Feels? It doesn't seem like value comes easily anywhere. Not here, not anywhere, unless value is generated. I think if you measure value by the dollar then you're making a mistake because the dollar is distributed often by politics and not by value generated.
On the other hand, how much value is Steemit creating? $100 million market cap seems very low for what Steemit can do. It really depends on what developers decide to make Steemit and how much people value people. If people don't value people very much, then the social network behind Steemit will not have a high value, and the payouts will shrink.
This indicates the value of Steemit is the social network behind it, and if it feels like the value you receive is coming too easily, then you must think the social network behind Steemit is overrated, over valued, etc, because the wealth comes from the people.
If that is the case, then it has to be reflected in the market cap, but from what I've seen the more people you add to a network, the more wealthy the network becomes, and the more value it generates, and in Steem this should translate to higher payouts over time. How high?
Facebook has a market cap of 200 billion or so? All content on Facebook is generated by the users. The users don't see any of the money but the value exists or the market cap could not be 200 billion. Facebook has billions of users to reach a market cap of 200 billion, and values each user at around $100 annually.
Should we believe that each person is really only valued at $100 annually? If this is the case then the cost of living, all the products, in western countries, is dramatically over priced. Global averages might allow for the $100 annually to make sense but we have to remember the cost of living in Africa might be $1 a day, while in the United States it might be $100 or even $1000 a day depending on where you live.
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