Too many people confuse Steemit with STEEM. This is a major error which drastically undervalues the potential of this blockchain.
STEEM is the token on the steem blockchain. Steemit.com is an application (the first one) that is really nothing more than an interface to the blockchain. Everything that you post on Steemit.com is on the blockchain. However, Steemit is not the only way to read this data. Busy.org and chainbb are other interfaces which can be used to post in a similar fashion. While each is different in its design, they all access the same information.
This is one of the primary advantages to the blockchain. The ecosystem is the blockchain and what is built upon the top of it. Unlike the traditional model where applications like Google, Facebook, and Amazon are separate from each other, on this network, all are intertwined. It is the blockchain which you are accessing with your account regardless of the interface. That is why the same log in keys work regardless of the app.
The US Stock market is in earnings season so there is banter about the numbers certain companies are going to report. One interesting tidbit that I came across is a new rule that is going to force Facebook and Google to announce what impact, financially, Instagram and YouTube have on the corporate entities. For most companies, this is going to take place this year and many expect FB and Google to follow suit.
Nevertheless, many analysts have taken some shots at what the worth of these entities are.
YouTube is the behemoth on the block. We know this is a gold mine for Google even though we are uncertain of the exact numbers. Nevertheless, the estimates are very impressive.
MKM Partners analyst Rob Sanderson wrote in a note to clients that YouTube revenues are going to reach $26 billion a year by 2019, and said the business should be valued at $150 billion by the time Alphabet reaches a $1 trillion value by market cap, as he has predicted.
$26B in revenues by 2019 (which is next year)? $150B valuation?
That is mind blowing. These are also numbers I am not going to argue with. While I cannot say if they are true or not, the fact remains that we know how important this medium is for Google. One does not have to spend much time on there before realizing that you can go two, maybe three, videos before getting hit up with an ad. Considering all the hours people spend on there, I am sure the advertising is enormous.
As for Instagram, that is a little more challenging to decipher since it is an ad-sales arm for Facebook. As one of the most popular apps of all time, this helps feed advertisers into the Facebook ecosystem. And since mobile is only getting bigger, this means Facebook is aligning itself to where the market is going.
Overall, analysts model $40.22 billion in 2017 revenue for Facebook, of which about $34.44 billion is from mobile ads, according to FactSet. Of that revenue, eMarketer, a market research company, expects Instagram to generate $4.1 billion in 2017 ad sales. In 2018, eMarketer expects that number to grow 93.5% to $7.94 billion.
But Morgan Stanley is much more bullish on Instagram’s 2018 upside, estimating the unit will generate $16 billion of revenue, after a $10 billion haul in 2017.
For full story detailing these projections:
Not as impressive as YouTube but still a pretty big deal. For argument sake, and since I like round numbers, let us use Morgan Stanley's projections. The analyst of YouTube used a multiple of 6 to get valuation from revenues. If we do the same for Instagram, we see this entity is worth almost $100B.
Thus, these two applications combined are worth a projected $250B.
In comparison, the steem blockchain is wroth $1.5B.
When talking about this blockchain, the money factor is thrown out with great regularity. This only makes sense since this network was designed to reward content creators. Obviously, with some of the issues these two companies are creating with censorship and changing the reward pool, this could be attractive to those creating content.
However, is money really what will stimulate users?
Perhaps it could. Yet there is something else that I think is overlooked and that I have not seen mentioned. When you use an app on the steem blockchain, not only do you have the ability to earn some STEEM but you also have NO ADVERTISEMENTS.
How often do you go to watch a YouTube video only to have to sit through a 10 or 15 second commercial? $26B in projected revenue for Google from the YouTube brand; that is a lot of advertisements.
Here is a little secret: D.Tube has no ads. People can watch the content put up there without interruption. As the application keeps improving with each new update, I believe this will be a real force in the video content world.
Advertising or No Advertising? Which do you think people will prefer?
