The Price of Steem mostly will be trading at $2.22

It's been used to attribute appropriate values to Facebook, Google, Amazon, and more recently it has even been used to calculate an appropriate value for bitcoin.

What am I talking about you might ask?

I am talking about none other than Metcalfe's Law.

The reason I bring this up is because my favorite Analyst on the Street (Tom Lee) has been using this model for some time now to predict bitcoin prices.

Well perhaps, not so much predict, but to help get an idea of what plugging in certain numbers might do to prices of the coin.

Namely, expanding the number of users in the bitcoin network.

Surprisingly, (or not surprisingly), Lee's modeling has been extremely accurate!

Check it out:

Cool! How does this relate to steem?
I'm glad you asked!

For one, I would think that steem is probably even a better example of the network effect as its primary users mostly come from the social media site steemit.com.

Knowing that information, is it possible we could come up with a theoretical price of steem?

Maybe!

According to data pulled from @penguinpablo's daily steem stats report we can see that yesterday steemit.com had roughly 24,000 daily active users:

https://steemit.com/steemit/@penguinpablo/daily-steem-stats-report-friday-november-10-2017