Powerdown Statistics #1 - 29th December 2018 - January 11th 2019.
Every two weeks or so I like to compare the current Power down statistics and see how we stand.
Here they are:
29th December 2018
| STEEM | Amount |
|---|---|
| STEEMPOWER | 205,3 Million |
| LIQUID STEEM | 85.6 Million |
| SBD | 11,89 Million |
Today (11th January 2018)
| STEEM | Amount | |
|---|---|---|
| STEEMPOWER | 206,2 Million | (+0.9 million) |
| LIQUID STEEM | 86.6 Million | (+ 1 million) |
| SBD | 11,59 Million | (- 0,3 million) |
Positive things: STEEMPOWER is still going up. By 900k vested STEEM since 29th December 2018.
And the amount of outstanding SBD is also still slowly coming down. Less then last week but still with a nice 300k SBD.
The downside is we are creating a lot of extra STEEM because of conversions (SBD to STEEM). The total supply has grown by 2.1 million in the last 2 weeks.
We are still outpacing the set inflation (~8,5%) for this year by a lot. And I don't see it change unless STEEM goes up significantly and conversion becomes less interesting.
(If you want to read more about inflation I wrote about it a month ago here.)
Fun note:
It sure doesn't look like many Steemians want to part with their STEEM. Which is a very positive sign.
But we also don't feel like buying it. Which I guess makes sense with the market sentiment.
Currently it would 'only' take around 22 million USD to buy up all the leftover liquid STEEM.
For what the Steem blockchain is today with all the development and Apps that does not sound like much.
Because of this, I still believe any reversal in STEEM price will be swift and very sharp as it has done in the past.
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Get it Here:
Is their any failsafe to prevent the inflation from getting too high? Anything that can be done to reduce inflation back to normal levels?
Posted using Partiko Android
On the SBD to STEEM conversion there is. It has saved us from a nightmarish inflation with these low STEEM prices. But current inflation is still not pretty. Luckily there is an end when the SBD's run out (or when STEEM goes up a lot).
On https://steemd.com/ you can always see how much STEEM would be in existence if all SBD would be converted RIGHT NOW + The current supply. It's called the Virtual STEEM supply.
I wonder how much of that SBD can never be converted, because people have lost their private keys?
Mark @exyle REVERSAL
LOL! 😂🐕🍕
I commented with @socky about this, if it would have any problem since the increase of the offer of Steem is helping him to have the lowest price, since we have a somewhat lower demand due to the inactivity of the users.
The good thing is that as long as we do not have a big power down, we know as much liquid steem as we can have, which does not interfere as negatively as a power down of a whale for example.
I am surprised that an entrepreneurial type VC firm hasn’t stepped in to buy a bunch of liquid Steem as it could serve as a funding mechanism for projects and DApps with great potential. Diligence does take some time so you never know when it could happen!
Posted using Partiko iOS
The best is to remove SBD that not bring anything to the ecosystem.
Posted using Partiko Android
Totally agree. SBD always felt like a needlessly complex addition -- plus the peg never worked anyway.
Thanks for the valuable input. I'm still impressed with the weird price patterns of SBD. It should stay around $1 but it fluctuates quite a lot. Even the Bitcoin drop affects it lol : )
I assume some changes have to be done in Steem economics to make it work properly.
Well, steempower could get a little (25%) hit by this operation:
Great there are these positive fundamentals. Thanks for posting the post about inflation. I became curious so thanks for thinking of users like me who are still trying to figure this crypto world out! Have a wonderful day Mark! Steem on!!
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Good to check out these stat's the belief in steem power is going on :D