Bitcoin *only* can deal with financial transactions while Steem or Ethereum can do with other activities. It is like that Bitcoin is a feature phone and Steem is a smart phone in 2008 when iPhone 3g was released but majority of people are using feature phones. If we view phone calls only, feature phones had a greater number than smart phones. But we know this is not an appropriate comparison.

My key metric is total accounts and active in 24 hour accounts. These were increasing 2k per day until the new account slow down was put in place. Still it's nice how easy it is to get metrics for all these currencies. What is the right metric for ether? It's not really a currency transaction currency either. I think it might be fair to compare ether transactions to steem but I would think steem would always have more due to voting..

I think this misses the larger point.  Steemit posts, edits and votes are financial transactions and are occurring on the blockchain.  Steemit is neither Reddit nor Bitcoin -- it's both on one blockchain.  It's an adaptation of the tech that doesn't fit in a Procrustean bed.

Bitcoin remains basically unused as does Ethereum, relative to their value for sure.   Tens of thousands of people, uniques, use Bitcoin every day.  Those uses don't justify the price at all.  It should be much lower but for network effects and speculation on future growth.

Steemit also has tens of thousands of daily users.  It's valued at <5% of Bitcoin.  People are actually engaging with a blockchain in a meaningful way that isn't just speculation for the first time.  This is something new.

It may not work, but this is something new.

Depends on what you count as meaningful.  I know that a big emphasis for @dan has been building a scalable blockchain.  And indeed, that tends to be the tricky bit with blockchains-- especially as we look towards chains that can handle many transactions per second.

First, good analysis.  Second, (and be honest, Kyle) you were looking for something to write because you like seeing your Steem wallet balance increase.

It's still a measure of use, and lo and behold, people are using steem. Quite a lot even, considering how long it's been around.

I am new to Steem so I when I look at the charts I am more impressed by the fact that it can actually handle such a volume rather than whether they are monetary.  :D

On the flip side, one could argue that most of the Steem transactions are actual human social interactions (posts, votes and comments) rather than bots or day traders trading mindlessly. The network effect and how well it will entrench into the people's lives will ultimately guarantee a system's success.

It really do depends on what you value more in life.  :D

You are missing the point. A transaction is a transaction. The network does not care if it's financial or not. It must be capable of processing it the same.  The Steem platform is capable of handling hundreds of transaction per second right now. That is way more than btc can do right now.

Congratulations @kyletorpey! You have received a personal award!

[![](https://steemitimages.com/70x70/http://steemitboard.com/@kyletorpey/birthday1.png)](http://steemitboard.com/@kyletorpey) Happy Birthday - 1 Year
Click on the badge to view your own Board of Honor on SteemitBoard.

For more information about this award, click [here](https://steemit.com/steemitboard/@steemitboard/steemitboard-update-8-happy-birthday)
> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!

Congratulations @kyletorpey! You have received a personal award!

[![](https://steemitimages.com/70x70/http://steemitboard.com/@kyletorpey/birthday2.png)](http://steemitboard.com/@kyletorpey)  2 Years on Steemit
<sub>_Click on the badge to view your Board of Honor._</sub>


**Do not miss the last post from @steemitboard:**
[SteemitBoard World Cup Contest - Semi Finals - Day 1](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-semi-finals-day-1)

---
**Participate in the [SteemitBoard World Cup Contest](https://steemit.com/steemitboard/@steemitboard/steemitboard-world-cup-contest-collect-badges-and-win-free-sbd)!**
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: [@good-karma](https://v2.steemconnect.com/sign/account-witness-vote?witness=good-karma&approve=1) and [@lukestokes](https://v2.steemconnect.com/sign/account-witness-vote?witness=lukestokes.mhth&approve=1)

---

> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!

Congratulations @kyletorpey! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@kyletorpey/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@kyletorpey) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=kyletorpey)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!

![Nailed it](http://i.imgur.com/bsny6H4.gif) 
 Keep up the good work @kyletorpey!