Liquid STEEM Report Jan 10, 2019
This is a historical graph of both Total STEEM and Liquid STEEM supply
(Note) There are two different scales on this graph. For full scale, see graph below.
Liquid STEEM is the remaining STEEM that has not been converted into Steem Power. (Orange Line)
- When STEEM is liquid, it can be readily sold and purchased.
- When STEEM is locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.
This is a graph of the same data. The data of this graph was plotted on the same scale to show the massive difference between Liquid STEEM and STEEM stored in SP
I created these charts with data that I collected over the last few months.
Why are these graphs important?
STEEM is created at a high rate. Currently 8.61% per year. Many Steemians have a concern about STEEM inflation with the high rate of new currency creation. These graphs show that there is a limited supply of STEEM. Inflation is being offset by the rate of STEEM converted to Non-Liquid STEEM.
I hope you enjoyed reading my Blog. Please remember to Upvote, Resteem, and Follow. Thank you.
---------------------------------------
For a breakdown of how Steemit Rewards system works:
https://steemit.com/steemit/@socky/simple-steemit-rewards-breakdown-how-it-works-since-hf20
For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-keys
For a breakdown of why Steem Power is Important:
https://steemit.com/steemit/@socky/why-is-steem-power-important-beginners-read
How to improve STEEM payment system:
I think this is a healthy ratio... I think only about 20% of total STEEM is currently listed on exchanges for trading. This goes back to our discussion about the 51% attack.
I didn't quite realize what you were referring to about the need to get that much STEEM. Now I see what you are saying.
One needs to buy up a huge amount of STEEM so that they can power up and vote a bunch of witness nodes to put them into the top 20. But if they attempt a 51% attack, it would devalue their SP holdings to the point it would cost them more than their investment.
The problem with attempting to pull this off (as you are pointing out) is that there just isn't enough STEEM available for purchase.
I've already decided to start powering up at least some of my Steem at the end/beginning of every month. Even with Steem being so low in the markets, I'm looking forward to building up my holdings and influence.
Good for you!
We need a huge power up again to get the numbers of liquid STEEM down.
I would like to see a trend of powering up leading to a steady rate of decline in the liquid supply.