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RE: Have no fear, Bitcoin to double from here. Altcoins (Steem) to do even better.
Purpose of the STEEM blockchain is to tokenize the Internet (i.e. World). Steemit (i.e. Social Media DApp) is just an application running on the blockchain.
More: https://steemit.com/steemit/@lexiconical/what-if-steemit-really-is-just-a-beta-afterthought