1 MILLION STEEM Accounts - This is What Real-World Adoption Looks Like
A few days ago, the Steem blockchain surpassed the million account milestone. In my opinion, this is a HUGE deal because it represents true real-world adoption of blockchain technology.
Also, as I discuss in this video, going from 0-1 million is much, much harder than going from 1 million to 2 million, or 2 million to 5 million. This means that the sky is really the limit now as we could expect to witness exponential growth of Steem.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
There will soon be a collective realization within the crypto community that Steemit is on track to becoming the most successful blockchain. The 'flippening' may turn out to be Steem taking over all the other cryptos.
Yes, I believe Facebook had something like just a few hundred thousand accounts the first year in existence. It was not until later into year two before it started getting millions of accounts. It was until the years 3-5 is when the real big adoption starting happening. If Steem can successful roll out SMTs and communities that would solve nearly all the problems faced with Steem today, which would open the path 10's of millions of new accounts. Fingers crossed.
Thanks for doing some publicity to steemit Louis, today steem is performing well. Although it must be said that in reality the active users are around 60 k and among these there are several bots, but equally we will continue growing
This greatly shows that more and more people are embracing blockchain technology and especially steemit, the platform is changing lives of people all over the globe and I can predict that before the end of this year that the mumble of people will surpasses 2 million people's which will greatly influence the price of steem and make steem the top 10 crypto currencies @louisthomas
Steemit is really greet and We have got many things here and learned a lot. Here are a lot of good people who are teaching us and constantly teaching us. We will be grateful to them.
My post about steemit 1000000 user:
https://steemit.com/steemit/@anikearn/1-000-000-steem-account-users-celebrate-db54de8f8579a
As a steemien it would be shame not knowing about Steem having the most transactions of all cryptos combined. That’s correct, more than all cryptos combined. That’s great to finally reach 1 mil. users. It feels like a breaking point in some way. What a milestone. Great comparison between ETH and Steem transactions. It’s basically different mechanism. Blockchain technology is evolving at pretty fast rate. People and companies are finally adopting. Perhaps those who say it’s all a Ponzi scheme will eventually get on board as well. As you said, this adaption is legitimacy of crypto as a whole. I don’t like to guess, but I guess in the next year we will reach 2-3 million or even more. I will definitely be around to find out.
Great inside info! It took more than two years to get to 1 mil. I wonder what the next two years will look like. Perhaps 5mil? Maybe more. Great to hear about Steem having the most daily transaction of all cryptos. Not only that, all cryptos combined are not enough compared to Steem. I agree with you about getting from 0-1mil. was probably the hardest. With time more and more people will adapt. I definitely see Steem as a future, not only steemit platform. All SMT’s and other projects using Steem. It’s just exciting to be part of it.
Facebook last quarterly earnings said it now has 1.45 billion daily users. This is the key metric they follow as it determines the target for advertisements which is what pays the bills for Facebook. Therefore, this is an excellent example of how a platform can create value because of the interactions of a community. Taking the daily users, we find that each user generated $8.28 of sales for them during the quarter. From a net income perspective, it would translate to $3.44 per user.
These metrics are really interesting as it could serve as a comparison to what we see on the #STEEM platform. While I am still learning about how the blockchain issues rewards, I think the comparison figures are promising for those of us who want to grow on #STEEM and its ecosystem. As per @penguinpablo, we are currently at 66,160 daily active users. If we use Facebook metrics, we could generate $547,531 in revenue on a quarterly basis. If we divide that up to an average daily amount for the Blockchain it equal $6,084 per day. I think that current daily reward pool on #STEEM is much larger. An article from 10 months ago had the daily rewards pool at 49k STEEM which at the time was at $2 each. This figures eclipses by far the $6,084 metric from Facebook.
Given this, if Facebook users enjoy the concept, they will seek better opportunities like Steemit.
It's quite simple actually. This gives more reward than Facebook. Your Time and Energy is worth more. Something that gives you so much more value will eventually be adopted by the mainstream masses. Perhaps not this Blockchain but Blockchains similar to this.
And the best part is that the market is so huge that it will be impossible to saturate it. The output of value will be huge. And instead of having 1 central place of Power we can have thousands of places that has power and then trickle down that wealth to as many as possible.
It took a while for me to get the point where I look at Steem before I look at Youtube, but I made it.
steemitwill be huge in next years