One Great Steemonian Makes A Great Point About Steem's Value
@nanzo-scoop is one of the nicest people you'll find on Steemit, but he also just made an important point. Something that can't be overlooked in this crazy crypto space.
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Nanzo is a great guy and one of the people who have helped me the most on my Steemit journey. I listen to what he says, because he has accomplished things on Steemit that I want to accomplish.
A couple of months ago, he started doing a video blog where he would talk about life and crypto and stuff. On one of his most recent videos he made a point that we should all really keep in mind right now.
While the crypto market is filled with speculation, Steem is one of the only coins that has utility now. There are thousands of people every day using Steemit and the crypto associated with it. See full video here.
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The reason why this is such a valuable lesson is because, speculation isn't driving the value of Steem. I've had other people say to me that they wish Steem would have the same growth as some of these other coins that are up so much, but it really is because people are not speculating on Steem, and that make the value from the charts much more realistic.
People are not buying Steem because it might do something in the future, people are buying Steem and joining Steemit because it has applications today. What happens when the future doesn't pan out for some of these coins? The value will plummet and the people involved will lose it all.
The people on Steemit will be able to hold their value for much longer because the site is already in use. That doesn't mean that one day another site or technology might take Steemit over, but there is no competition right now and Steemit has a couple years on anyone looking to get into the space.
So on days when you see some of your crypto holdings go down in the red, know that Steemit is your safe place. Steemit and Steem might be the most accurately valued crypto in the space.
What are your thoughts on the Nanzo's video and Steem's value? Let me know in the comments.
If you don't follow @nanzo-scoop, you should. He is a great guy and very smart. One great Steemonian.
Thanks for reading.
Steem should be over $10, easy
That would be awesome. I agree it should be higher.
From a supply perspective, we are at around 90-95% STEEM created of the total that will be created. Combine that with the fact that demand for STEEM is increasing everyday as more people join. Steem price will be rocketing in the relatively near future.
Shit, why stop there..
Wow live photo, amazing robot
lol, thanks. You got a new follower.
Well said.
There is alot of talk about YOYOW (You Own Your Own Words) which is planned to be a similar concept to Steemit. The platform is not yet up and running yet the price fluctuates.
Steem is a proven concept which should help it in the long run.
That sound pretty cool. They've still got a long way to go though to get to where Steemit is, but glad that more place like this are starting to pop up. Thanks for the great reply.
It is really a Chinese version.
Again a lot of work to do before they prove their value.
Yes, totally agree with @nanzo-scoop. I've been doing POC's for work around the blockchain and most solutions seem forced or made because of the 'blockchain', overly complex and no real global usage - I ran into Steemit searching for use cases and figure it was one of the really true and unique use cases that allows for global use of a blockchain, with little or no knowledge of the blockchain needed and benefits for the end user. Low entry costs, utilitarian, extensible, no fee and high throughput (I think we just broke 1M TPS) and man is it ever fun :-).