How Much Can Steem Be Worth In The Future? Impossible $3121/STEEM?
Sometimes, we have to stretch our imagination...
Here we are, popping the champagne, with a ~$5/Steem. Engagement is up, sign-up are up, alexa rankings getting better, traffic going through the roof. It's good times.
But yesterday, I had fun comparing what Steem could be when it will be it's in "mature" form.
A lot of people compare steemit.com to Facebook...and I think it's a sub-optimal way to look at things when we want to see what is the true worth of the steem blockchain.
Google is a better comparison
The more apt comparison would be to compare Steem with something like Google. Google is an agglomeration of multiple technologies and services that stacks on top of each other. It has search, analytics, advertising, social media, email, chat, live streaming, etc.
Steem is more than steemit.com...it's an agglomeration of all the businesses that stacks on top of it. It solved multiple problems at once. It does instant and free transactions, allows to incentivizes behaviors on social media and probably does other things that we haven't even considered yet. (think cryptokitties)
So far we have:
- Steemit
- D.Tube
- Dsound.audio
- Esteem
- Steepshot
- Utopian.io
- Zappl
NOTE: All of those project do not have ways to sign-up people directly...IMAGINE what will happen when any projects can onboard their own users!
Alphabet(Google) Market Cap is 770.25B
Google market cap alone is bigger than the whole cryptocurrency market cap put together(718B)...for now.
In the next 5 to 10 years, we will see massive adoption of the blockchain and STEEM arrived just at the right time to capitalize on this future growth. We are way ahead of any competitor who might attempt to figure out how to do what we do now.
I am confident that with all the services that will be built on top of STEEM, that we could see STEEM in the future reach similar heights. That would mean, discounting STEEM inflation, that STEEM could potentially be worth $3121/steem.
No one that is here right now would complain that they weren't there at the ground floor. 😂
$3121/STEEM is impossible?
3 years ago, you would have told me that bitcoin would reach $20,000 I would have told you to take a walk...especially because in my mind it was so flawed. But here we are and people are already talking about $100,000 + per bitcoin.
We fundamentally do not know what we are tapping into with this technology and how disruptive it is. STEEM being worth as much as Google is not too big of a leap when you consider what it can do for social media alone (discounting what it can do to payment and money transfer)
It's not in it's final form yet
Don't get me wrong, STEEM has a lot of maturing to do. It has many flaws that makes it sub-optimal right now. But everyday, people are working at making it better. I have no doubt that with time, what we complain about now will subside and make place for incredibly innovative solutions.
Get ready because it's going to be a wild ride in the next 5 years.
I get teased about my absurd claims yet not even I have ventured into $3K+ STEEM ($1K is my max so far).
People do not realize how big the blockchain market will become.
There are a couple ways to look at it.
To start, blockchain is 100x more powerful and disruptive than the Internet was. Since that ended up as a siloed system, innovation was stifled. Now, with decentralization, there are thousands if not tens of thousands of developers working on blockchain all over the world.
Cisco did a study and concluded that the Internet is worth $19T (this was a few years ago). 100X that and you get over a quadrillion dollars. Is that possible? It could be.
The second way to look at this is to consider that the entire GDP of the world in 10 years, with AI and other tech, be over $100T...maybe even closer to $125T. At that time, 90% of all commerce will be done on the blockchain. So is a 10 multiple outrageous?
If not, then you top a quadrillion again.
At that point, a blockchain worth a few trillion is nothing.
Man bots are gonna be a huge part of the work force. Some people are speculating that AI will 1) make humanity largely unemployable, and 2) that the AI's income will have to be garnished to pay for a Universal Basic Income to prevent wide spread looting and starvation from the massive unemployment. Interesting and concerning times.
The tokenized world will be the basic income. People are going to be getting paid for doing the things that they normally do. Steemit pays people to post, comment, and upvote, activities done on Reddit, Youtube, and FB everyday.
This is the first of thousands that will emerge over the next few years.
We're basically going from a society where humans did everything for farming, mining, producing, to a AI/Robotised world where we humans, that grew addicted to social media and the internet get paid to support and surf on. The richest ones being the most creative or interesting or entertaining individuals. At this point, even VR will be another beast, and simulations will be in the neighbourhood.. Basically, in a nutshell.. Shit is going Faster and Faster and it's mad to be a part of it
Absolutely @reddutopia.
Add 3D printing to the mix where, eventually, people will be printing out a fair portion of what they need in the house for pennies on the dollar.