As for the Instagram situation, we are seeing a new app going through ICO by the end of the quarter. Appics announced today that it will host its ICO on March 28th. This is an app, if I am understanding it correctly, that could potentially give Instagram a run for its money. Actually, since Instagram is nothing more than an advertising lead-in for Facebook, I guess it is more accurate to say Appics could take a lot of money from Instagram (Facebook).
Like D.Tube, Appics offers the same incentives to content creators. The major difference is that most anyone with a smartphone becomes a content creator for an app like this. In 2016, there were over 1.5 trillion photos taken, the vast percentage on smartphones. This means the average user takes pictures and shares them with others. Appics looks to target this market.
Therefore, not only does it have the ability to incentivize people, there is NO ADVERTISING.
Again, advertising or no advertising? Which do you think people prefer?
And for those who want to know what will stop either Appics or D.Tube from adding advertisements down the road, why would they? This will only needlessly tarnish their product.
The founders of each of these platforms is looking at the tokens for the value. That is how the revenue streams are created. There is no need to move to the old advertising model. The content/reward system that is inherent in the steem blockchain has a means of offering the applications a revenue stream. At the same time, the people involved in these projects own tokens, which means they profit from the appreciation just like other token holders.
When dealing with this system, advertising revenue is not needed. The system itself creates the revenue for all involved.
So how big can STEEM become?
Just using these two applications, if it can take even 5% from YouTube and Instagram, you are looking at a value of $12.5B. Considering we are less than 1/8 that value now, it puts the price of STEEM at $51.
The question is will millions of people want to send out photos and watch videos without ANY ADVERTISING?
Oh and get paid for doing it too.....let us not totally skip over that part.
Who says "yes"????
If you found that article informative, please give it an upvote and resteem.
To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:
Pictures by Google Images
ADs are no concern to me ADBlock is on and I newer see ads on YouTube or FB.
What is really relevant for me is - no content censorship. And I own my content. And no one can ban or silence me. THAT is huge.
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I hope Im wrong, but sometimes it seems Steem Inc is too quick to sell the Steemit site short. FB has a market cap of over half a trillion bucks!! We need a rock solid mobile app like yesterday. We need to fix the bandwidth and on boarding issues. You dont wait a week to join YT or Insta
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This really shows the huge upside in STEEM. If conservative estimates of dtube and Appics brings STEEM to $50+, just imagine what the aggressive targets look at. Granted, these 2 apps should encapsulate the majority of the value, there could be many more uses for the STEEM blockchain that we haven't even thought of yet.
The potential is definitely there. The question is how quickly it will take the masses to start adopting. No ads while getting rewarded for social media?! Sounds like a no brainer to me!
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I know YouTube's revenue is high, but I do not think they are profitable... somebody correct me if I am wrong please?
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You are correct. With Ads, YouTube is not profitable, and is running at a lose, but Google gets its money from user information
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Ah, good point, and now that most view stuff through their telephones, it's guaranteed user information from them, since you pretty much sign your life away to them when you agree to use the application.
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Google never says, but estimates are that, yeah, youtube is highly profitable.
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I did not know that, I always though it wasn't.
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I don't support with your answer because steemit is being a place for rich people only. Just buy some SBD and use those bots to get you upvote.
Many steemians are doing this and I don't think an ecosystem will run like this. People posting quality content are having pain in their ass because all people who use bots earn and those who don't won't.
I think eventually people will be upset to such and extent that they will leave.You have a well established account and you don't know what's happening. But people not having much money aren't earning and if it continues this ecosystem will fail.
I don't mean to say steemit will fail but I think steemit must try to stop those bots or make their official bot which is the only legal bot and it won't upvote to make people profit but only to get visibility. And clean all those people using random bot !
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Nope, buying votes from bots only most of the time will only gain you the extra visibility of your posts. If you think that one can earn much from a bot then you are dead wrong. Those bots are there for a reason but definitely not for charity.
And the reasons that you stated to ban the bot is like asking people to stop doing SEO for their websites for a better rank in search engine. Simply impossible. The world is a free space, as well as Steem. Learn the rules and survive or quit the game.
Cheers!
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My point is that many people are just posting crap and using bots and they are really earning. I don't think this is healthy for any ecosystem. This is making rich people to get votes for nothing. I won't quit this game my friend and rules may sometimes bad and an effort to correct it is not bad !
