People tend to be negative and pessimistic by nature. I guess this is a result of being raised in a bankster controlled system which espouses scarcity in an effort to make the minions comply to their wishes. Regardless of how we got here, we see this pessimism regarding STEEM.
I know, the price of the token is down....it sucks...it is not moving....Steemit has all kinds of problems...we need more marketing....on and on. People excel at complaining.
Ten days ago I wrote this article:
@taskmaster4450/steem-will-make-you-rich-so-why-all-the-complaining
In it I explained the difference between the steem blockchain and Steemit, the website. This is something people really need to keep in mind. Therefore, instead of engaging in complaining, how about we do a bit of analysis on the situation.
Curation/ContentReward System That Is Targeted
The curation/content reward system we utilize here on Steemit.com is revolutionary. We all know that one of the main benefits of this site versus the traditional social media sites like FB and Reddit is that people are directly rewarded for their contributions. Please let it sink in how revolutionary that is. It is a model that is easily duplicated and available to anything placed on the steem blockchain.
At present, we see reward systems in DTube, Zappl, DMania, and Steepshot. The reason for this is simple: they are all reading the same information on the blockchain. Hence, one's wallet "follows" him or her no matter what app (site) one is accessing.
The Market Is Huge
The Steem blockchain targets the social media arena. Since it has a content creation reward system, we see the possibility to revolutionize the social media world. Everyone who has spent any time on steemit (or any of the other apps) quickly realizes the payoff is greater than received from years spent on Facebook and the other traditional platforms.
I went through the major social media sites in an effort to get an idea of how big it is. Through that exercise I learned there are roughly 3.2 BILLION user accounts on all the major sites. I looked at Facebook, Reddit, Twitter, YouTube, and Reddit. Certainly, the validity of all these accounts is questionable since we know there are duplicates and bots. Nevertheless, even slashing it by 2/3, that is more than 1 BILLION accounts. Do you think it unrealistic that 10M of those people could find their way to some of the apps on this blockchain? When you understand that is 1% of that 1 Billion account figure, it is easy to conclude that is not outrageous growth.
My point is these people are already engaging in the social activity that the steem blockchains offers. It is only a matter of changing where they are posting things. Millions of tweets are sent out on a daily basis; these need to end up on Zappl. Millions of hours of video are on YouTube; let's get a sliver of that on DTube. Steemit easily replaced Reddit which has 250M accounts and millions of links on it. Simply redirecting where people focus their attention will cause a massive explosion of traffic on here.
Finally, all these numbers reflect an internet where only 40% of the world's population is online. Over the next decade, we will most likely see the rest of the world connected. This equates to another 4 BILLION users. How many of them will want to earn some money by engaging in social media activities? Considering many of those people are from some of the poorer nations, I am going to surmise making a few dollars a day is life changing. This is the power of the steem blockchain.
SMTs: The Undervalued Protocol
Smart Media Tokens were announced with great excitement by @ned and some of the other development team on here. However, outside of a small circle, most people did not take notice. In fact, even today, few are aware of what a Smart Media Token is and how it applies to this blockchain.
One of the main complaints about STEEM is that few people are aware of it. I see so many espousing about marketing and the need for more publicity. For a site (app) like Steemit, I agree completely. However, for the blockchain itself, we already have it. SMTs are the marketing tool that will make all in the publishing/content creation aware of what is going on here.
Do you know what a ERC20 is? Anyone who is around the cryptocurrency market for any period of time quickly learns of these. ERC20 is the protocol on the etherium blockchain which allowed for ICOs to be easily developed. Because of this, the price of Ether went from $6 to $400 in under a year. The ICO market exploded and took ETH along with it.
SMT's are steem's equivalent to ERC20. The main difference is that SMTs are targeted at the content creation market. Publishers, bloggers, and forum operators all will have an interest in this protocol. It makes token creation much simpler along with providing a built in content/creation reward system. Again, I ask you to ponder that possibility. Anyone with a site that creates content and has comments can easily implement this concept on their site. Therefore, they could easily use STEEM as the token or create their own.
Most mistakenly believe that other sites developing tokens does nothing for STEEM. This is not true. To start, when looking at the blockchain world, size matters. The more activity a blockchain has on it, the more valuable it becomes. Adding in high profile sites with lots of users, even if using their own token, means a lot more people on this blockchain. That will expand the size of the blockchain adding in tens of millions of transactions.
Another overlooked aspect to the SMT idea is the fact that, according to the SMT white paper, STEEM can be used on any site that is on this blockchain even if it uses another token. This means that your present SP will be valid on any site that ends up on this blockchain. Now, let me ask you, what do you think that does to the demand for STEEM? When people start to realize that 4 or 5 of their favorite sites that they comment on are on this blockchain and they can increase their standing on all of them by purchasing STEEM, what do you think will happen? Many will start purchasing STEEM.
STEEM: $100 Token
These are the reasons why I believe that STEEM will be a $100 token. Please review the list here again and see if you can dispute what is written. I would certainly love to hear contrary views. Nevertheless, when you remove the emotion of token price along with the whims of the market while engaging in blockchain analysis, I think it is hard to argue against what I propose here. Also, notice how none of this is dependent upon steemit or other apps fixing their problems, Wall Street buyers, or marketing on YouTube and Facebook (not saying that stuff isnt important). It is simply looking at the future of this blockchain and what will accurately reflect what is occurring.
In my last post I wrote about the $100K figure being life changing for most people in the world. For this reason, we have an obligation to try and get every user on here to that amount. This means having an account of 1000 STEEM if we attain the $100 token. The present bankster run system enslaves people. STEEM is one of the paths for people to break free. We need to do all we can to help everyone achieve this. Hence I urge everyone to support newer people who have accounts under 1000 SP. Together, we can change the lives of almost everyone who comes on here.
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Pictures from Google Images.