Yes, I would say top 10 is quite a joke at this point. Assuming, of course, that Steemit is any part of this equation.
If this is all a dress-rehearsal to "tokenize the web" and nobody actually gives a fuck about community, blogging, meritocracy, reward distribution etc. then perhaps he's right.
After all, Ripple, premined garbage was #2 market cap briefly today.
Agreed. I think the value of steem is inextricably tied to the perception of the value of this platform. And with all of steemit's deficiencies, I simply am dumbfounded by Ned's assertion that it warrants a Top 10 valuation in the global crypto space. I would agree with such a valuation IF the execution of the underlying idea behind steemit (reward for quality content) was done correctly. The entire ecosystem of voting bots proves that this is simply not the case. If you have a chance to comment, I would appreciate your insights on a post I recently published entitled "Reflecting on the Value of Steem - Part II".
"Agreed. I think the value of steem is inextricably tied to the perception of the value of this platform. And with all of steemit's deficiencies, I simply am dumbfounded by Ned's assertion that it warrants a Top 10 valuation in the global crypto space."
He fundamentally disagrees with your premise. He thinks the value proposition here is almost entirely SMTs, because he's going to "tokenize the web". (lol)