Steemit, the flagship Steem application is only in beta. Steem is much much more than a reward system for a decentralised social media platform. With Steem, one can build anything.
Facebook has a market cap valuation of approximately...
$190,000,000,000 (190 billion or 190 thousand millions.)
Steem has a market cap valuation of approximately...
$230,000,000 (230 million) yielding an approximate unit price of $1 per steem...
This is nuts but it's fun so I'm going to keep going.
190,000,000,000 / 230,000,000 = 826
So, if you believe it's possible for Steem to equal Facebook's market cap valuation, then presumably, when it does, there is the possibility that a single Steem will be worth $826.
In fact, given all the things that Steem is and Facebook isn't, couldn't Steem be worth even more?
So when a single Steem is worth $826, just 1000 Steem would be worth $826,000 dollars! 10,000 Steem would be worth $8,260,000. Isn't that a grand thought?!
Yea but that's just stupid, there's no way that could happen during my lifetime. That's what I thought. But, let's inflate the number of Steem to 300,000,000 and assume all Bitcoins are circulating, so 22,000,000...
300,000,000 / 22,000,000 = 13.6
Very approximately accounting for the differences in supply, steem would only need to be 13.6 times more valuable than Bitcoin...which is sooooo easy because as much as we all love Bitcoin, it's really terrible nowadays, limping along like your Aunt's old dog.
So other than making sure we have our expectations aligned and set to the right level, what's the point...I mean if these are not compelling enough thoughts themselves. Well, my fellow Steemians, with that kind of wealth, we could build a starship, make contact with our alien brethren, colonise new worlds (uninhabited worlds) and live forever.
I just wanted to bring these important matters to your attention. Thank you for your time.
Happy Steeming