There is a ton going on and technology is moving ahead rapidly. We havent even begun to see what is going to take place.
Good point about VR....it went through the crash after the hype cycle and appears to be coming back strong....the developers seem to have made progress and are looking to bring it to market.
5G will really help that technology which will be around in 4 years (In the Western countries at least).
Ever seen wall-e
@taskmaster4450, agreed this is very possible, you are valuing it at the higher end on the upside as of today, but very possible. Being the pioneering force, and having a LOT of benefits over your competition, this enterprise knows no limits, on those put on it by the public investment. The public knowledge of this on the investor end is very little-from previously being nil. By the way, a 10 multiple is for companies in experimental periods with little experience of meeting street expectations. Every consecutive quarter Wall Street gets their minds together enough to start making educated projections, and this platform delivers, the sky is the limit, and yes $3121.00 steem is totally in play over the coming years. Thanks for the article, keep up the great work @cryptoctopus!
😂 what should i be the first to say 5k steem
I do believe that honor goes to you.
Yes!!!! I did it.
until blockchain goes mainstream we will still be baffled by how big steem can be, but the future has arrived and steem positioning itself as the future of blockchain then the potential is big
In a way, Steem is getting into the 'early adaptor' fase. We are having small pools of users from all kinds of demographics..
Especially in developing countries, Steem could be growing big fast.
The way the inflation of fiat currency keeps increasing the total supply, a quadrillion dollars is an easy achievement ;P
I really hate that comparison. It puts in people's mind that they can just upload links or video without any effort in hopes to make a few SBD. I prefer to compare Steemit to Medium but even that falls short a bit.
I think this works to a degree since we are able to do so much on the STEEM blockchain. This still may give the 'average Joe' the wrong idea but with a bit of explaining why we see it like a new Google it will pan out better than the old Facebook comparison.
For sure, but just as you said people are working to make it better everyday. Even I started to work on a STEEM project recently. There are so mean devs and programmers out there that are able to take this platform main stream.
Great post as always mate!
J. R.
While I remain hopeful I try to focus on growing my crypto, not my fiat value.
I can't control the price of any coin going up or down. The only thing I can control is how fast I accumulate crypto by researching trades and spending time on Steemit.
While I'm very hopeful you're right (with my small SP I currently have that would make me a millionaire), I can't afford to get lost in the clouds.
No one believes me and my parents think I am crazy but honestly , I have a dream of being able to buy a house for my parents and my family , I want to raise my son with a life I never had.
I know the price of Steem has potential that’s why I’m going to save it as a future investment . They will laugh until they see me successful one day @cryptoctopus
@cryptoctopus - Sir when it reach $3000 you will pass Bill Gate & we all can be happy... One more thing Sir, your gift of Loyal fans will earn millions of $$$$ from you too Sir... Future is so clear & wonderful with STEEM Sir...
+W+
I hope it will be, then it changes my life and from a lot of others. I can't wait to be independed.. I am busy now with my future..
It is possible, and i Will stick with It to see How Far It goes. But like you said, this is a total New technology, with a lot of not yet seen potential. Its not possible to know 100% for sure How things Will end.
Who knows, maybe some one on the future do something that do evento better what steem does.
We all have to pay attention to that.
$3,000 a steem would be cool, but I'm not much for predictions. If anyone would've told me in 2011 that bitcoin would've hit $14,000 in seven years time I don't know if I would've believed you, but I think that is mostly because I thought bitcoin would be a great currency used to quickly exchange value from one person to another, I understood it was speculative, but I could've never imagined people using it as a currency if it was so expensive per coin (I guess I was kinda right about that, It's getting harder to find someone that actually uses bitcoin as a currency and not as a stock to hold).
Now a days I like cryptos that have utility (or at least the potential of one) Ether and steem (I think) will be the new paradigm (but again, I'm not much for predictions).
I just want to say one thing that impossible word itself says I m possible, so I believe that steem will go much higher than that. So many applications have developed and it's just the beginning, the real game will start after SMT . So just be patient and have faith on people like @cryptoctopus and work with the community to make it better. Steem on . Have a nice day.
Personally, with all the flaws I see with Steem, I don't see it happen. But I do have to admit it's still in its premature stage and things could change in due time. If things come to mature properly and Steem is to stay the #1 in its specifc utility, then yes, it could happen. I see EOS have 1 trillion market cap 5-10 years from now (unless competetion arrives of course ^^), so it ain't too far fetched. After all, Blockchain technology is gonna revolutionize things as we know it.