Okay, fellow steemitens, here I am sitting in front of my desk at 4:44 am in India, looking at this whole incentivised social media thing and contrasting it with the current market conditions. I will attempt to speculate about the price movement along with my long term view of this whole distributed enterprise.
First of all, I have to admit, this is pretty awesome!
But before that, let me preface by saying that I am one of those brave souls who invested in the infamous DAO in the hope of getting to the mun (Kerbal Space Program reference.... yep, I'm a linguistic genius). So there is no credible reason to think I will be right. I'm just moving on from one bad investment decision to the next, right?
To the point:
1. Incentivised social interaction amoung self interested agents IS the future of textual commentary. This is a reasonable assumption. But does it follow that steemit is the ONE, maybe, maybe not. I'm willing to bet some of my money on this though, seeing that real users are getting real money.
2. The platform is aesthetically pleasing, functional and pretty efficient for something that is in Beta, and to top it off I find myself spending time on this in the same way I spend time on reddit (which is a lot). I can imagine others feeling quite similar.
3. Long term trajectory seems to be bullish in so far as the payout remains fair and remains proportional to the exponential user adoption - This might be a challenge as there might be discrepancies between expectations and reality when it comes to payment frequency and quantity.
To conclude: I think its a bad time to buy right now, but not too bad an investment once the chaos settles in.
Also, Ive never got a dollar from social media postings, so a dollar as tip when I wake up in 8 hours will be awesome! Not that I did anything particularly time consuming.
Also, fuck you Zuckerberg!