotes
Trending posts will be receiving millions of votes from people who think these posts are about the most pressing matters and valuable solutions and down voting them will only redistribute money to all other trending matters/posts. It won’t make those down voted post less visible either. The authors of such post will be followed by most people and their follow up pieces will be highly awaited.
I'm not saying Steem is the solution to everything. It isn't. I don't pretend to know the future either but I work for the future and I want to see and Steem plays a big part of it at this moment. Right now Steem's trending page is populated by the best ideas of around a couple thousand people.
*Dan Larimer (@dantheman) ex-CTO of Steem explains the future growth of Steem's value from a totally other angle than mine. It's a very enjoyable read. Read it here.
Enjoying Life And Freedom
Enjoying life is of the upmost importance, thus our ability to protect our life and freedom prime over everything else. We might have forgotten those facts but that’s in part because we have been conditioned to.
We can never be totally neutral towards any wars or all of the existing national, supra national entities, their representatives and how they relate to one another, us and freedom. Freedom isn’t just another subject and prioritizing isn’t just some other concept or at least it shouldn't be. Everything we say and do which have any importance is part of our priority and freedom shouldn’t have ever been relegated to a second class subject.
We cannot do away with the repercussion of neglecting freedom and we cannot delegate self-defense nor can we delegate defending our freedom. We can pool our forces to better defend our freedom but this isn’t neglecting freedom, this is the exact opposite of not caring.
I’ve expanded further on this topic of Steem’s relation to truth and its future implications for society in every chapters of my book and I’ll continue to do so with every new one. My intentions aren't to secure more money to myself leaving everyone with less money.
My actions are geared toward creating more wealth and understanding which bring joy to my fellow humans or as stated in the introduction of this book: "I aimed at helping those who can have the biggest impact on making this world a better place and hopefully create a virtuous cycle of such people."
Marketing Steem
Sooner or later incentives will make people join Steem but accelerating this process might be a good idea. For one, all posts that will bring in substantial amount of interest to Steem are the posts which are rising Steem's value the most and in turn have a higher probability of being highly rewarded.
If a celebrity joined Steem with a one liner saying: “I will begin posting here every day exclusive stuff” and then reposting this post to all their social media, such a post wouldn’t seem to bring much value on its own but in the end, it could bring a crazy amount of people one click away from our trending page and this on a daily basis.
Also whenever we bring new people in, there is a high chance that they will be recognizant and help us in return. We also have a tendency to attract people that hold the same values as ours. If I could bring in just 1 of my favorite author here on Steem I could in some way consider this doubling my productivity and because this person could also bring in more people than I can do alone we can easily realize the value of bringing in new people.
Working Wisely
No matter how good our articles are, they won’t generate much interest if they aren’t shared. The best person to share our own articles are ourselves. If we don’t believe in the benefit of sharing most of our own articles outside of Steem then who will and why are we writing those articles for in the first place? If our articles are good and Steemians loved them, that’s good but that won’t bring much new people on Steem and remember, large Steem Power holders wants to see Steem growing and will reward those kind of posts.
Also no matter how hard we tried, we could never bring as much people to Steemit as a celebrity would. On the other hand we could all pretty easily influence a celebrity or at least famous Youtuber, writer or well off investor to begin to enter in a mutually beneficial relationship with Steem.
Attention Flow
A large proportion of what is consume on the internet is the newly created stuff. There’s an inherent incentive for people to constantly create new Steem content so that’s taken care of but I felt like it needed mention.
Intentions
Our article’s titles and thumbnail pictures should be designed to get us clicks from the outside world to Steem which is the very beginning of everything for any website. Not only this but our articles should always have a place reserved to teach people why they should sign up and learn about Steemit.
No matter what it is, be it a very simple invitation at the bottom of our articles directing people toward a valuable Steem introduction.
Sign Up!
You love blogging?
You love making money?
You value freedom?
Have fun and sign up!
It only take a few seconds!
Buy Steem
With a credit card (very high fees, not recommended)
With Bitcoin (blocktrades.us/ @blocktrades)
With Bitcoin (list of exchanges)
Busy.org
I’ve been mentioning only Steemit.com to simplify my text but all websites interacting with the Steem blockchain should be considered. Busy.org is one in particular I want to mention. Here’s one interesting thing they’re working on which is sometimes refer to as a super app.
The Ultimate SteemBook
This is part I of chapter 12 of my book “The Ultimate Steembook”. The previous chapter consist of an explanation of Dan Larimer's philosophy which I recommend next for anyone wanting to learn more.
Part II should be up later this week.
