Powerup Statistics #25 - Nov 6th - Nov 19th
Every two weeks or so I like to compare the current power-up statistics and see how we stand.
Here they are:
6 November 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 208,0 million |
| LIQUID STEEM | 122,4 million |
| SBD | 7,4 million |
Virtual Supply ≈ 367,157,866 STEEM
19 November 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 208,0 million (+0 million) |
| LIQUID STEEM | 123,7 million (+1,3 million) |
| SBD | 7,4 million (0 million) |
Virtual Supply ≈ 368,524,166 STEEM
For the first time in months, the amount of STEEMPOWER has not grown.
I was surprised by that so I did some digging.
There are currently some big names powering down here.
That adds a lot of pressure to the STEEMPOWER number.
I guess (I'm not sure) many are becoming STEEM tired.
To see your investment go down every single day, it's just not easy.
And most easy (automated) high ROI options have been taken down to offset those losses.
Nowadays, it takes a lot more effort to make that SP work for a holder then before or one simply has to settle for less (automated) ROI.
(It also means that STEEM is being spread to more users which I consider a good thing).
Personally, for me, because I use the platform every day and being a witness with @blockbrothers I find it a lot more easy to deal with it all.
But I sure get it why anyone would be tired. This bear market will destroy almost anyone.
Steem feels it too, I read more than one post from people noticing less activity (posts) from people they follow.
Combine that with the time where getting easy STEEM is over (I was always expecting this), and what you are looking at is more effort, for STEEM that is getting worth a little less every month.
I do expect that to end at some point, but when? Nobody knows.
But WHEN it ends, what you have is what you have. That's also something I know.
In the meantime, I'll be here fighting and building on Steem. I just love it. Always have.
Anyway, besides the fact that I use Steem every day, I also get a lot of hopes from projects being built on Steem.
Splinterlands Marketcap:
As you can see Splinterlands reached another ATH today.
To do that in current market sentiment is impressive as hell.
And then we have APPICS, Steem-Engine, 3speak, Steemhunt, Actifit, Steempeak, eSTEEM, Next Colony, All the Tribes, and many more parties building still.
We have communities coming for Steemit and SMT's should be around the corner.
Those things keep my passion for Steem high and drive me to keep going every single day.
I want to be part of it.
In conclusion, the powerup numbers this week are not bad and not great.
I guess they suit the times.
The fact that SP is stable even with some big power-downs is something I consider a small plus.
But until the bear market ends, strap in and keep building.
I am part of witness @blockbrothers.
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For me the value of steem measured in fiat money doesn't matter anymore. Being active here is not about the money but about the community of people, the informations provided by many experts and the opportunity to post about my own thoughts and adventures.
The only danger in my opinion is a shutdown of the blockchain due to too low rewards for the witnesses.
Some people may leave steemit (and I have already seen many!), but other will join us and if (yes IF) the value of steem will rise again sometimes, our social network will become much more attractive for many many people.
Let's wait and be patient. And in the meantime let's have fun together.
That's my motto too! I would add 'build' to it though.
I don't fear a shutdown of the blockchain because of low rewards for witnesses. For the price of what it costs now to run a server, I'm sure there are always ppl willing to run a witness.
I was fearing it for a while because of the financial situation at Steemit Inc. around DEC 2018 though. The costs for the infrastructure that many Dapps use was really high and Steem Inc. was paying for it.
But they tackled that this year with the introduction of MIRA and RocksDB, lowering the costs by a lot, and even started to generated revenue with an advertisement model.
There have to be economic incentives to buy and hold large amounts of Steem Power.
Whether people like it or not, the automated ROI was a big part of that. For those who don't have the time or interest for manual curation, what incentives exist today?
With Dlease.io you can still get a 13-14% ROI. And I think if you delegate to a curation guild you can look at 8%-10% fully automated.
If you want more ROI you will have to be more active. Curating well manually can give you around 15%-18%.
All those Returns are pretty decent IMHO. The problem is, of course, the stability of the STEEM price. Even though 8% is nice, it doesn't matter much with STEEM price going ever lower, you still lose money.
The reason why I still hold a fairly decent amount of SP (as an investor) are the access to resource credits (RC's) SP provides.
Every Steemian needs access to RC's. With Communities and SMT's on the horizon and the success of apps like APPICS and Splinterlands, I expect the demand for those to grow, especially with the introduction of RC pools.
If you have SP you will be able to separate RC delegation from voting power I'm told.
Of course, if you don't believe in this I would just hold enough Steempower to have access to the RC's that you need (playing Splinterlands battles, voting/posting) to enjoy the network.
Thank you for taking the time to provide an excellent response!
If someone wants to start a website and integrate steem (or any SMT), while making it frictionless, he'll want to put all the blockchain stuff in the background. So users will come and sign up like on any other website, even without buying steem. For that to work, the website owner has to delegate RCs to the new users. Therefore he must hold Steem Power.
The more users a website has the more it will use the blockchain and the more it will need RCs, so again more Steem Power. If the website owner does not have enough Steem Power, he will either need to buy more or to lease RCs from other Steem hodlers.
If there is enough demand for dapps on the steem network then in the end RCs and Steem Power are going to become scarce. That is also without mentioning speculation and the fact that Steem Power increases your influence (through witness votes and the SPS).
For example, if a successful dapp wants to have a bigger say into who is a witness, or if she wants to fund a particular project through the SPS, the only way it can increase its vote value is to buy Steem Power.
@exyle we are new here and stumbled on your posts. its real insightful about the steemit platform thank you for all your posts it will help me greatly in my new adventure on steemit
The streak had to eventually come to an end but it doesn’t mean it is over. In my case, I have delayed more purchases as I think we still have some time to get more and I still need to do some portfolio balancing before year end. However, Steem remains on the too of my list to add!
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Having less activity from some users is good for the active ones am I right @exyle?
At least the SBD supply is going down :)
You're the best. We are always building! I love to give these too the skeptics . 😊 blunt facts! Again, thank a lot buddy as always i am so glad you are here to share so much knowledge with everyone.
Thank you for your post. I finally bought and powered up almost 5000 steem today. I have been waiting a long time for this moment. Steem has now stabilized compared to BTC for a while. 0.12 cents to 0.15 cents is an amazing price.
The only problem is that I don't have enough money to invest... Will try to dollar cost average every time I have a bit of money.
Since the Dlease ROI has become so low I'm looking for alternatives. Who are the best curators I can delegate to and how much ROI do they return?
You can just follow my vote, this account runs on a A.I / human intervention curation bot.
Humans identify good authors, the bot decides when it is best to vote them for maximal returns.
Setup steemauto look for @reveur trail. I am currently getting 75 to 80% efficiency (around 50 to 80 steem in curation weekly for 20k SP)
Hi, @exyle!
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Don't know what is the future of STEEM.But i will stay with this platform.Good time will come soon.