The 14,217 Most Important Steemians: The Future Of SteemsteemCreated with Sketch.

in busy •  21 days ago

There is a lot of talk about a middle class forming on Steem and for good reason. Historically, those economies with thriving middle classes have done well. It is when the wealth (power) is in the hands of the few that things go bad. Naturally, we are seeing this all over the world today.

Cryptocurrency is the ideal solution to the inequality problems. I take some heat from time to time about my posts each month outlining how the system (Steem) is working. Nevertheless, looking at the numbers each month and watching them closely, it is evident that there is distribution.

Now, in my view, distribution can happen in a variety of ways. In the world of crypto, people can buy in, mine, or on Steem, get rewarded. There is also the payment out of the inflation rate as an incentive to power up or running a witness node.

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

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I put together two charts: One is the number of accounts with 100 SP and the other with 500 SP.

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Why did I start with 100 SP?

My reasoning is that, after analyzing it for a while, this is the most important level for Steemians to get to. Hence, if Steem is going to have a thriving middle class, this is the level we need to start focusing upon. I will share the why in a bit.

As you can see, there are 25,441 accounts with 100 SP while 11,224 have 500 SP. Using some of that old math that we all learned in school, that means three are 14,217 accounts with at least 100 SP and below 500 SP.

Most of you will recognize this table from my post on Sunday. This is the penetration rate at each level up to Dolphin.

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This also answers why I feel the 100 SP level is vital.

Looking at the table, statistically speaking, any account that reaches 100 SP has a 44.11% chance of reaching 500 SP. Going down on the table, this same account has a 28.73% of getting to 1000 SP and a 9.06% chance of getting to 5000 SP.

Of course, these percentages can change and nothing is guaranteed. Nevertheless, those are the percentages based upon the numbers as they are now.

There is another reason I feel this level is very important. People who have 100 SP had to do something to get to that level. They were active for a long enough period of time to get 100 SP. While it is possible that some was bought, I would believe that most of it was earned. This means they are active participants.

Also, when the next bull run hits, these people have enough STEEM that it could be worth a decent amount. Even getting to the $10 level would put all these accounts over $1,000. This is not enough money to retire on but it isn't chump change to most of the world.

Using the 44% and 9%, if these hold true, we will see:

6,255 more Minnows and 1,279 more Dolphins

Here is the account chart @arcange posted that reflected the accounts through 1/1/19:

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https://busy.org/@arcange/steem-statistics-20190101-en

That would put the Minnows over 15,300 and the Dolphins over 3,200. At that point, I believe you would have a much stronger middle class. Of course, some accounts will move up out of those two categories which is also a good thing. Nevertheless, that is a jump of 69% and 65% respectively.

The point is we would then see even more accounts working their way up the scale.

I bring up this point to make everyone aware of the importance of these accounts. It is easy to feel like one does not matter with an account of only 200 SP. These stats show that is not the case. Tomorrows Minnow is today's Plankton.

At the same time, it is also easy for the Dolphins+ to overlook these accounts. This is a mistake because they are vital to the future health of the ecosystem. The more people we get into the 500-5000 SP range, the better. Those people, presently, are between 100-500 SP.

The bottom line is we need more initiatives to get SP flowing to these accounts. I am working on an idea that I think might help. I am playing with the numbers to see the feasibility of it. Perhaps we need to set a goal, perhaps for the month of February, to create as many Minnows as we can. It we can come up with an assortment of ideas and implement them simultaneously, perhaps we can have a month where we exceed the average.

Let me know your thoughts on this.

By the way, there are roughly 93K account between 10-100 SP. So there are plenty off accounts that can potentially fill in the void left by any that reach Minnow.


If you found this article informative, please give an upvote and resteem.

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My SP at the moment is 213, if not delegated 190 sp to @smartsteem for passive income of steem, which I always powerup, and tru the kindness of efforts of @crypto.piotr who delegated me 80sp, so I have 104 liquid sp for my steem actions.

I tried my best to post content relevant to myself, but still, I cant gather bigger chunk of %upvotes.

I also bought steem from my personal savings, but I am just a low waged teacher so cant get more extra pesos to buy steem.

I will eventually reach 500 sp in two years granted in my situation.

Recommendation:
Increase upvote frequency for ALL dolphins, orcas and minnows.

The increase in upvote traffic will make an avalanche of earnings thus will boost users to be more active, and eventually buy more steem.

Hope my case and suggestions adds to the pool of ideas.

Posted using Partiko iOS

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Hi @guruvaj

Thx for mentioning me and your kind comment.

I tried my best to post content relevant to myself, but still, I cant gather bigger chunk of %upvotes.

perhaps I could try to help you out and bring some quality traffic to your publications? What do you think?

ps.
you're very responsive which is absolutely great and steemit community surely will benefit by having you here.

if you would ever like to keep in touch and support each other closer, then drop me a message promib.pl@gmail.com.
This will allow us to communicate easier.

No pressure of course,

Cheers, Piotr

It's so crazy that there are less than 100,000 accounts that are actually active and have a legit amount of STEEM.

Kinda sad that most people that try the platform leave.

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Yes it is sad but, from my looking into it, it is about par for social media retention rates. The average application runs about 8%.

I am hopeful that as people sign up through the apps, the retention rate grown.

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Yeah for sure. Turning away from steemit.com toward DApps like Partiko, esteem, busy and the like is how people will start and stay

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Hi @hotsauceislethal

I think there is 100k account having some Steem / SP but currently less than 10k is active :(

cheers
Piotr

So tell folks to stop voting on posts with more than 2stu on them?
People complain about the rewards going to the few, and then vote them more.
Smdh.

Happy New Year @taskmaster!

