Awesome article!!....a comprehensive one. @knircky
I am delighted to have read the whole calculation theory. That ultimately computes 1 steemit user = 10 Facebook users.
I think by this year end, steem value will be far more than current one i.e. 10 times rise.
FACT: FACEBOOK is lowering down the rank for the steemit posts being shared on their platform.
And this shows that how fearful they are with the advent of this blockchain-based social media platform.
Not only that, it is disrupting the existing business model of Facebook like companies which is entirely based on revenue generation through Ads. These Ads shown to users in a personalised way using AI and then collecting the amount per likes (by Fb users on these Ads) from Advertisers.
I am really looking forward to the collision of another coin - "Reddcoin", which is aimed at connecting all the centralised platforms through rewards to the users. And this concept poses danger for Steemit's future. Bacause those platforms existed for years. In order to earn, they shall have to switch from Facebook, YouTube, etc. which is a very tedious work. They have to repost their content.
Let's see where this war - "Centralised vs De-centralised" heads to.
Facebook could be ranking down Steemit due to too high a ration between noise and value of most Steemit articles. Curious to read the source of FB lowering the rank of Steemit posts.
You bring up a great point about Reddcoin. Even if as @knircky suggests that most other cryptos don't yet have a working platform, it's just a matter of time before competitors to Steem start emerging and if Reddcoin implements what they have set out to, it will enormously reduce the potential for Steem to grow.
Of course even if Reddcoin works, FB/YT/TW will be be centralized companies, contrary to Steem whose Unique Selling Point is that it is decentralized.