Change In Steem Distribution Levels 3/17/19...We Keep GrowingsteemCreated with Sketch.

in busy •  8 months ago 

Each week I put together a post that broke down the number of accounts that were present at different levels. Here was last week's post.

https://busy.org/@taskmaster4450/change-in-steem-distribution-levels-3-10-19-we-keep-growing

This was motivated by a breakdown I came across about Bitcoin wallets.

Knowing what the distribution of STEEM is important. However, finding out the pace of the change is equally as valuable. Since this is a process I just started, it will take a bit of time to figure out the exact pace. For now, we are establishing a baseline of which to compare.

I use the data provided by Steemitboard put together by @arcange.

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The idea is that Steem needs to keep adding depth. To be a thriving blockchain, we need users. That said, I do not feel that total accounts is a good barometer. Yes, it is the starting point but we know there are a lot of accounts that sign up, do a couple clicks, and then depart.

To me the starting point is the number of total accounts that earn a single SP. The reason I feel this was is two-fold. First, each new account is someone who did something to earn STEEM. Somehow, the STEEM got into the account and was powered up.

The other reason is because we are expanding the amount of people who have some form of crypto. This is vital for the industry in general. We need more people, overall, to engage in cryptocurrency and new accounts gaining SP is a good start.

Obviously, we cannot determine if every new account is a separate, new person but we can presume a large amount of them are.

Here is the chart with the comparison from a week ago to today along with the number from when I first started this.

accts.png

The "Difference" is the number of new accounts that reached each level throughout the weeks. We see two columns, one for last week and the other for this week.
From these numbers, we also see the depth of distribution going deeper. At the same time, more accounts are moving up the scale to higher levels. This is exactly what the ecosystem needs.

Another chart I created was the percentages at different levels for the accounts that did achieve at least 1 SP.

This chart is from November 25th.

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This chart shows that of the accounts that get at least 1 SP, 45.12% go on to get 10 SP. Following down the column, .84% of all accounts that get a single SP end up reaching Dolphin status (5k SP).

The next column does the same. Of all that accounts that 10 SP, 21.22% go on to get 100 SP.

And so on.

Here are the numbers today.

accts.png

The goal is to see the pace of accounts reaching these levels increase over time. As the number of applications on this blockchain grow and the amount of people using the applications expands, we should see the entry level, 1 SP, increase. Of course, this will require the applications onboarding users themselves which is starting to take place albeit on a minimal scale.

We all would love to see these numbers triple overnight. That aside, as long as we see progress each week, we know things are moving ahead. The pace might not be where any of us want it yet we can see, slowly, the ecosystem is growing.


This week the growth rate slowed. We also saw a negative registered in the 10 SP and the Dolphin accounts. Could the run up in the price of STEEM have caused some to sell? Considering we are dealing with the need to power down to do that, it is unlikely. It is possible however so we should keep it in mind.

We will see if this is the start of another trend. Over the past month, the move seemed to be the growth was accelerating. The good thing is there were still a decent number of accounts getting their first SP. To me, this is where it all starts from.


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It's interesting to follow this, and I will be particularly interesting to see how the middle of the table moves around over the next few weeks/months with several "Make More Minnows" initiatives running and a lot of long-time active content creators behind the idea of "building a bigger middle class" here.

=^..^=

I agree. The 500 SP level will be one to watch. How many more are created with dedicated effort as compared to what was taking place before?

Logic would say that the targeting should get more to that level but reality could always be different.

I hope it is widely successful.

The statement that "only 300,000 people holding 1000SP each would materially dry up the entire supply of liquid Steem" has been rattling around in my head, quite a lot.

300K users is almost nothing in the greater scheme of social content platforms... dApps, blogging, whatever format. If there's a strong enough grassroots movement to "Power up and HOLD," that idea is not as far fetched as it might appear...

=^..^=

I do not think it that outrageous although far more likely is 3M users with 100 SP.

As more people join the platform, we are going to see the amount of the reward pool distributed over more accounts..meaning the payouts will be less. It will get harder over time to earn SP.

As that happens, I imagine communities will become more and more important. You can't possibly try to keep up with everyone, but if you are part of an interest-based community, it becomes a little more feasible not only to build support, but to be part of something active where people connect across a shared interest.

Either way, it'll be interesting to see how it unfolds.

=^..^=

Yeah I like the weekly updates and glad to see were steadily growing, but interested to see what happens in the next bull market. I will definitely be selling more steem as we go up and approach record highs in hopes of buying cheaper during the next bear market.

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The $1 level will be interesting to see as many may be tempted to sell and take profits on their stakes. Still too soon to be thinking of that though...

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