I believe that Steem is significantly undervalued relative to many other cryptocurrencies for quite a few reasons. This is by no means an exhaustive list, but rather, just a few of the reasons why I think investors and speculators are underestimating its potential.
Technology
Steem has industry-leading technology built into its blockchain.
First and Foremost, Steem offers free transfers. If a currency is going to be used far and wide, it needs to be cheaper and easier to use than existing currencies.
At 3-second block times, Steem is much faster than Bitcoin's 10-minute block times.
Steem has savings accounts built into the blockchain allowing for secure storage of the currency.
Steem has account names rather than long strings of random numbers and letters which makes transfers much more simple.
Steem has account recovery which is unheard of in the crypto world. Even if someone gets ahold of your private keys, you can probably recover your account.
Thanks to its delegated proof of stake, Steem doesn't waste an enormous amount of electricity like Bitcoin does.
Blockchain Usage
Steem processes more than 6 times the number of transactions that Bitcoin processes and many more than any other cryptocurrency. Steem is able to do so using a tiny amount of its capacity, whereas Bitcoin has struggled with its capacity over much of its lifetime.
SMTs
With the upcoming SMTs (Smart Media Tokens), I think we'll see thousands of more entrepreneurs coming to Steem to build their projects. SMTs will create a "turn-key" business opportunity for people looking to tokenize anything.
Any influencer, community, business, city, or government will be able to easily create an SMT to make their operations far more efficient, give their community members a vote, and reward participation in a community.
I think SMTs will go a long way tokenizing the internet and Steem will be a major benefactor in this revolution.
Community
It's hard to find a community like the one behind Steem. It's not only massive and growing every day, there's also a tremendous amount of passion. The Bitcoin community is extremely divided and it has failed miserably at making changes.
Steem, on the other hand, is extremely nimble. The Steemit team, in combination with the witnesses and community members, have been able to make necessary changes quickly when needed.
The set up of steemit has given it the assurance of getting to the top in a little time from now.
Taking over the number one spot from bitcoin or other coin is a matter of when and not if. People keep believing in steemit and it's coin everyday, and that's a good news, it's a pointer to a promising future.
Like I told a friend yesterday, the more the people, the better for us all, thanks to everyone working tirelessly for the sustainability of this community.
I believe in steemit, do you believe in it?
You are not to be Mr anonymous now, your post is full of wisdom encapsulated by facts, you need to make your name visible, so that we show you some love.... Smile
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Unlike Bitcoin, the Steem community brings people together from different towns, cities and nations of the world. Steem therefore deserves some accolades.
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Hahahaha Hahaha yes yes yes let's give Steem some accolades. Steem deserves lot of accolades.
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Lolzzzz... Yes oooo
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Steem is one of the fastest blockchains with a block time of 3 seconds. Bitcoin was designed to confirm transactions in 10 minutes but sometimes it takes few days.
The speed at which transactions are confirmed on steem blockchain is super cool.
Transaction fee with bitcoin these days is one hell of a case. I initiated a transaction earlier today and i was charged almost $10 for the transaction.
Transacting on steem blockchain at zero cost is awesome.
It's quite unfortunate that steem is undervalued but i sure know with time things will get better with steem.
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Well said. SMTs are going to be big once they officially release. There is already several SMTs like Appics. Dtube and Dlive are really starting to take off now! Plus, the EOS rise will only propel Steem and Bitshares higher.
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@communitycoin recently @jerrybanfield has given 25 reason for Steem to be number 1 crypto currency by 2021. Now with your input and the amount of interest people started taking on it, no one gonna stop steem progress. With FB privacy already in question, more and more people will look out for alternative social media, and with one have reward to the post is going to be number one contender.....Steem..On!!
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Yes. You nailed it. People are already looking for an alternative social media and it will get better and better for Steem as the years go by. Lot of people have ditched FB and many more will soon do.
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Steem is really amazing and much differ from others. The site steemit.com really help the minnows and still supports one can invest time by posting good and quality post and power up or buy steem with rewards got from steemit blockchain
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Steem is the real deal. It has so much on the offer. The community of Steem is so large and embedded with more humanity than any other. People are not just making money via it but they are making impacts.
Steem is really undervalued and the potential is really huge. So huge. This is the next big thing and I say that with every sense of truth and excitement.
I love this analysis. So detailed and easy to understand even by an outsider. Well done.
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This is brilliant saying about steem, you must have made a lot of research work before arriving at this point, it is so educative, thanks to you through this piece i was able to learn more on steem related issue than ever before
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Good post. I'm bullish on steem and steemit, but we do have a lot of issues to fix. And bitcoin isn't going anywhere anytime soon...
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I think it's just a matter of time though. Steem is massivelying undervalued but I believe the markets will correct itself eventually
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I see steam reaching a 40 billion dollar market cap which is 10% of Facebooks current market cap.
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I didn't realize steemit was so fast and efficient for transactions. I'd be interested to learn more about "proof of stake". Thanks for the post!
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Got that point. Really agree with you. Hope steem always growing
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