Very interesting, I'm fairly optimistic on Steem as well, I think it's true strengths will lie outside of Steemit, when a twitter like version is polished and released.
I feel that twitter has the largest set of 'content creators' not already being remunerated, and would migrate over in droves if we can provide the platform. Facebook for the average person is mostly about keeping in touch with friends and family , and Youtube already pays its content creators, so I feel that the barriers to competition there are a lot higher.
Overall I think that a market cap of 1-10 billion is on the reasonable side of optimistic for Steem, but we can always dare to dream bigger.
I agree that twitter user might be the easiest to shift to Steem. I think Redditors would also be quite easy to make the shift. I think it's only a question of time.
I agree the market cap thing is more of a dream than a assurance yet as good as it might look, my mind is set on some other thing than money. I can't deny people are dying over the lack of it and so currently money is a big part of social change I want to see and put my mind to but I try to avoid going insane over money, always wanting more and forgetting the more fundamental stuff of life.
Guess we will have to see what will be happening to steemit with that new ux team. Also with the new updates that will be coming. But i do look forward to the new look they might be doing. Rumor has it a new logo for steemit might be in the works.
I agree that a new ux is pretty exciting to think about.
I love this! It gives me butterflies to think about what Steemit can become in the future! I'm so excited to be a part of this platform so early!
Yes! That's it! It is so very incredibly exciting. I totally agree!
Can you imagine steem going back to its all time high price level? That was like 0.0075 BTC last year and current price level is at 0.000145 btc. Wow! That's like 51 times its current value.
I believe that could happen anytime soon.
I mean, have you seen steem surged with volume going 4times its alltime low? And just lately SBD shocked the market with 7times pump. Those are clear indications that the market is starting to reverse its sentiment toward steem as a viable investment platform.
I totally agree. Also the Steem registration could go wild in a flash. I expect this at some point. It might not take that much for us to reach the tipping point.
I hadn't seen your comment. That's why I didn't answered it sooner.
Nice posting! This will help me to promote steemit thourgh other social media platform. Just share your posting, it will save my time to explain to others. Nice ! :)
Cool! That's exactly why I wrote it. I'll try to send it to at least one person but probably a lot more depending on the success rate.
We know Steemit works at the current scale. Lots of people are making good money. I'm interested to see if it can scale to millions of users. We're already seeing comment spam. There will be many desperate to make something at any cost. For people in poorer countries even a few dollars can make a big difference. I hope Steemit will go viral at some point, but we can't tell where the new users will come from. I want all to be welcome if they have something to contribute.
Beautiful post! And what I also like about Steemit is that it is not censored. Some reddit forums are so filled with moderation that you can only read their blatant propaganda.
You're right. Censorship makes Reddit and all other centralized websites very poor compare to a uncensorable platform like Steem.
Great post and a good read. I'm excited about the future of Steem and all the killer apps that people develop based on the Steem blockchain. Something to rival Youtube would be awesome.
Yeah! It's all fun to think about!
"Facebook's market cap is around 314 billion. Mark Zuckerberg own around 30% of it."
That is good to know he owns about a 1/3rd
I agree. This is clearly something to keep in mind when thinking about Steem or any investment really.
I am NOT saying Mark Zuckerberg knows my "thirds rule strategy"
But you are clear about keeping it in mind for any investments...
There so much information here, reassures all of us about the future of steem and reminds us how lucky we are to be part of early stages. We will probably look back in the future and remember these days smiling at each other.
When I read lines, "Steem was created in Mars", I was like that's where I am from. Then realized you meant March :)
Haha!
Yeah March is mars in French. That's where my brain let me down.
Nice post!!
Thank you!
You will be assimilated
[or asSTEEMilated?]
Haha! AsSTEEMilated! Clearly!
Meant as a compliment. ;)
I specialize myself in out there stuff.
A community of great minds, incessantly "mining their their stake(steempower, steem, knowledge, service, dreams, fulfillment, home, legacy, CEOism) with minds" is the most genius model on earth! Now, if this is happeninig on a blockchain, then what more can one ask for? if steemit is able to remove technicalities to make it easy for non-crypto people and business to adopt, then steem moon-rocketing will happen fast, if not, at time flies, the world will have progressed and learn a measure of crypto. Regardless, steem moon-rocketing is imminent! Everyone on steemit is like "are you pondering what i am pondering" and people who are not yet pondering are wondering. "The mining is incessant"
Mining their stake! I really love how you have put it!
Excellent post. I needed a kick up today, thanks
That was me 2 days ago. I'm glad you liked it.
Highly rEsteemd! Valuable post!
It reads like a "Companion's" Guide to SteemIt.
