RE: Why Steem is HIGHLY undervalued
I agree. Despite the room for improvement that is evident within steemit as a blogging platform, it is no longer the stand alone proof of concept for the potential of the steem blockchain. We now have utopian, dtube, dsound, etc. The forthcoming launch of smart media tokens will further expand the steem based ecosystem and the crypto world's appreciation of it. The breakout to start 2018 is a sign of positive things to come, in my personal view.
To propel further adoption of steem, I would really like to see Steemit Inc market the SP delegation feature more aggressively. I recently just learned about it and I've been a member of the platform for half a year. It should be made easier to grasp and utilize by the everyday user, as it is akin to the promise of passive cash flow that Proof of Stake implementation will afford ethereum holders later this year; by allowing users to delegate their idle voting power and possibly earn a return for doing so, an entirely new market has been spurred whereby others can compete for SP delegation.
Great comment. It's definitely a hidden secret and most in the crypto space have no idea the kind of returns available to those invested in the platform and the markets that have come up around that value. If they did this thing would already be through the roof.
Agreed, it's a feature that is truly a hidden gem at the moment. And it's precisely for that reason that I don't quite understand why it hasn't been more loudly proclaimed as a distinctive offering of the steem blockchain by Steemit Inc.
SP delegation affords users the chance to be rewarded with a steady cash flow in exchange for essentially committing to holding their steem as SP. In so doing, it actually serves to reduce the amount of steem that can be traded on the internal market and on exchanges. This indirectly supports the value of steem and sustains price rallies due to its influence on supply and demand: the supply of steem becomes more limited and the demand correspondingly grows as more users seek to purchase it in order to power up and delegate!
So while the steem blockchain has a predefined inflation rate, that can be mitigated by more users holding steem as SP. What better way to encourage this than to highlight SP delegation? It has further fostered a free and competitive market here on steemit whereby voting services, steem based platforms, and general users all compete to be SP delegatees; one quickly realizes that there are differences in what these delegatees are willing to pay to borrow your idle voting power (and what they intend to use it and the earnings from it for) and delegators have the flexibility to delegate it out accordingly.
I would hope that in future updates of the platform itself, the delegation tool is built into user wallets. When I first learned about it myself just recently, I had to do some digging on how to actually tap into this best kept secret. I ended up using @justyy's SP delegation tool after stumbling upon it. It should be made simpler to both find and utilize for all users. I'm still adjusting to it and have more to learn.