RE: Taking a Realistic Look @ Steem Value & Growth
The real value of Steem is precisely what people will pay for it.
I don't take market cap into consideration when I decide to buy a cryptocurrency, and I don't think I've ever heard someone say 'I wouldn't buy that. It's market cap is too low.' Just seems like an arbitrary number to be used as an indicator... or in this case a ranking system over at CoinMarketCap.
"In addition to that, the price of Steem is currently very overvalued when you look at how many users are actually using Steem. Unless you are a speculator and are expecting big things to come from Steem in 1-5 years."
YOUR assessment is that it is overvalued, however the market seems to disagree. Did you consider that the maybe the vesting function actually adds value to the ecosystem? I would argue that it changes the game, much in the way that mining reward subsidies did for BTC.
The available supply is accurate in my opinion, because it identifies what has already been purchased by other market participants. The best way of evaluating the real value of STEEM? Simple.. current market price.
Fair enough. I agree with most of what you said. The real value of Steem is what people will pay for it. However Market Cap does matter, especially when a journalist comes along and writes that the market cap of Steem is $150 - $280 million. That information just isn't correct.
The available supply is not accurately measured either. The current available supply of bitcoin is not 21 million. The current available supply of Steem should not be 98.937 million Steem.