Crunching the numbers
I always like to look at the numbers as they make sense and normally tell a story. Steem has a total supply of 328,556,838 STEEM Coins. That sounds like a huge amount , but it really isn't when you think of what this place could become. I remember a post I did a few months ago with the figure of 1 in 84 000 and that is how rare a Steemian is in the internet world today. For every million internet users out there worldwide there are 12 Steemians in other words. It will take very little to get that to 100 users per million which would increase the numbers on here by 800 percent.
I am ranked at around 2800 on the Steem I am holding and I have noticed lately the higher you climb the slower your ranking grows. This tells me that the majority of users ahead of me in the rankings are powering up and growing. This is very reassuring when we look at the bigger picture as more and more Steem is being tied up daily.
I noticed from 5000 th to 3000 th place it was fairly easy to climb the rankings ladder and now I am climbing but a lot slower. I would suggest or presume that the majority of accounts I climbed past over the last few months are dormant accounts. Steem being tied up in dormant accounts is a good thing really as some will be lost accounts who have mislaid their passwords or users waiting to come back when Steem rises again.
What I find encouraging is the amount of users powering up and growing. The more Steem tied up in accounts held by serious users is very important as it creates less Steem going to the exchanges. I would suggest over the last few months very few Steem have made their way to add to the 80 Million Steem already on the exchanges.
Steemhunt is now offering a better return than the promotional bots which gives users who are more of a passive investor a chance to earn more on their investment. These days a bank will offer you 5 or 6% return on an investment if you are lucky and there is little chance the value will go up like crypto can.
The chance of one or two apps arriving and going viral are fairly high and to be fair they don't even need to go viral, but just do well. The 60 percent or so of Steem invested already on the platform with more investors to come will force the price of Steem up at some point. There is no way that the price can stay down when there is a demand as it has a proper use unlike most other coins. Steem is different to a majority of crypto as it is needed to do anything on the platform and even a 15 SP account holder is an investor.
Rome wasn't built in a day and Steem is only 3 years old and who knows how far down the road we have to travel to see the value start rocketing. I am not betting the house on it, but I will bet the garage that at some point this place will have huge value.