What is the true value of 1 STEEM?
With Steemit being the public face of steem right now, it seems to me that a comparison with Reddit is appropriate. Comparison uses Reddit statistics from 2015
| STEEM | Approximate Ratio | ||
|---|---|---|---|
| Total Users | 234M | 25k | 10,000 to 1 |
| Votes/day | 25M | 50k | 500 to 1 |
| Comments/day | 2M | 6k | 300 to 1 |
| Posts/day | 210k | 4k | 50 to 1 |
Reddit has a market value of approximately 4 billion dollars, so the current value of Steemit should be between $400k and $80M depending on which metric you look at, with Steemit doing surprisingly well on the posts per day front. What we see here is a small, but passionate community with high productivity on the post side. Web valuations have traditionaly been based on eyeballs so my guess is that the present value is closer to $400k than $80M
With over 100M STEEM in circulation, I estimate the value per STEEM is between $0.004 and $0.80.
That's a lot of uncertainty, and doesn't take into account the possible upside, or possible downside. Reddit is also a very different sort of beast, but this is just about the relative worth of the value provided today by Steemit and Reddit.
Sources:
http://www.breitbart.com/big-journalism/2015/07/16/ellen-paos-ouster-preserved-reddits-4-billion-valuation/
http://expandedramblings.com/index.php/reddit-stats/
https://coinmarketcap.com/currencies/steem/
https://steemd.com/distribution
https://steemle.com/charts.php
Don't forget. STEEM is growing faster than Reddit!
Also there is actually no 100M in circulation. 98% of it is frozen in SP, there is only 2M in circulation!!
STEEM Power should be included in the calculation, even if its value is probably much less per unit than for STEEM. Even though it's not technically liquid, someone could sell an account with STEEM power for BTC outside the blockchain. I'd be interested in how much someone would sell such an account for given that there's really no other way to un-vest quickly.
Ok this is good point, however the steem power is not steem actually, it is a distinct asset. Many wants to buy steem not for steem power but to speculate on price and dump. If you have separate trade on SP then we could argue STEEM and SP becomes unrelated which I guess would mean STEEM goes down.
Everyone, please sell your steem this cheap. Please. I'm still waiting for that dump for cheap coin.
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