Do you realize how big the market is for the steem blockchain really is?
According to Statista.com, the following are the account totals:
Twitter 330M
Facebook 2.0 B
YouTube 180.7M
Reddit 36M
Instagram 800M
That is 3.4 BILLION accounts.
Now I realize that is more users than on the entire Internet and there are many duplicates in the total. Nevertheless, this illustrates how large the social networking market really is.
Please keep in mind this number does not include all those on Wordpress and Blogger.
Basically, we are talking almost the entire Internet.
I got this image off a Zap sent out by @bleepcoin. It shows how the steem blockchain already has apps that mirror all the companies I listed. From this we can draw this:
Twitter................................Zappl
Facebook/Reddit...............Steemit/Chainbb/Busy
YouTube.............................DTube
Instagram..........................Steepshot
These apps have the ability to reach and serve the same 3.4 BILLION accounts. In addition, unlike those other services, these are all decentralized eliminating censorship while also enabling people to earn money.
While I know there are some programming/development issues to be worked out, all of these options can be legitimate competition for the present system. Considering they are all relatively new (some only really updating in the past week), I think we can see tremendous growth over the next couple years.
In the blockchain world, most of the value is in the platform as opposed to the apps. If the steem blockchain does become the main platform for social media, you are looking at the value of STEEM growing exponentially. It is imperative to remember that, unlike the siloed systems of today, the same account accesses all applications.
The fact that people can be funneled into the "ecosystem" via any of the apps, there is a unique opportunity. Once people enter one site, they have the freedom to enter all the others without doing anything other than entering username and their posting key. Their wallet, followers, and all data is "transferred" over to the other sites since they all read the same blockchain. Try doing that with the other social networking sites.
At this point, I feel, as much as I love steemit, the one way to experience astronomical growth is to promote Zappl. I wrote a post about this yesterday detailing the prospects of this. Basically, the fact the layout is similar to twitter means there is little learning curve. That, in addition tp the idea that individuals can get paid to "tweet", should attract a lot of attention. There are 330M users on twitter offering an opportunity to capture a few million with relative ease. To me, this is a golden nugget.
While it is easy to offer up pie-in-the-sky projections, I think it is realistic that the steem blockchain can easily garner enough users to have a worth of $2.5 Billion in the next couple years. To provide a contrast, Facebook present marketcap is $522 Billion meaning that the entire steemit blockchain would be worth less than .5% of the social giant.
That amounts to $100 a coin.
Trust me, the foundation is there.
😺 😍 😊
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Pics by Google Images