Your analyzes is good, but the one flaw is that it assumes the platform is complete and will not change going forward. The developers have said that there are new features to be added later. Steem is planning on becoming a self contained economy. This also assumes the only demand is will be for posting content. There are plans to add a marketplace a la Open Bazaar or Craiglist. This gives more reason for the currency SD to be circulated. The demand for these goods and services will increase and eventually raise the value of Steem.
RE: Steem-the-investment vs. Steem-the-platform: Is either worth the current market capitalisation of STEEM?
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Steem-the-investment vs. Steem-the-platform: Is either worth the current market capitalisation of STEEM?
True that other features could add value, but these "features" are competing with the likes of Apple Pay, Messenger Pay, PayPal, etc. There are so many payment systems and cryptocurrencies out there...hard to say this value will see itself to fruition.
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All those payment systems have geographic restrictions. SD will be global, no restrictions.
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Other cryptos like BTC serve that purpose well, already.
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How well have those other done at bringing new people to the eco system? Anything that requires people to first pay into with their money is already fighting an uphill battle. Plus these other coins all have fees for transferring which is an added cost.
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