[This blog is SOLELY targeting SBD (NOT STEEM...YET!)]
Before I get going on this blog, I want to say that when I say I believe that SBD WILL go to $1,000 or higher (as you will read in this blog I think it can even go SO MUCH higher than that!) I'm not writing this article to stroke egos, to transmit fluff into the crypto space, to do anyting maligned or subversive. This is my honest belief and throughout this blog you will see why my belief structure is what it is and how I arrive to my conclusions. With that said I hope you enjoy this blog!
So, just how much should your SBD evaluated at? How much is the TRUE VALUE of a single SBD in a thriving market? Well, that's an absolutely impossible question to answer definitively, but using a couple of different valuation variables & drawing on my own experiences I think I can give us a ballpark estimate! Let's look at a few pieces of data first, just to educate you a little bit better about SBD if you don't already know:
CURRENT Market Cap:
$39,335,702 USD / 4608 BTC
24 Hour Trade Volume:
$20,166,000 USD / 2363 BTC
Steemit's Release Date (Important):
Some other pertinent information:
The epic platform we all know and love, steemit was created by the legendary Dan Larimer - the creator of Bitshares & EOS. Also, probably his biggest and most ambitious objective yet, he is the CTO of Block.one, looking to raise 1 billion dollars in their ICO, only being surpassed buy Telegram with their Mega-Ambitious goal of 1.2 billion dollars for their ICO! No, I'm not just telling you about Dan Larimer because I'm trying to fill space in my blog, all these factors are of great importance when considering the value of a crypto.
I guess it should be stated that I'm only as much of an expert as one can be an expert in this field, crypto is so young it's hard to say what will happen to anything definitively - in fact I was dead wrong about Ripple years ago when it was first released but I didn't take into account its scalability... so, when I could have been purchasing thousands of Ripple for a penny, instead I was laughing at the currency and I expected it to flounder and fizzle out when in all reality it surprised just about everyone in the crypto community. So yes, everyone can be wrong, I can even be wrong about this blog - but I think it would be wise to take what I'm saying into consideration if you truly value your SBD and you love steemit as much as I do!
So let me give you some back story about my experience in crypto, the blog you are reading right now was written by me and is a tale of my experiences, this is not someone else's story, this is not fabricated to achieve the ends of an interesting blog, this is my story.
I got involved in Bitcoin back in 2012, though I had heard about Bitcoin as early as 2010. I'll be honest, the original reason I purchased my first few Bitcoin was because I was buying something from the website "The Silk Road." If you don't know about that website, it transacted in only Bitcoin exclusively - because of the type of items you could purchase on the website, anonymity was an absolute necessity! It should also be stated that I was a very Avid supporter of Ron Paul, and my political beliefs stem strongly from books I have read by legendary politicians such as Barry Goldwater and economist's Friedrich Hayek. Yes, I was that kind of Ron Paul supporter LOL!
Being a firm believer in sound money and a strong opposer of Fiat, it was only natural that I supported Ron Paul, and being a part of the Grassroots movement that surrounded Ron Paul, on a daily basis the type of literature and news being circulated in the community was that of economics largely. That's about the time I was transformed into a gold bug, well really a collector and purveyor of all precious metals for that matter. It wasn't until about the middle of 2011 that Bitcoin came back up again as a great storage of wealth, it had even been donned the the title of digital gold.
Let's speed things up a bit to late 2012. At this point I had a few hundred Bitcoin, not as a storage of wealth, not because I was trading it, but because I was purchasing things with it. I was becoming coming very acquainted with how transactions worked with crypto and at this point I was pretty knowledgeable. By this time, Litecoin, Terra coin, a few others that I distinctly remember Trading on btc-e.com had come on the scene as the first few Alt cryptos. I remember buying my first handful of Litecoin at sub $0.03 and I was ecstatic to own them! In the beginning of 2013 I was regularly Trading all kinds of coins on the exchanges, and I was well on my way to earning my first small fortune in crypto.
Just about every single crypto I was trading back in the beginning of 2013 has blown up into a huge ecosystem inside of each coin, I'm not going to say every single one but just about all of them have become multibillion-dollar market caps. The dawn of Etherium was upon us shortly after the first mega-spike for Bitcoin in 2013. I had just watched a meager investment become a small fortune almost overnight and there were Whispers of a new coin coming on the scene that was going to revolutionize a lot of the problems that existed on the block chains back in those days. Its name was Ethereum, and just about everybody knew that it was going to be huge.