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I think you are engaging in hyperbolizing. While there are a few posts on the trending page that are "crap", most are what I would call quality content. So you are exaggerating in your debate from the start.
Also, you want to limit things....where is the line in the sand. I use an autovoter for a few people so I dont miss their posts. Should that be allowed?
And what about the ones who design the bots? Should they be forbidden from engaging in free enterprise.
The problem many people have is they cry about censorship and wanting freedom, until they get it....then they cannot handle it.
If you want rules and restrictions, other sites excel at that.
And I have posted repeatedly how the rich are getting richer on STEEM is a fallacy...so stop trying to spear untruths.
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They are not in trending and you don't know them because you are big here. You will find many beginners suffering from this. Personally if I use bot I will gain more because I have SBD constantly flowing not much but I can multiply by bots. I may be unclear about it but I think bots are decreasing Healthy competition !
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I like how you prefer to talk on my behalf and tell me what I know and do not know.
Just to let you know, I spend more time on there than probably 5 people put together scouring around this site seeing what is going on.
I am well aware of what is taking place.
As for beginners, here is the fact: they earned nothing hence deserve nothing. The system is in place to reward those who are contributing to the blockchain.
Someone who comes on here, writes a post, and expects to get a huge amount of money, for what? Because he or she wrote a post. That isnt how it works.
If someone wants to excel, he or she should spend the months posting, commenting, and upvoting. That is what the others did.
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I agree that the fact that content is not filtered at all by many of the bots does lead to an increase in junk getting voted on. Junk in general gets voted on and it distorts the economy and visible content on the website, both of which are bad for the long-term.
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What do you think is their any way to filter quality post by bots?
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I partly agree with you. It's true some times some posts that are not worth it are getting a lot of upvotes through bots, but the legit ones does overcome that as time passes. It just takes a little time.
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How do you think it will happen @ajmaln ?
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The system is already making that happen.
Look at the numbers....
The Top 1% is losing power (as a percentage of the whole) each quarter. They were down 7% in the last 90 days alone.
Their piece of the pie is decreasing although it is an increasing pie.
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I dont use the pay bots but I do not bemoan those that do. Many have found success in doing that, especially newer people. Is it worth the money is my only question but I guess people need to work that out for themselves.
Overall, I dont like the practice yet I do not feel we should hinder those who do.
And one challenge you have is that everyone can use these bots...there is no exclusivity to them. Thus, when you attack the "rich" for doing it, the "poor" could do the same thing. In fact, many minnows do.
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I don't think you know about many communities who just post crap and use bots to gain profit.
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The lack of advertising is huge for me. I developed the habit of avoiding products that I recognize from advertisements - because if all that money had to go into promotion, it certainly didn't go into creating a more valuable product for me.
In many ways, Steemit is a return to the gift economy of more traditional societies, and I think this appeals to people in a big way too. Especially as jobs disappear and meaningless labor becomes a thing of the past, people are eager to find ways to give and contribute. Steem allows them to do this both through their time and creativity and their investment.
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After a few months of my stay at Steem. I'm very much out of touch with advertising, I used to miss her. And now, when I look with the cartoon son, she irritates me very much. Thanks for doing Steem - the Best. Good luck to you and Good.
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Thanks for this @taskmaster4450. I actually just did a post about Metcalfe's law and the rate of growth of Steemit, funny how we both did something around the growth of Steemit at the same time.
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Its funny, I forget about the other features like no ads. I think I spend enough time browsing here that I've started taking some things for granted. The other day I was getting someone excited about censorship resistent social media on a blockchain. He was excited, but then he became concerned about its affordabilit, he didn't want to be spending dollars a day of the crypto. lol. Anticensorship isn't something you pay for. No ads isn't something you pay for. Normally you get paid for those kind of things, what bizarro world are these people living in?
We do need to find a way to break the steem-steemit being used to mean the same thing. Maybe I need to go on a shill campaign for busy or something, not even let a group of people know about steemit until they are on the platform.
