Steem, the diamond in the rough.
To my long time viewers, it's no secret that I'm a fan of silver. Not only has it kept its value for thousands of years, but I also believe that it is incredibly undervalued at this point in time.
In fact, I often say that silver is one of, if not THE most undervalued asset on the face of the earth.
The total value of yearly silver production is worth roughly $17 billion at today's price. To put that in perspective, the value of the world stock markets are roughly $80 trillion.
That's right, the world stock markets worth nearly 5000 times the value of one year's production of silver (of which over 60% goes to industrial uses)
Bond markets are even larger, and is nearing $100 trillion. Don't even get me started on derivatives; many estimate them to be worth over $1 quadrillion.
The point is, just a small amount of money flowing out of those markets, and into physical silver, would turn the market upside down.
So, what does this have to do with Steem, you ask? Everything.
Currently, the Steemit platform has roughly .5 million users, and Steem has a market cap of slightly over $1 billion dollars.
Yes, the platform needs some improvements in UI, as well as some other nitty gritty things, like registration. However, the platform, along with the advent of SMTs (Smart Media Tokens), has the chance of enticing over 1 billion individuals to join the platform.
Will it happen? I can't say for sure. But the platform has been steadily growing, and 2018 will be a big year for it.
Currently, Facebook has a market cap of over $500 billion. A 500-fold increase for Steem would put it over $2000. I'm not saying that will for sure happen, I doubt every Facebook or Twitter user will join Steemit. However, the platform has huge potential.
Even so, the platform already boasts a healthy user base, and is one of the few blockchains in existence that actually has a real use, and is not just pure speculation.
That is why I believe that Steem is (currently) the most undervalued crypto on the market.
Image sources: https://i.ytimg.com/vi/ujWcF6oTnoI/maxresdefault. jpg
https://daylekinney.com/2017/12/26/26-dec-diamond-in-the-rough /