I appreciate THIS Great Work!
Thank I really appreciate!
All aboard the Steem-powered hype train!
Yeeha!
Hope Steem will prosper and kick some ass, one thing though, why is steemit not an app and why its interface is that basic?
Great post! Thanks for the advice and insight!
I enjoyed your post. Very well written. Also reestem.
Thanks! I really appreciate it @oldtimer!
Great post @teamsteem couldn't agree more. UP/RS.
Thanks for the UP/RS! I really appreciate it!
Honestly I don't know of any other site that can touch this platform.
I share the same feeling!
Fantastic post teamsteem
Thanks @benjojo!
This should be the official steem ad, nice work. I agree with every point of you and hope that steem will get more popular in the future.
Wow! Thanks! I really appreciate the praise. Steem adoption is poised to happen and it could happen really fast.
good interesting...
nice post.
good luck.
@teamsteem
I am glad that I joined this platform, I hope for a great future and prosperity.
Before Steem I was still hopeful but Steem makes hope a lot easier.
This is the ultimate Steemit promotion! Relatively short and concise. Maybe only if you put in some pictures that show human side of it all. Maybe quotes from key developers under the picture or something like that!
Wow thanks! Nice recommendation. I might do it. I think about one in particular that could definitely had to the post.
I appreciate all of the thought and time you put into this post. It's quite helpful in explaining a few things for folks like me who are new. Thanks very much.
Your subhead:
"Steem might very well be the next unicorn investment we've all been dreaming of as well as the main catalyst for a much brighter future."
...is characteristic of what many of us, including me, are earnestly expecting.
My question though is that if you truly believe that, why are you powering down?
I'm glad to see my post helped you.
Good question. It's mostly because I forgot. My last power down 6 days ago, I power it back up. I think we have reach the bottom price yet it's always a tough call. I might restart my power down or just power it back up. I'm pretty sure I won't be withdrawing.
https://steemdb.com/@teamsteem/powerup
Thanks for the explanation. It just seemed a bit inconsistent and I am curious about what people say and even more curious about what they do.
Yes. But we seriously need a referral option to bring in new users.
You might be right but I think the fact that if you bring anyone in they'll remember you as long as Steem exist. Also if Steem works as I've described it we'll be able to put money in (buy Steem) and get money back (sell Steem) at a huge profit which I think could make up for not having any referral. We'll see.
Hey there, I remember months ago, I tried to find you on Twitter and may have even sent a message to one of the accts that looked like you -- your picture being used.
I saw comments from you recently saying you were planning to set up a (new?) twitter acct. I found one that now looks like your acct but the other ones are not- even the one w the photo of you?
This one is my new one. The other one with my picture, I can't access it anymore.
https://twitter.com/TeamSteemLive
Got it man. Thanks
Great post and I couldn't have drawn it up better myself. Steemit is going to completley change the global scale and balance out the wealth according to his/her deeds. It is such a great time to be here since the beginning of this network and we are blessed to have such wise people creating these ideas where we can share the same dreams. Namaste~
Your comment was such a nice one to read. It's cool to connect with people who are sharing the same dreams and have the same visions. Namaste!
It truly is remarkable to see people coming together who understand different pieces of the puzzle, but all have value! When I first got onto steem last April, I knew then and there it was the apple,google,facebook, youtube, craigslist of our generation. So blessed to be in it from the beginning! Thank you for the kind words and God Bless!
Excellent post!! thank you for sharing
Excellent post! I like your work My friend
(~.~)
Thank you so much for you comment. I sincerely appreciate it.
I like your post! 😻
Hey thanks! I had missed your comment. Thank you for commenting.
this is awesome!
I'm glad you enjoyed it and took the time to leave this comment.
Awesome post. I can't upvote this enough!!!
(I could upvote more but only when my SP has recharged a bit :) )
Edit: Oops I see this is 3 months old, so my upvote wouldn't do much now. Anyway, still a great post :)
Steemit is here to stay and grow big and fast (it is happening) .
I think the site will hit new high levels when youtubers,instagram users and general high level social media "stars" will join steemit ( i am not talking about actors,singers,tv stars etc this will explode the site)
Wow...congrats! Keep on steemin in the free world! :)
I am new to steemit. The way you write these articles grab the reader's attention. Thank you for sharing
i hope there are a few people out there to protect earth, together with this company:
https://steemit.com/bitcoin/@linardis/6cvzdk-avalon-vs-goliath
i hope there are a few people out there to protect earth, together with this company:
https://steemit.com/bitcoin/@linardis/6cvzdk-avalon-vs-goliath
You're right! Thanks!