This becomes a question of guessing how quickly facebook and twitter become irrelevant. They are both outdated legacy platforms now, full of insidious censorship, fake click farms, and rampant promotion of narcissism. Plus, if you aren't paying for the product, YOU ARE THE PRODUCT. I suspect identity theft's greatest gift in the last 20 years was Facebook. They just love to data-mine you!
These sorts of paradigm shifts happen too quickly to accurately predict - like the spiking price of BTC!
I think in this respect sites like Facebook and Twitter are advantageous for startups like STEEMIT. The 'social media' concept is already proven thanks to them.
This should hopefully make the transition to STEEM based sites faster once users realise the benefits.
you got it. paradigm shift indeed and there's a lot of momentum. it really depends on how much for everyone is having in using steem. The user experience will be the ultimate expression of value of the price of steem...which really does have unlimitted potential. This is the new economic model. Communication.
A $400+ million market cap seems unreasonable to maintain. We are just posting kitten photos, casual comments, and random upvotes. Can that really support this kind of value in the long term?
Market cap will go many Billions for sure. People are inherently the source of value. Take any other coin...it's ultimate value is derived by people. Some might say it's because of the energy spent on the mining. But, It's people. "Money is one of the oldest forms of communication" Andreas Antonopolous.
Steemit Network is all about communication. Within that, it's a free market democracy. Based on your holding's your votes are worth so much...it's communication. what you vote, what you comment....what people respond and so forth. Applications are and will continue to be built on top of the platform...creating more and more streams of communication....which results in more and more money. The current market cap of, reddit, twitter, facebook, instagram...are all valued in the billions. This platform is better.
This kind of value will indeed be supported in the long term...it's changing the narrative into the education of 'what is money....what is value....what matters?'
Invest in people.
It's all about people.
Twitter may go the way of the dodobird, but Facebook is likely here to stay.
time will tell. facebook could get on the crypto game. but it's platform is too kind of closed off like facebook is this boarder world...and steemit is boarderless..