@jerrybanfield excellently written and detailed post - you have made a lot of valid points.

I do, however, feel like you've overlooked one huge advantage of STEEM / SBD: that any of us can transfer value to one another exceptionally quickly and without any cost.

If we compare that to some of the other Cryptocurrencies with larger market caps then there is an obvious benefit that I don't think has been correctly priced in yet.

My belief is that in order for a Cryptocurrency to really take off then the value has to be really obvious - and extend beyond it being a one-trick pony of helping to monitise content creation (and content moderation).

What we now see is that people are already starting to list services on Steemit instead of other platforms like fiverr (the community has already started the initiative #steemgigs) because people are starting to realise that they can pay someone anywhere in the world for carrying out some work for them in seconds without anyone charging a fee for it.

For me, that's a huge plus for STEEM.