(Above) Bitcoin Chart from 2013/2017 Respectively
I could literally write a book about my experiences in crypto but I don't think this blog is the place for that. I set out to evaluate the value of SBD I just wanted to give you guys a little backstory on who I am and what I have done in crypto and why you should even give credence to what I'm saying, I just got a little carried away with introducing myself and I want to get back on task now!
So, let's look at a few things, we have a very small circulating supply of SBD, sub 9 million, we have a laughably low market cap hovering around 40 million US dollars, we have one of the most epic crypto innovators who has authored this platform, and this currency is basically a baby by comparison to other cryptos... is it possible that we could see a 10 billion dollar market cap for SBD? Is it possible that each of the SBD we are currently holding onto could easily be worth 150X what they are currently worth? Absolutely! For that matter, a 10 billion dollar market cap is laughably low when you look at other successful cryptos or even fledgling ones like TRX that saw a 17 billion dollar market cap just last month...
First let me give you the numbers because that's easier to digest, then I'll give you the why in summary. SBD @ 10 Billion USD Market Cap means $1,125 SBD with the current circulating supply! WAIT, WHAT?! Is that even possible? Absolutely it is, especially with speculators jumping in every time Bitcoin even gets remotely pumped, markets that don't even make sense to invest into become Havens for newly-minted millionaires, and coins that have no intrinsic value without even a fourth of the positive features I've already mentioned about SBD become playgrounds for the speculating whales. In some cases, it would seem that intrinsic value has literally nothing to do with why a coin becomes worth so much.
Why would the market cap of SBD suddenly jump to 10 billion you ask? There are lots of reasons, but just out of my experience, the most common reason a coin receives a sudden influx of liquidity is really because people who invest in small amounts become millionaires, millionaires become millionaires, Market liquidity has pushed crypto's as a whole almost to 1 trillion dollars. Those people who got rich quick playing in the crypto Market start taking a look around once the smoke clears and the adrenaline subsides and they take some of their new liquidity and injected into smaller markets hoping to make gains off of alts volatility. More often than not, for no apparent reason coins that hold no value to the progress of the blockchain becoming mainstream suddenly become super inflated and a coin that was worth a 50 million dollar market cap yesterday suddenly becomes two or three billion dollars overnight.
That is not the case with SBD, at least as far as contributing to the Zeitgeist of the blockchain and offering real intrinsic value for your purchase, and in the case of steemit, for your efforts. I'm not just typing up SBD because I own it because I own a lot of cryptocurrencies and you don't hear me talking about my other positions other than maybe TRX from time to time not. I'm not talking about it because we are on steemit and it's the "in" thing to do, I wrote this blog because I had a Eureka moment last night staring into the abyss of the market charts... I realized that we all might be taking our SBD for granted, and if we see even a 1 billion dollar market cap this year or even five years from now, it doesn't matter, cryptos that offer intrinsic value and a purpose always have their time in the Limelight.
I think about it everyday, I look at steemit and think "what an amazing idea this is!" Since I was a little kid and I realized that marketers pay big money for all of our individual market data to companies like Google. That means that as individuals, we each have a price tag on our heads for how much we are worth to marketers. Furthermore, instead of that money being paid to advertising giants like Google, why can't that money be paid directly to us... And for that matter, why can't we be paid for why our marketing data is worth anything in the first place, our content that we contribute to social media... This platform solves two of the biggest things I considered backwards since I was even a little kid. We are playing with the future guys, this is huge! By the way I think I mentioned it above but maybe I didn't, Bitcoin is in a pull back right now therefore everything is in a pullback, we could possibly see these numbers around November or December of this year at the earliest, with a very very slight possibility of seeing these numbers in May or June but chances are it will be at least one to two years before we even see half that number... but still!
Sorry I am hastily ending this blog, I have to go to work and I wanted to get this out before I left, but the moral of the story here, your SBD could very well be worth $1,000 a piece (EASILY!!). Don't take them for granted, don't waste them, hold on to them for dear life like they are worth what I just told you, you won't regret it, I don't usually make mistakes in my crypto valuations. Although I have made mistakes on some things, I thoroughly believe in what I just told you in this blog. If I didn't give enough information or you guys weren't satisfied with what I just wrote, let me know in the comments and I'll either edit this blog or do a follow-up, but I hope you enjoyed what I wrote and hope you walk away with more information than you started with. Have a great day guys and I'll be checking in after I get off work!
STEEMIT FOREVVVVAHHH AND SBD TO SATURN'S MOONS!!
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STEEMIT FTW!!! Don't forget, if you like my content:
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