Powerdown Statistics #10 - April 23rd - May 6th - Vested STEEM has gone up!
Every two weeks or so I like to compare the current power down statistics and see how we stand.
Here they are:
23 April 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 197,5 million |
| LIQUID STEEM | 109,6 million |
| SBD | 9,3 million |
Virtual Supply ≈ 329,423,427 STEEM
6 May 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 198,1 million (+0.6 million) |
| LIQUID STEEM | 110,6 (+1 million) |
| SBD | 9 million (-0,3 million) |
Virtual Supply ≈ 335,153,347 STEEM
As expected the SBD to STEEM conversion has increased with the price of STEEM coming down.
In conversion, the SBD is burned and STEEM is created.
You can see the impact the lower STEEM PRICE has on this process when you look at the Virtual supply. If all SBD could be converted right now at the same time, about ~6 million more STEEM would be created than 2 weeks ago.
In the last 2 weeks around 300k SBD has been converted to STEEM.
On a positive note, the amount of vested STEEM (total amount of STEEMPOWER) has increased in the last 2 weeks.
Maybe this has something to do with the SPUD initiative. It's been a long time this number has gone up but it's always nice to see people willing to lock up STEEM.
Volume on Exchanges is still extremely low. I haven't found a reason yet.
STEEM has set a new ultimate low in Satoshi value briefly yesterday. It's now trading above it but not by much.
In USD value the ultimate low is around 7 cents, we are still far away from that. We currently trade for 33 cents.
Besides all that people are still building on Steem every day.
In my opnion, it's pretty simple:
A low price attracts builders/believers, a high price attracts takers.
STEEM is being spread around. Our middle class is growing. It's flowing into strong hands.
Check out this post by @taskmaster4450 here.
8/1/2017
4/30/2019
We see a big growth in minnows, dolphins, and orcas.
It's been a slow process but it is happening and it's what should happen.
A solid foundation for the vision I always had for Steem. A huge social economic ecosystem.
And with luck, the temporary low STEEM price will accelerate this process. That's a positive thing about it.
Only takers get hurt by a low STEEM price. Builders grab the opportunity with both hands.
My thanks to everyone that shows up on Steem every day and put's in the work.
I am part of witness @blockbrothers.
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Great encouraging analysis here Mark! I have found the means to do the $100CAD deposit minimum with Netcoins so will give Freedomex a go later on today and will power up a few more Steem too! Woop woop!! I am thankful for guys like you & Taskmaster who help keep a great outlook on this unfolding project with solid analysis of fundamentals. It's great being on the cutting edge with this way of the future! #steemcommunity
Awesome! Would you be willing to write about the process once you have the STEEM? I'm curious about how easy it was. Doesn't have to be a 10-page paper, just a small impression is fine.
For sure!
love these numbers.
and it’s so true. my only focus right now is building on steem. price is great to accumulation. so i will do everything i can to get more of it.
orca dreams by the end of 2019 i hope :)
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Keep building man! And thanks for all your hard work!
What are the accepted STEEM token levels for orca and dolphin, etc? Where can I find this info?
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Minnows (500+ STEEM), dolphins (5000+ STEEM), and orcas (50000+ STEEM)
ohhhhh, i still have a ways to go to get to dolphin. Must write more blog posts! Thanks for the quick reply @exyle. Go Ajax!
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I was going to say, we should have seen an uptick or a decrease in the power down given the SPUD that just happened. I wasn't able to power up as much as I had hoped, but I still was able to get a little bit in there. As I have said before though, I power up everything, so every day is SPUD for me!
Yeah!!!!
I am the one of 4145 redfishes. :D
The powerups are encouraging.
I am part of that along with the usual middle class suspects, but sometimes I wonder whether we're living in some kind of steem, or even broader crypto bubble!
Rankings on State of the Dapps are one thing, but active users are still tiny!
I just don't get what it is that's stopping broader adoption!
I'm gonna dig around for some actual proper sociological research if there is any.
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Truth be told, I think the whole space, in general, is much smaller than we think it is. I've only recently started to accept this. Lot's of work to do.
TBH the active user figures on state of the dapps did shock me... then again at least it's not just steem that's struggling.
The London blockchain conference a couple of weeks back wasn't exactly packed out and the latest London crypto conference was cancelled due to lack of intrest.
Lots of enthusiasm and networking among converts but much less interest from people on the outside it seems.
Still, time to buy in - just never more than 10% of my monthly income.
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I get the sense that most ppl just dont get it. The concept of blockchain is a paradigm shift they are not willing to embrace yet. They are comfortable doing what they do because it is their comfortable normal. Most ppl are so busy in their world doing what they do they dont have time to learn and do something different. It's an odd stroke of "luck" that i have had that space to get involved. Though the first moment i learned of blockchain i wanted to be on board with it. Though it took about 4 years and Steem was certainly the means to do that. So glad to be here! All the best in your endeavour to research, i am curious to know what you'll find!
I guess at least as far as social media blockchains are concerned most people don't think about their data being stored by one big company in a handful of locations!
Perhaps what we need is some blockbuster Movie where a 'Facebook' type company goes down and everyone's social media profiles disappears - but it's decentralised blockchain to the rescue!
Yes! I think you're on to something with this idea! Or some movie star/ famous person needs to start promoting it. No one's listening to me LOL 🤷♀️
Do you think is about time to plan a new hard fork and change the following rules.
Stop the internal sbd to steem convertion.
Remove SBD completely.
Increase the interest level for incentive people to power up more.
No, without conversion we can't maintain the peg.
A stable coin in the form of SBD will go a long way in the future and I think it's worth keeping even though with this STEEM price is a pain the in the ass.
If you increase the interest, either the authors, curators or witnesses have to get less. Which one?
I prefer being a builder!
Thanks for your candid encouragement @exyle
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The re-distribution of Steem Power is wanted needed and happening!
This is what I knew would happen with the lower prices of Steem @exyle the amount of dolphins is definitely growing and I am glad to be part of that group, the minnows also are doing really well and I guess truth is one day they will probably overtake everybody.