STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 3/31/19
I last reported the numbers in a post that covered through February 28, 2019.
Each month I monitor what is going on with new accounts and the amount of MVests in each category. I do this to determine what trends are taking place.
Now that we are at end of month, time to post the numbers again.
I want to thank @arcange for the work done each day compiling these numbers and making the charts.
We have 3 months worth of data for analysis purposes to see how the 90 trend might be.
The first chart is from August of 2017, the month I started on Steem. It is placed here to provide some contrast to see how things are changing over a longer period of time.
Here is the breakdown.
8/1/2017
The total MVests here is 336,932.
On a percentage basis:
Whales 75.44%
Orcas 14.86%
Dolphins 7.16%
Minnows 2.14%
Red Fish .01%
Inactive .40%
1/31/2019
The total MVests here is 404,463.
On a percentage basis:
Whales 55.82%
Orcas 20.79%
Dolphins 13.29%
Minnows 6.67%
Red Fish 1.08%
Inactive 2.34%
The change over that time period is as such:
Whales -1.27%
Orcas +3.43%
Dolphins +2.62%
Minnows +3.09%
Red Fish +1.88%
Inactive +2.18%
2/28/2019
The total MVests here is 400,015.
On a percentage basis:
Whales 55.17%
Orcas 22.25%
Dolphins 13.30%
Minnows 6.82%
Red Fish 1.06%
Inactive 2.40%
The change over that time period is as such:
Whales -2.96%
Orcas +7.02%
Dolphins +.07%
Minnows +2.25%
Red Fish -1.85%
Inactive +2.56%
3/31/2019
The total MVests here is 396,322.
On a percentage basis:
Whales 53.36%
Orcas 22.58%
Dolphins 13.56%
Minnows 7.00%
Red Fish 1.06%
Inactive 2.44%
The change over that time period is as such:
Whales -3.28%
Orcas +1.48%
Dolphins +1.95%
Minnows +2.64%
Red Fish 0%
Inactive +1.67%
Latest charts found in this post:
https://busy.org/@arcange/steem-statistics-20190331-en
So what does this all tell us?
To start: The system is working as designed.
The Whales are losing power.
There are now 11,662 accounts who qualify as either Dolphin or Minnow. It was only a few months back when the total accounts above the approximate 500 SP (level to be a Minnow) was under 10K.
On January 31, 2019, the Whales and Orcas had 309,865 MVests (76.61% of the total); on February 28, 2019, 305,720 MVests (76.42% of the total)...a decrease of .25%....On March 31, 2019, 300,984 MVests (75.94% of the total)...an decrease of .62%.
This month, the Minnows had the biggest percentage jump. Could this be part of the 10K Minnow program that is being run? Perhaps it had an impact although this is similar to the increase that category had last month.
The Dolphins saw a nice increase although this was done without any net new accounts. This means the present Dolphins grew either via rewards or buying STEEM and powering up. The Whales saw a significant drop off which also resulted in the total power of the Whales and Orcas decreasing. The Whales are moving towards having less than 50% of the total SP, something we should see in the next few months if things continue on the same trend.
It is important to remember these numbers are owned SP. This is not delegated. Since @steemhunt came into being, a lot of SP was delegated so it is equivalent to a Whale yet does not register as such. This is vital since that SP is used to upvote content by the members who post on that application. Ergo, we have a Whale (equivalent) upvoting smaller accounts.
In conclusion, the numbers are changing over time. It might not be happening as fast as some like but it is taking place. Continual working of the system does yield dividends.
If you found this article informative, please give an upvote and resteem.
Is the system designed to take vests away from whales? Or do you mean that whales help bring up smaller accounts? I can see how percentagewise, whales would lose share of total vests. I just don’t understand if the system is designed to divest or if is simply an even playing field that allows users to grow their share, thereby taking some of what would have otherwise gone to whales?
Posted using Partiko iOS
The system is designed to reward people for creating content and upvoting that content. When you look at the numbers, there are close to 50K accounts transacting a day. With the Whales being so small in number, they simply cannot create enough content to keep up with all that is being posted and voted upon. This means that, collectively, the Minnows (for example) are taking a greater portion of the reward pool. This is being reflected in the fact they are growing at a faster pace (as a whole) over time.
The Whales are not losing the MVests, they opt to power down. Why are they doing this? That is anyone's guess. There could be some profit taking; maybe diversifying into other things; or maybe they are tired of waiting around. I have no idea.
The point is the Steem Power is balancing out over time. This is making the Dolphins and Minnows holding a higher percentage of the total stake.
Thanks for explaining. It’s important to me as a minnow to have the expectation that my account will grow in time as I use the account. It’s also important that if I were ever a whale, that I could preserve my hard work. I’m satisfied with your explanation that the platform works as designed.
Posted using Partiko iOS
Your Steem Power cannot be taken away from you. The only way to "lose" it is to opt to power down. Those who keep at it and are consistent in their activity on here tend to see their accounts grow over time. The reward pool is consistently throwing out 800K STEEM a week. Whoever is active will participate in that to some degree.
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Thank you for putting all of this together, @taskmaster4450. It’s really interesting information. It will be nice to see a more even distribution of SP over time.
Interesting info, but some questions. The main one being, how much of the whales' decreased share is due to Steemit Inc powering down and transferring to various exchangers?
Good, however, to see the Dolphin/Minnow MVests increasing.
Thanks!
I didnt look at the Steemit Inc accounts in particular. I know there was a big drop in December and January when the powering down was at a greater pace. Obviously, someone was powering down because of the 4,000 MVest drop.
I did not seek out which account(s) it is.
This will be good. I have a goal of becoming a whale,but it's only so that I can continue on my quest to assist the smaller accounts, so good to know that I can do that relatively easily.
Does the drop in whale MVest have to do with the steemit account powering down?
Posted using Partiko Android
It could be Steemit Inc or another Whale.
I did not research which accounts were powering down.
I am half way to get another MVest and this excite me to accumulate more Steem Power!
Posted using Partiko Android
Accumulating more SP is very exciting for all of us who see the long term potential and the vision of some of the developers on here.
A few years from now I think we will look back and say "wow".
Exactly and this is why I keep going because I still believe!
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Love to see that Minnow category grow while the price remains here as it will be a great step to the Age of Abundance my friend!
Posted using Partiko iOS
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!