The Need to Consider Utility When Deriving Valuablity
Value should be universally perceptive that is when a business is said to bring value then it means it affects everyone that comes across of have use of it. Before we can measure the 100% stances of value then we must have to say it brings utility; so what is utility?
Utility is the ability to be vastly beneficial or useful by all means and utility means bringing more angles to which a commodity is valuable.
For example steem has superior value to most crypto because it's value is placed on it's utility and not really it's prices that means that there are many essence to how far steem can be utilized in bringing the said gain. When there is versatility then there is bound to be utility that's when we can really affirm the all round value of something.
So when going for value always make sure to check for the universal utility of a commodity.
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An verry important aspect of behavioral biology and psychology which most people don´t know. Utility.
You described the utility of the currency STEEM and I agree, but additional and I think more important is the utility of the network (Steem), which is derived by the number of useful connections (utility) a node/user can make. This is what Metcalfe's Law describes: with linear growth of users, a network gains exponentially in value, simply because the number of connections grows with the power of two/n²/users² (or more correctly n log n)
5 users = 10 connections, 12 users already 66 connections. It's not only nice to know, its scientifically validated (for Facebook, Tencent, Usenet, Bitcoin, Dash, Ethereum) (Alabi 2017) that the network value/number of connection/utility correlates with the price or even more: when the price exceeds the network value, than it indicates overvaluation and the formation of a bubble. (Cermak 2017)
On the other hand, network splits or the loss of users can be more detrimental than most people think. With a linear loss, the global utility of the network decreases exponentially. Loss of 25% of users already means halving of the network value (Vitalik Buterin 2017)
resteem and have a blessed sunday
Most briliant comment I've ever read by far definitely, I really did think about this and I was brought to the limelight by what you've eventually just said now, I think it's utility can even be further ensured with your entailed explanations, I may even finish up and do a stance on your reply/feedback. Thanks for this.
I´m glad that you find it interesting. To hear your opinion would be very nice. I have come to no conclusion so far. Its not an easy topic.
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Well said! Happy Sunday brother.
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Yeah definitely, thanks for watching and coming through.
hello