Also there is actually no 100M in circulation. 98% of it is frozen in SP, there is only 2M in circulation!!
RE: What is the true value of 1 STEEM?
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What is the true value of 1 STEEM?
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STEEM Power should be included in the calculation, even if its value is probably much less per unit than for STEEM. Even though it's not technically liquid, someone could sell an account with STEEM power for BTC outside the blockchain. I'd be interested in how much someone would sell such an account for given that there's really no other way to un-vest quickly.
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Ok this is good point, however the steem power is not steem actually, it is a distinct asset. Many wants to buy steem not for steem power but to speculate on price and dump. If you have separate trade on SP then we could argue STEEM and SP becomes unrelated which I guess would mean STEEM goes down.
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