I think it's important to hang in there and focus on the positive. There's a website that's called blockitivity http://blocktivity.info/ that collects block activity and measures them against one another. It's also a financial tool though because they are comparing market cap of a coin (the total value of coins in circulation) to the activity on the block. They also share what capacity each blockchain is at. Here's where we stand today.
Steem is trading with eth back and forth for the number one spot on that list. The list is tracked by how many transactions happen per day. So, it's great that Steem is number 1. It means that we're often the most active community for all cryptos period, but there's more to it then that. We also have a much smaller market cap than coins that have similar activity levels or honestly coins that don't have any community around them. So if you compare Steem to Bitcoin our ratio of activity to marketcap is 1100 times smaller than theirs. Another way to think of this is based on block activity Steem is undervalued by 1100 times, and by block activity Steem should be trading at $2,200/coin.
But wait there's more!
Next part is that Steem boasts a lot of attractive features that the other coins don't have.
Convenience. I like having the name aggroed. I think this would be less fun if I was 345klbigl450435j3245jcock452345j2. I think it's easier to send money, and from what I see happening it's relatively easy to code things for this blockchain. It's pretty easy to login, send some money, and punt out a couple of blogs.
Transaction time. I hate waiting for btc and ltc transactions to clear. I sold the small amount of EOS that I had last night while it was peaking and dipping. The first time I sent the transaction it didn't go through. The second time it took forever. It's not just that I'm impatient it's that cryptos change quickly and if you're an active trader then 30 minutes or multiple attempts at 30 minutes could be 30 plus trades that you missed out on while shit was waiting for confirmations.
Steem doesn't have that problem. Because it's DPoS this bitch is fast. So, our transactions take 3 seconds. That's lightening fast, and you might actually be able to build some reasonable commerce off of it. Steem Connect makes that easy and simple.
- Transaction cost: Have you even tried to send btc recently? I might as well just give the miners all of it. This is an incredibly hungry network that's currently using double digit percentages of the world's energy supply. It's fucking crazy...
Steem and SBD are free to send! Stop giving the miners all your money and start trading in Steem.
- Transactions actually go through: Crypto Kitties is taking up 25% of the Eth network. When the next fad like that hits you won't be able to use Eth. BTC and Eth have around 120k unconfirmed transactions between the two of them. It's horrible. A year from now you're going to spend half your money just sending the money. It's worse than credit cards taking 2-5%.
Without any technological improvement Steem can grow it's number of transactions 300x and keep on ticking. Witness server costs will probably go up, but you'll be covered and ok. It's gonna be fast, it's gonna work, and it's gonna be free.
We're the gateway drug to the mainstream
Where are new people going to hit the market? Some really complicated coin? Some financial instrument? or a site where you can blog and get paid. Steem is a network built for a social media world. It might be a little tricky to get but as this price rises (led by SBDs) we're going to keep tearing off facebook, reddit, and other competitors and drag them into crypto. We're starting this process with youtube as well. Just this Sunday I'll have 3 people on a radio show with me representing 1.6M subscribers. And they feel incentivized to come over here because youtube is paying them less or nothing and apparently they like eating and being able to pay their rent.
Steem has one of the best outlooks around
Despite our user interface, despite our distribution, despite the learning curve we're gonna be the first to really mainstream and it's gonna add a lot of people and an enormous amount of wealth around here. I'm still just gonna HODL and stockpile this stuff as much as I can because I think there's still tons of room for growth.
I'm looking forward to what 2018 will bring. Get your shit together and carve out some more time for Steem because I don't think we can stay this undervalued forever.