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Steemit is growing day by day and developers are working on new apps and integrations that will make it more popular and easy to use.
Even without advertisement the platform is growing. There are enough video on youtube talking about this community and many articles on google.
The future can be only better!
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Get rid of the bots that upvote the same posts. People do not under any circumstance want to come to a platform that they feel is rigged to only support those who pay to play. There are many great people on this website and with so much interesting information to share. Start giving them a voice on the platform and watch it prosper.
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The numbers look amazing. You are so right about if people would like to watch or look at content with no adds and get paid to do it. It is a no brainer. We all just need to get the word ou!
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It's a no-brainer really. Of course people will gravitate to the platforms without advertising. And there's no way YT and FB can compete with that because their revenue models are dependent on advertising. The apps built on the Steem blockchain are just getting started and the future looks VERY bright.
The other thing to consider is the open-source nature of the blockchain. Who knows what killer app might be just around the corner with anyone able to develop freely?
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I agree with you. Steemit will only grow over time and DTube will be one of the features that will help in a big way.
I haven't studied all this out for myself as you have. But, I want you to know that I appreciate all the work you have done. It gives us a lot of encouragement going forward.
Thank you
Francis
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@taskmaster4450, you know what I like so much here in STEEM? Less copy, since we can change from busy to steemit to dtube to utopian and everything is the same, just the layout is changed.
That is huge since we can create more information without copy everything... that decrease the use of space and create more value for everybody.
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You really had my attention at "No ads". Wow! How did I not lock on to that one already. I'm one of those guys that mutes all of the commercials on TV. Can't stand them. almost all of them. And I especially hate pop up videos on all platforms. And, last but not least, I hate adsense. I hate that I have to place them on my blogs to try and make money. I have no control of them, and my income stream has continued to decrease over time. No ads! Oh what I concept. Go Steemit Go...
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You post the same info on Steemit with a similar following as your blog, I will guarantee you a lot more money than you made in the Google ecosystem.
I found this place to be a gold mine compared to blogger or wordpress.
People who are dedicated, even if they are making small amounts, are going profiting more than they did on those other sites.
Plus it is a more pleasant user experience.
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Excellent! I'm typing as fast as I can. Best...
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$51 would be SWEET!!!!! I would think the most important figure is how much steem is being bought and sold in the future. I wonder how much higher the payouts would be if steemit had advertising and the revenue went to the content creators.
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You only took 5% and we got to $51? that's nuts, that's a conservative number, especially when considering you only used two examples, there's still steemit itself and many others in the works or being created....
What do you think is stopping people from jumping over right now, is it that they don't know about it, maybe it's all a bit too confusing, maybe they're too busy and change takes work? I know I kind of stumbled across steem, never heard of it until I saw a youtube video...
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I think there are all those factors.
To start, the sign up process is slow since it is still manual.
Secondly, I think people resist change. I have told a number of people about it who were like "eh, looks interesting". People either do not care or do not want to change.
Then there is the it is a scam crowd.
And yes there is a lack of recognition and people simply do not know about it.
As for the number, yes it is ridiculous to think how high this can go. We are on one of the best blockchains out there, handling upto 2M transactions without even breathing hard. There is an active community that is actually creating stuff that results in transactions. And we have many developments in the works which will only add to this entire ecosystem.
I predict we will be blown away in 24 months with what this place turns into. There will be so much on this blockchain it will make our heads spin.
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Steem blows the competition out of the water
Keep the good stuff coming!
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i'm fairly new to steemit and found your post interesting and educational. If there is one thing i'd add, it is that facebook, twitter etc social media will experience a huge backlash because of the blatant censorship they're already involved in Germany with the new law against 'hate' speech. The lady who runs facebook (Sheryl Sandberg) is already on record that FB will have 20,000 people deleting posts by the end of 2018. This will not stand in my view. Apart from pedophilia, all censorship is political and destroys freedom. FB is going down the wrong track and will pay for it in the market place.
