Steem Growth update: March - Is something actually working on Steem??
This is the March edition of the Powering up and growth of Steem series. It looks at the changing numbers of Steem Power holders across bands and aims to give a picture of the health of the staked community.
Here are the previous editions:
December
January
February
This is last month's table:
As you can see, there was a massive change in accounts with over 100,000 SP with an additional 10 large orcas or higher being created. We can also suspect that the low prices allowed for some of the lower level growth in the 1000-5000 bracket, which is great to see and need to happen more. Remember that these numbers are still being affected by the people who have chosen to powerdown because of all of the FUD of the last few months.
So, what is your prediction for March?
Boom!
Honestly, I don't know much of much but it does appear that at least one initiative is working on Steem the way it had been planned and I have to say, I am highly impressed. Just look at all of those minuses in the 100-500 range and the explosion into the 500-1000 range of holders.
10k and more?
It appears at least that the @tenkminnows initiative has made a very big impression on the ecosystem in the lower reaches. While I don't know for sure, I would say all of the people working on that project deserve 254 pats on the back. I hope that those who have been supported and helped along their Steem journey continue their growth and in turn pay it forward to others on their way.
Growing in the middle with you
For Steem to create stability in the future, it is very important to build a middle class group of users who can earn, distribute and consume content through the platform and the more there are, the wider the distribution goes and, the more diverse the content. This is the system starting to work and once the ball is rolling, it will pick up momentum - especially with the bulls about to break out of the gates.
Not so many up high
On the entire platform there is only 1413 accounts with more than 10,000 SP which means that the middle class isn't likely to be in that range, it will be in the 500 - 5000 range. Imagine if the 82,000,000 Steem on the exchanges went to mid-range holders on the platform with 1000 each, that would be 82,000 minnows and, the platform would be altogether a different place. It all takes time though, and more people to see the future of Steem.
Which leads on to the next part of the chart where we can see that 5 of the 100k+ accounts have dropped out of the band and into the below 100k ranges. This happens at nearly every band, which means there are some large-ish accounts that have powered down and are the likely reason there is so much Steem on the exchanges currently. While some people might disagree, I see this as a positive sign for distribution and will hopefully mean that the downward pressure will hold steem back a little so that more smaller accounts can get in cheaply.
The benefit of powering down
Benefits?? Yes - benefits. This is a stake based platform and the more that gets powered down, the more pull the powered up stake has on the reward pool. This means that while the powering down large accounts are leaving, the smaller accounts have more and more staked say on where the inflation pool is distributed to.
That is fantastic for the platform and in time, will mean that there is much more stability as well as more people distributing without relying on a whale vote. Of course, there will likely always be some whales and large account holders who will swim the waters but the more lower-end users there are, the less significant the voice of a whale becomes for the distribution of Steem.
A very good March
I really am hugely surprised by the results for March and I am glad that I have been tracking these over the last few months as it provides me with a view of Steem that I haven't seen before. The results that come in give me a chance to create some perspective and see things change little by little or, a lot as the case may be for this month.
Everything takes time and in a decentralized environment, longer for some aspects as we forget what we have learned from the world of authoritative control and relearn what it means to take responsibility for our experience. It isn't a perfect journey, but it is a worthwhile one.
Taraz
[ a Steem original ]
wow, 375 accounts over 50k SP. I thought there would be more.
Do these numbers include delegations or is this only SP fully owned by that account?
owned SP only.
Very encouraging to see those Minnows formed! My Voting Power is crushed given the votes being distributed but it is creating more value with this distribution we are seeing! Great effort all around to making it happen!
Posted using Partiko iOS
Before the bargain conclude and the dripping tap end up too high away from your reach, as to catch the cheap dew. };)
buy, buy, buy!!! :)
I like what I am seeing on here now and it does say things are coming right slowly. It just inspires me to get to 10 000 SP quickly. I think the middle class is looking like the 3500 - 5000 SP range and may drop eventually to 2000 SP. You are obviously in the upper class bracket these days.
If we had a million users then 100 coins would be quite a bit.
Things are going to get crazy at the peak of the next bull run.
I suppose you are right and the more users we have the scarcer it will become. I look forward to the day it starts to get busy again, but I am in no rush.
I've been rather enjoying our low pop status.
Way less spam.
I couldn't agree more and it is easier to get to know other users properly. I actually enjoy the users on here now as they seem more serious and more community orientated. I hated the spam and just glad it has nearly disappeared.
don't you know i'm loco ese?
People don't realise what it is really going to look like in crypto at mainstreaming and Steem will be a highlighted example. Yeah, I am likely to have a fair bit but those with a few hundred are going to be pretty large accounts one day.
I am soon about to reach 500+ I am not that far away :D
Good, luck and keep pushing along.
I agree a middle-class group in steem does offer stability. If only National governments realized that also. But it seems like there's a Financial war on the middle class at least here in America. Thanks @tarazkp
I don't know about that but many of them voted to be screwed over further by the banks last election I hear. Wasn't there something abut draining the swamp - instead of hiring them?
500-1000 is the most important range in my opinon.
Great news thank you for the information.
Posted using Partiko Android
It is going to be the most active range in the future I'd say as it is more likely to actually be active.
One of the main reasons that the 10kminnos project has been working so well outside of the massive effort that @paulag has put in was the fact that larger accounts got behind it and spread their votes to some of the smaller active users. This has made such a difference to people that had been earning 40c per post which started getting them $1 - $ 2.
Seems like a small thing but a person earning this once a day will gain 50 to 100sp very quickly. If we can try to do this a little bit more and spread the votes out it will continue to build a larger more active userbase.
I have since heard how much she is driving this forward.
There will be more initiatives to come and every little bit could make a difference but again, it is a two way street for these accounts.
Some people may see liquid Steem as a bad thing, but think that is something that will continue to grow as people have more and more reason to hold liquid steem
Buying steem tokens, steemmonsters, and the homestead exchange etc etc. For Steem to be a currency it needs a use and to not just ne powered up. Liquidity is a very nice thing for buying, selling, and trading.
Posted using Partiko Android
The use case is growing but I still see this as a collection and distribution phase and now is the time the mid range will grow.
O yeah. It's not going to shoot right back up since we've potentially hit bottom. We still have months if not a few years of slow growth before we see FOMO and irrational prices again. Most see the Bitcoin halving as the next catalyst and unless some big announcement changes something I tend to agree.
I definitely came back and powered up into the 100-500 division. Hopefully 500-1000 isn’t too far away!
When the rush is in, the 500-1000 range is going to make a massive difference across the platform.