Steem is in a decent spotsteemCreated with Sketch.

in #steem5 years ago (edited)

Steem has had its fair share of troubles, but it still sits in a pretty decent spot at least in one regard.

Looking at some of the statistics surrounding steem, a couple things stand out...

No, I am not talking about its price or its 3 second transactions and free transfers, the latter doesn't really stand out as much compared to many of the new blockchains anyways.

However, one thing that stands out to me is that steem is actually being distributed... well steem power anyways.

That is something that goes against what many people seem to think on here.

What do I mean by that exactly?

Take a look at this chart of the steem power distribution from back in August of 2017:

(Source: https://busy.org/@taskmaster4450/steem-whales-are-losing-their-power-the-system-is-not-broken-report-through-4-30-19)

As you can see, whales held the vast majority of MVests (which are basically steem power).

Now, compare that with the same chart as of April 2019:

(Source: https://busy.org/@arcange/steem-statistics-20190501-en)

As you can see the whales have lost significant Vests.

In August of 2017, they controlled about 254,000 MVests, and now they control about 209,000 MVest for a decrease of about 18%.

That may not sound like a lot, but considering the inflation rate of steem during this time, it is significant that they their Vests declined at all, let alone by 18%.

Also, take note of all the other 'classes' on steemit....

All the other 'classes' are increasing and making up ground on the whales.

The orca and dolphin classes have made significant gains against the whales.

This means that steem power is being distributed, which is exactly what we want to see for the health of the ecosystem.

One thing to keep in mind... Some large accounts have powered down and removed their stakes from the platform during this time, such as Ned etc. Also keep in mind that if whales just moved their Vests into other smaller accounts the results would look the same.

Either way, I think overall this is showing that the ecosystem is likely growing rather nicely with a budding middle class.

Over time the distribution seems to be getting greater and not more concentrated like some have claimed on here.

Stay informed my friends.

-Doc

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I'll have to compare our wealth gap to that of the US. Last time I checked ours was worse. That will be a real milestone for us.

Posted using Partiko Android

Yes perhaps, but which one is shrinking and which one is growing?

Good to remind us we are here for the long run.
I have a question “ since every day there is an amount of steem available, will it stop one day?”
I know about the percentage dropping and I think the idea where it will be harder to earn steem from the pool.
What is your take?
Keep on postin

Posted using Partiko iOS

No, it never stops. Eventually the inflation rate drops to .95%, but it stays there forever. Currently the inflation rate is around 8% or so. It drops each year.

I wonder how will loo this graph in 5 years...

Posted using Partiko Android

The hope is that it will be even more widely distributed then.

Yes, I hope that too

Posted using Partiko Android

The hope is that it
Will be even more widely
Distributed then.

                 - jrcornel


I'm a bot. I detect haiku.

I'm a poet.

My personal experience with this is that the system is not being manipulated. Smaller accounts really are buying more Steem at these low prices and holding it.

The stats are showing that they are gaining on the largest accounts.

On the TA side Steem is down 50% or more compared to ETH and BTC over the last two months. I always like to try catching that falling knife :D

I have recently been buying some steem as well. It is getting to the point where the market is pricing it as though it can't do anything right. I am betting those guys will bumble around and do at least one thing right. :)

yeah the only time we are in the news is when a disaster happens. I even read about XRP's new blogging platform and Steem wasn't even listed as a competitor.

They have a blogging platform now?

Looking at it now, it appears to be a tipping platform, no?

yeah and a $5 monthly sub.

Ah, so that's their model... steem's sounds better to me.

However, we are sitting in 59th place which is the lowest that I've ever seen us. What do you think about the MEOS social media platform based on EOS that is likely to come out in June?

I think if steemit is not careful, it could eat Steemit's lunch. However, steem is not steemit. They need to get some cool stuff built on steem and the clock is ticking.

Communities and SMTs would really be a game changer on here in terms of actually making it a social site. They haven't been able to deliver on either of those for whatever reason though...

I think 1 of 2 things could happen. If the site really takes off then it could bring attention to social media platforms and could increase our price….however if the site really takes off it could also absolutely kill steem. Of course if it doesn't take off then things would just move along as usual I guess.

I think initially it may take some of the users from here, but the world is a big place and even if it does and steemit eventually gets some things figured out it could still work. I mean there are reddits, mediums, facebooks, twitters, instagrams, pinterests, snaps, and a whole host of others all worth hundreds of millions and billions. And again, if steem just gets something else to take off, like a game or a bunch of little things it won't matter so much what happens with steemit.

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Thanks.

Many have been concerned with the sellout of the whales but distribution is good and given how we are a community, the classes of users are collectively becoming more powerful as well! This means that more decisions can be made by these other classes as well.

Posted using Partiko iOS

I would think the more people that have a decent stake in steem, the greater the odds that something decent gets built on here.

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