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RE: Why current STEEM market cap makes absolutely no sense. //+ thoughts by Warren Buffet//
Great post. I see that great effort was put into writing this. I personally belive that Buffet's analogy does not apply to Bitcoin. Cryptocurrencies are not profit-producing assets or business, but secure networks that allow value transfer without a 3rd party.
Buffet is trying to shoehorn crypto into the business framework, and it just doesn't work.
Cryptos should be valued based on emtrics like daily active users, security and volumes.
Well yeah thats the other side of the coin i try to present below the video. I agree completely with him what he says in the video about bitcoin in terms of not creating anything, with those "investing" depending on the "greater fool theory" for profit. What he dismisses is the underlying idea behind blockchain...
I find it important to mention BTC and its clones because Steem offers all the same things, is superior at it and with that, Buffets and traditional market investor criticism, does not apply to steem.
Which is why the title. It makes no sense for a cryptocurrency that fulfils all aspects of what could be considered a good investment, to be at 230 mil Market cap.