Not sure if you're aware, but check out this post by @steemcommunity (@abh12345 & @paulag). Minnows join and they track your SP progress and break it up into different levels eventually reaching dolphinhood. As you know that gap is so large that it can sometimes get a little frustrating but by them dividing it up, it becomes a much more manageable task. I think it keeps people coming back for more, at least it does for me 😊

Thank you as always for the information.

Once the Steem price stabilizes, this could also lead to much more retention and lrice stability as users hold and grow SP by earnings instead of selling them off. I think that earnings at these levels will be more “sticky” than at higher prices given those that come in for the financial rewards solely.

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Very true @newageinv

I strongly believe, that once prices of crypto will start recovering then we will surely see many new users.

Yours
Piotr

Good morning @taskmaster4450! Thanks for taking time & energy to put your thoughts and these numbers together like this! I totally worked hard for that first 100sp! It built what i feel us a good foundation. Next stop dolphin 🦈
All the best to ya Steembro! Love seeing your contributions to the block 🥂🎶

It is a good idea you have although a lot of those with large steem power don't share your feelings because I see that they will rather vote those who are already getting enough votes on their post than vote minnowers who are not getting enough votes on their post.

I like your optimism, usually read your articles about the developing of Steemit and the mid class accounts, but I wonder if you're taking in count that some of that minnows, dolphins and orcas might be the third or fourth account of a whale. Do you have any data to discriminate them from these numbers?, if the answer is no then the conclusions about the developing of Steemit could be entirely wrong.

Anyways I have to congratulate you for your work, it's always inspiring.

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There is no way to know who owns what accounts unless the person admitted to it. This is no different than Bitcoin. How many of those wallets are owned by the same person? EOS went live with roughly 50% of the tokens in 10 wallets....was that 10 different people or 2 people with 5 wallets each? No way of knowing.

Certainly there are many on here with a number of different accounts. Even Steemit has a few different accounts that have a lot of SP in it.

What I can say is the Whales did not set up 14,000 accounts that are in the range I discussed in this article. Nor did they set up 8K accounts that are minnows. So the conclusions are not wrong although the numbers could be skewed if talking about individuals versus accounts. Since we cannot determine the individuals, we can only go based upon account information.

One other thing, I do not comment about the development of Steemit but of Steem. To use Steemit when referring to the blockchain and ecosystem is incorrect and causes a great deal of confusion.

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Thank you for the clarification, that's what I thought, that it wasn't possible to know who has that accounts, anyways like you said it isn't very probable that the whales have set up those accounts, most of them should be new steemians, even the alt accounts of the whales usually have more SP than 100-500.

Sorry about the Steemit mention :) and thank you for the answer.

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I love how responsive you are @taskmaster4450 :)

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hi @palasatenea

might be the third or fourth account of a whale

That's such a great point. I didnt think about it till now.

And @taskmaster4450 seem to be right. There is no way to know.

Cheers
Piotr

When you consider that it only costs $28 to get those 100 coins right now it's kind of mind-blowing. Either people like us are wrong and everything flops, or a tiny investment could be the smartest allocation of funds ever.

When people ask me about blockchain this is what I tell them now. You don't need to invest thousands to make a return anymore. This tech is so revolutionary and largely unknown that the risk/reward is astronomically in our favor. Newbies should only be investing "throwaway money" with zero emotional attachment.

The Unit Bias of Bitcoin is a big problem as well. OMG $4000 for only one Bitcoin?!? People need to start thinking in terms of Satoshi. $4000 for 100,000,000 Satoshi. $40 for 1,000,000. Unit bias is a trap. You haven't missed the train.

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Great to see your comment again @edicted

Either people like us are wrong and everything flops, or a tiny investment could be the smartest allocation of funds ever.

We're on the same page. I figured that since STEEM dropped already over 90% then also most power-sellers are done with this platform, then price should stablizie and I dont see much potential for another heavy drop.

Yours
Piotr

Hey there thanks for the info. The points you have raised are very much valid.

Quick question: Is there a site where I can get this info?

Posted using Partiko Android

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I would also like to know if there is any site with those datas @naijauser :)

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I haven't found any yet. I didn't get any reply.

Posted using Partiko Android

Highly rEsteemed!

Way to hustle!Screen Shot 2018-12-30 at 12.45.35 PM.png

Posted using my Thumbs.

Great article. You think it is a good idea to be in the voice path (trials?) I recorded a video on dtube with a query and got 0 responses. Are people afraid to talk about it? Thanks to the larger accounts I quickly gained 100 SP a month writing and recording good posts and videos. My Sp is 750 for year. Now I would like up to 3000 Sp or 5000😀

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In order to create more Minnows I'm donating Steem for several drawing contests.

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Hi @taskmaster4450!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.200 which ranks you at #244 across all Steem accounts.
Your rank has improved 2 places in the last three days (old rank 246).

In our last Algorithmic Curation Round, consisting of 240 contributions, your post is ranked at #8.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Good user engagement!

Feel free to join our @steem-ua Discord server

This post has been included in today's SOS Daily News - a digest of all you need to know about the State of Steem.



Thank you so much for participating 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!

Dear @taskmaster4450

Interesting choice of topic. I wasn't aware of middle class growing on Steemit platform. That's a good sign for our little steem economy.

I agree that only if power and wealth are distributed then it serves entire population. Otherwise clashes and tension will always occur.

100SP is necessary for anyone to really start any sort of activity, but 500SP is first milestone that really seem to matter. But then it's just my own little opinion.

Thx @guruvaj for mentioning me so I could read this post. Appreciate.

Yours
Piotr

Great post. I was lucky enough to invest some of my own money in the platform but I find its incredibly important to help the accounts that are lower than yourself. It’s a benefit to us all!

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