Ever since I invested 0.25 Bitcoin into Steem a week ago I have been watching it closely, as I would any of my other crypto investments.
And I have been very encouraged by that which I have seen. There is no question that it is a sound investment and this is reflected not only in its evident upward movement but also in its concept.
This is a shot of my Coinigy chart from a few moments ago, looking at the last three days. We are currently at $0.35 up 26% over the last 24h (up 44% over the week).
So if your account was worth $1000 yesterday, it is now worth $1260.
Why am I so sure about the future of Steem?
I have noticed with cryptocurrencies they often build in a very clever referral system to incentivise the use of their coin.
But the interesting thing with Steem is that they have not approached it this way.
They have designed a social media platform which incentivises the use of upvotes. We may not be aware of it but we are trading Steem with our upvotes. And as the movement of Steem increases so too does its value.
To take it a step further one could say that Steemit is just the tip of the iceberg because anyone can use the Steem blockchain to develop their own concept, utilising the simple, fast & cheap transaction system of this currency.
Future possibilities for Steem
SteemTube - Frankly I am surprised it hasn't happened already. A decentralised video hosting site which uses the same Steem upvote reward system.
Steem Twitter - A simpler version of Steemit. Limited to short posts only. Rewarded through upvotes.
Steem Shopping - With its simple, fast and cheap transactions it is perfect for shopping with! @steemshop have opened this door here on steemit, but ultimately anyone can take it in any direction they choose.
As you can see it is a very clever system which organically creates new marketplaces designed around the trading of Steem.
Not dissimilar to Tesla (the battery company) creating a marketplace by building or acquiring companies which need their batteries. Thanks to @andrarchy for pointing this out in your great film on steem.global, the most generous faucet out there.
So, to say that I am bullish would be falling short of describing my excitement in this moment.
Steem on my friends because this coin is going to rocket and I plan on acquiring as much of it as possible in anticipation of that moment.
Remembering always to enjoy the ride...
...for it is not about the destination but the journey :)
