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.