Who would've ever thought...
During each of our introduction into Steemit, we were definitely told that when more people join Steemit the price of it will start to skyrocket. It sounds correct and up until now, I'm convinced my new perspective provides a good insight.
Give & Receive
Steem's circulation structure is one of the most unique ideas ever. Everyone knows how Steemit gives and it's quite unknown to the new user how Steemit receives.
The advertising model. Many users are signing up to Steemit with the incentive of being rewarded for their posts or even to connect with those interested in blockchain. People with blockchain projects often target people who know about it as it would make the accessibility much easier(getting cryptos, storing in wallet, send/recieve etc).
We can all agree that Steemit is one of the best places among Reddit, Bitcointalk, Medium & Twitter to interact with the blockchain crowd. These people can easily become a magnet on Steemit and get loads of people to engage with their posts if they invest in the platform and in return get power - Steem Power.
Is It Working For Steem?
From my observation and research, I would have to say yes. However, this model is giving Steem a slow way for it to increase it's value...create a bigger demand for Steem.
This is where Smart Media Tokens come into play.
The idea is brilliant but isn't new as it follows a similar model to Ethereum as mentioned in the whitepaper. Page 56 of the whitepaper is my favourite part as it's the section where it explains how it will create more of a demand for Steem.
SMT token ICOs.
This will work just as it's doing for Ethereum and Neo.
Wild Steem Price Prediction
With the amount of developers who are familiar with the Steem blockchain, Steem already has incoming SMTs.
My guess is $50 by Q4 next year
more than anything the ability to curate and build a community with a blockchain powered token is the absolutely best thing that's come along for a content creator in the digital realm in like, forever. it's gonna change a lot of peoples lives and i hope, distribute wealth in the process.
Yeah, huge props to Ned for thinking of this idea.
$300 plus
because: worthless coins like Litecoin is trading at $250
Interesting you said that as I was thinking about the purposes of these coins, with litecoin in particular. Once people start to recognise most coins don't really offer anything, steem's market cap will moon.
exactly - Coins have no intrinsic value.
On twitter they keep saying - fast tranfers / you avoid banks at all prices.. $2 - $200 - $2000k
anything...
The coins are useless
Paypal does the same thing but banks are involved so what? is everyone a criminal? people are ok with banks...once paypal adopts blockchain and the banks as well... and the transfers are instant.. LTC BTC VTC will move to 0 overnight
Real world use case has to be there eventually..
Forget about BTC - its STEEM thats the real HODL
ethereum / stratis / eos -- waves lisk there platforms still have some value