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Fundamental as in this context might mean so many things to the different class of people on steemit; those who invested heavily, those who are lucky to get some truckloads of pre-mined steem and those who are earning it through proof-of-brain(i.e rewards from relentless blogging of educative articles). Ultimately, the fundamental value of steem has factors to be considered like @santaclus said and I quote;
"Fundamental here means discounting the effect of inflation and speculation(Market Cap increase)".
Just like the recent surge of SBD as seen on Coin Market Cap yesterday, leapfrogging steem in an overnight drive
Now, if other social media like Facebook and Youtube make their money from Adverts services paid for by external corporations(e.g a pepsi or Crypto AD popping up in a video you are watching on the net), so where does steem make its income?
SOME MIGHT SAY FROM INVESTORS...
Investors who buy a large amount of steem have one main goal, to make interest on their investment, that's if a particular investor has a strong belief in steem and that it will grow-Moon!
But if this is the only reason why investors, people buy steem; then it is not a sustainable reason because this gives rise to a bubble and bubbles do burst!
Considering the hyperinflationary nature of Steem, just like several other Altcoins, some investors might see it as a waste of money to buy Steem which eradicates investors options of where the fundamental value comes from.
THE WILLINGNESS TO BUY AND KEEP/HODL
Hyper-inflation features could be a good opportunity, considering the octane high volatility involved in cryptocurrencies generally, this makes people to willingly buy during the "Bear run and hold till the Bull run" i.e buy when prices are extremely low and hodl till prices rise. So if people believe and are willing to buy steem because they have forecast for its long-term price growth due to the high potential of the Steem Blockchain and its tokens(Coming SMT inclusive), does this add to the value of steem?
ASIAN AND AMERICAN PRESENCE
Steem has a huge number of investor and users from USA, Korea, and China most especially. This factors could add value or marr the value of steem. Global adoption means Global investors and not just three to six countries running the show and boasting of having the largest vested shares which arguably might not add a long-term value to the platform(The Steem Blockchain and its Tokens).
We could all see how power-hungry and greedy investors who had huge steem power wants biggest say on whats visible, whats viable and whats invisible i.e who earns more, who gets flags and the many ways power intoxication resulting from having concentrated SteemPower restricted to a few!
Now that there is massive vote buying and selling, thousands of Bots selling votes and several other reward pool violating acts, does this add to the value of steem or depreciate it? Maybe thats why we are in a whirlpool of steem price and fall or maybe not!
Disclaimer: This is my personal opinion after reading thoughts provoking posts published from the past two years ago on Steemit, and I am hoping to gets answers that satisfy my curiousity in the comment section below!
Check out some of my latest amateur writing below. I appreciate all the support I have gotten from you all!
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FOLLOW-UPVOTE-RESTEEM AND MAYBE DROP A SUPPORTING OR CONTRARY COMMENT.....It's your friendly Neighbor @oluwoleolaide for Steem-Lagos-Nigeria-Africa-World!
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