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Am not sure anyone is going to say no to Steemit and dtube kind of application in the future. Ads can be annoying especially when you are in a rush to get what you want. And to even make it better, you are paid to use their services, who would say no to that. Steem on sir
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Someday, i will wake up seeing people using steemit as their main social media where they post the things they want to share to other people. Well, as expected! You nailed it again sir! You really are talented in constructing such an informative blog :) keep steeming sir! Keep sharing infos! Keep inspiring others! :)
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Application on top of Steem blockchain is awesome and they for sure will bring more traffic here. At the same time they should improve rapidly too, applications like dtube is constantly unusable for the lagging and stuff. Keep improving is the key.
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My son has been trying to build a following on YouTube to earn money, and recently YouTube has fought back against small creators by making it harder for them to earn any money. I've been telling him about Steemit, but wasn't aware of D.Tube until now. Thanks for the information!
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You are welcome @dmdecker.
Send him over to D.Tube...he could find he profits a lot more there with a following that is much smaller than on YouTube. The people on here arent going to fight him like YouTube but help him all they can.
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I hate advertising, people hate advertising, we skip through it in our recorded TV, we click the "X" when it appears in our "Words with Friends" and we drive down the road, sneaking peaks at our phone, instead of reading billboards.
The biggest advertising release show is next Sunday's Super Bowl and the football players have ruined that for me. I didn't watch a single NFL game this season and I'm not watching the Super Bowl either.
Maybe when the NFL gets a Commissioner with a set of balls, I'll watch football again, in the meantime I'll keep watching college games.
I'm excited about the new ad free apps, hopefully they will be easy to use and learn. Great post Task. Sorry I had to bring in the NFL on my comments. 🇺🇸
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I think that steem blockchain will be bigger than you think because of the innovative people at steemit creating daily working products that are used in the blockchain..better days to come buddy
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I'd never actually thought about the ad-free nature of Steem but that's a really interesting point. With all of the huge plusses it seems like only a matter of time before people start to shift, it's just so hard to tell if/when we're going to get that momentum. Personally my only reservation with just saying this is a sure fire home run is the knowledge that Google/Facebook HAVE to be looking into their own versions of a reward based blockchain. I would find it difficult to imagine they don't have people on this and with their already huge user base they could potentially decimate Steem if they do have somthing up their sleeves
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Appics will need lots of Steem Power for bandwidth. SMT’s might prove to be a significant driver of demand for Steem tokens, putting upward pressure on the price of Steem.
SP hodlers stand to do quite well in such an environment.
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I agree @preparedwombat and I think that is something that many people overlook.
While the steem blockchain has no transaction fees, there is still a cost to operating on this network. The difference is the site is responsible for the "fees" instead of the individual users.
I also think the fact that they are going to pair each currency to STEEM means the internal exchange will be that much more valuable. After the hack last week, a decentralized internal exchange can only be viewed as a positive.
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I think when D.tube fattens up with content (long term) and Appics gonna be released (short term), that steem gonna sky rocket.
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I hope you are right @gregan.
There certainly is the possibility of that. STEEM is undervalued in my opinion....but then again, why not have a price that isnt based upon crazy speculation. STEEM will rise as more activity takes place on this blockchain. There is a lot coming down the road which means it will not be a secret forever.
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I believe that steemit is in a state of continuous growth and many people still do not even know about it. It gives confidence that in the near future everything can change. Simple social networks keep a monopoly and earn huge money on advertising. At the same time, they do not pay absolutely nothing to their users.
On steemit everything is completely different. There is no annoying advertising and obscene content. Here they do not like SPAM and they do not like "stupid" content here. Being here you start to change for the better.
But the most important advantage is that your voice is here and your opinion has a price. Here you can earn money, and here you become smarter and better every day. Once people realize this - steemit expects a lot of growth.
Although I see that every day there are more and more users who want me their lives. And this pleases me.
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very informative post with nice content. i think this post helps every steem users. thanks for share such a nice post with us.
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@taskmaster4450 Too many people confuse Steemit with STEEM. This is a major error which drastically undervalues the potential of this blockchain.
I strongly support the sharing of a very bright coin with steem future
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Good post more information
Thanks for this information
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good one.
thats pretty cool to know.
thanks for sharing
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Surely it is a win win situation for Steem. No ads, getting paid and no censorship.
It's just going to take some time for the word to spread but it's definitely just going to be a matter of time before more people start to use the blockchain.
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It's very informative posts and nice review of Steem blockchain. Definitely beautiful post, especially for newcomers.
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Google itself is very profitable as they run adsense, but Youtube has always, always struggled and is not a very profitable entity. Google just keeps it because they get to keep all that data on users within their ecosystem of products, and to maintain marketshare of users.
In theory something like steemit's model could lead to no ads, but everyone is always advertising themselves or something else because of the profit-oriented model.
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Your page is hell of a amazing blog.
I just started following you
Keep posting for us!
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I agree with you. But @pathi also makes a valid point. There should be some ways to regulate the upvotes from the bots. I don't know whether it's possible or not. Atleast just by making the votes not just mainly based on money, to avoid posts not worth it getting such visibility.
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steemit is the great way
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That's pretty cool to know thanks for the tips by the way :)
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Oh yes.
I have a post similar to yours on my blog too
You can view and upvote too
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I am really glad I found Steemit, just wish I had done so years ago! It is a great platform and I think the future will be awesome.
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Useful and informative post thank you dear friend @taskmaster
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As I was reading, I couldnt help but think for bitcoin and gold market. Analysts also used 5% valuation. So far so good for bitcoin.
I also have noticed that a lot of influencers speak of Steemit like platforms, without realizing there is one. Please see this article I wrote on the matter, I find it really interesting. You can see the post HERE
Good post :)
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It will take a while for all the projects on the steem blockchain to really get going, but once they do, oh boy...we'll be popping champagne like crazy :D
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very important post.thanks for share.
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YouTube does make a lot of money, but isn't actually profitable. This is one of the reasons that a competitor can't pop up. Google gets its money from selling information like user behavior. I think Steem could rival Google, but I think it has at least ten years to go.
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really beautifull idea @taskmastar nice presented and explained.
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Before I left to Costa Rica I have never watched any ads on YouTube in Germany. They simply didn't exist. No clue if that is still the case today.
In Costa Rica there are no ads on YouTube either. Hence, I have basically never watched ads on YouTube. And I would consider myself an over-average consumer.
Being on a trip in the US it was a terrible experience to watch YouTube. Horrendous!
I am not so sure if Steem will stay add-free. Why should it? Build an exceptional Steem-based platform, bring in advertisers and give back the major cut to the content creators and you have a fantastic new revenue model.
Either way, the prospect for Steem is extraordinary and your estimation - on purpose - conservative. ;)
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Most people employ adblockers because they had all the ads on YouTube and elsewhere. This model is fading with or without Steem imho.
I have no doubt that Steem can take market cap from these behemoths. I also see more apps coming when companies begin to see that the old model is losing attention.
It is all just a matter of time really.
Thanks for the post.
Keep Steeming!
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This is soo cool!!!
APPICS will be like Instagram?
Thank you so much for sharing this! I will check it out as soon!!
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Advertising is what really bothers me about social networks and not only. So I of course choose Steemit. When I got here, I was very surprised, that there is no advertising. I think , that the others will make the same choice.
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nice post....u post is informative...i like it
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@taskmaster4450 have you heard of the platform @steepshot? It's an Instagram version of STEEM Blockchain.. It has been plaguing me for ages: What's the difference between Steepshot and APPICS? Will these two platforms compete against each other? What's next after APPICS' ICO?
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Come'on Now.....You All Know Steem's Gonna Be Way Bigger Than Norbits's Ass
Mistake: Not Hoggin Steem When It Was Only $1.5 Billion in Market Cap
source: canmag
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Thanks for tge information i was really confused about that before now but i am now able to understand how ig works
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Yep, there’s a reason why you’re bullish on steem, taskmasker! And because of you, and the information you write about, so am I!
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I think we are going to get to a point where are growing exponentially, especially as YouTube starts pushing out the little guy as it pertains to monetization. No ads and paid for content and durations... win win win.
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