Chart Of The Day: How Many Tokens Do We Have? Crazy

in steem-engine •  4 months ago 

Allegedly every week or maybe every day a new tribe or token is founded, created, launched. At least that is what I have read in various posts. But nobody seems to know how many are already created. So, as a collector of the trading data of Steem-Engine, I made a little counting in my Excel table.

And the number is…

These tokens are mobilizing many Steemians and are dominating many topics and posts, forums and discussions, Discord channels ultimately. By my research, the number of these tokens was 438 on August 1, 2019. Only 364 on July 7, and 398 on July 20. Twenty percent growth in 26 days.

Or, 74 tokens in 25 days. Three tokens a day. Crazy. On Steem chain are created a similar number of tokens or even more a day than in all the crypto world. Coinmarketcap has 2413 coins and tokens listed at the moment, but that is a product of approximately 6 years.

Cod number of tokens.jpg
(Click to view in higher resolution.)

Very well. I wish my wealth was growing so quickly, but the prices of the particular tokens are mostly falling. Many bloggers are supposing some concentration, clearing, purge will happen in the future. Less is sometimes more.

Categorized tokens?

Of course, many of the tokens are only experimental or just something for fun. Who wouldn’t issue a proper currency if he or she could do it? We all live only once. But I suppose Steem-Engine should make some classification. Distinguishing between serious community tokens and tribes, and experimental, individual, private, joke tokens.

There is nothing new in this, not even really my idea: Stock exchanges in the world mostly have two or three stock classes or categories. Like A, B, C, or Premium, Standard and Emerging. Or First, Second, Third, the name is not important. The quality they contain is. The data, the tokens could be analyzed better, investors would know in which category they are welcome.

Benefit of the trading volume

At the moment, you can find some orientation in the trading volume (here). I suppose the 20-30, maybe 30-50 most traded coins are more serious. Or, they are something we can call “publicly traded”. The others are not recommended. You can buy it but later may never be able to sell it again. Or only for a fraction of the price.

Answer my poll, please: Which Tribe Has More Future?

See also my reports about Steem-Engine (SCOT) tokens trading volumes and prices:

The series “Chart Of The Day”

I started a series with the title “Chart Of The Day” because I see every day interesting things on the markets or in the news. Other parts here:

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Tokens need a purpose. Otherwise they are pointless and will go to 0.

!dramatoken

Posted using Partiko Android

Purpose, use cases of DRAMA, please? (Nothing here: https://steemit.com/@dramatoken )

True @bluerobo

Very true. Purpose can create term demand. Right?

Cheers
Piotr

It develops almost as a byproduct. Look at aggroed related tokens:

  • ENG in order to create tokens/tribes
  • DEC to play SM.
  • PAL as a free lottery ticket in airdrops of future SE tokens, because it works as a good enough proxy for interested users.

Some tribes are holding up rather well because they police tag abuse/farming. STEM, CCC and SteemLeo come to mind.

It's an interesting experiment to watch how the tribes will fare over time.

Posted using Partiko Android

Hi @bluerobo

Thank you for your kind and prompt reply. Appreciate it a lot.

It's an interesting experiment to watch how the tribes will fare over time.

It surely is. I wonder what fans of decentralization and lack of censorship would think about tribes.

Yours, Piotr

Dear @deathcross

I'm very sorry for such a late comment. I bookmarked your post a while ago but I didn't really managed to read it through until now.

It's not very surprissing that so many new tokens and tribes are being launched, considering how well steem-engine has been done, how intuitive it is and the fact that it's very cheap to launch your own token.

So people do that, often just for fun and mostly to get some experience (which may be useful in the future, once SMTs will be released).

Any idea if buying/selling those tokens do have any impact on price of STEEM?

Very well. I wish my wealth was growing so quickly, but the prices of the particular tokens are mostly falling.

Current prices are not backed up by demand. So they can very rapidly go to zero.

But I suppose Steem-Engine should make some classification. Distinguishing between serious community tokens and tribes, and experimental, individual, private, joke tokens.

That's an excellent idea. Are you perhaps in touch with anyone behind this project? Mostly Steemit Inc should learn about it.

Yours
Piotr

SE is still a prototype. I hope they will do some updates soon.
Like: charts, buy and sell prices, sowing actual amount and value of coins owned.

It's simple things but they have a big impact on the experience.

Indeed @bluerobo

I also miss the chance of seeing charts and some basic graphs.

In a newer post I proposed market-making activities.
Steem-Engine is treasuring the Steem people are depositing in exchange of other tokens. That reduces the inflationary effect but as the tokens itself have an inflation (I have read about 10-20 percent p. a.) In total I suppose some inflation effect must be exist.

I suppose another negative effect is that people are paying attention to tribes, curating and not Steem. Are trying to get more SE tokens than Steem.

Positive effect is many are more active than before.

Hi @deathcross

Thank you for your kind and prompt reply. Appreciate it a lot.

Positive effect is many are more active than before.

Another positive effect is the fact, that those tribes are creating so called "sinks" where they burn tokens.

Yours, Piotr

So, sinks are a perfect solution to solve the problem of tokens which wouldn't exist without the tokens. :)
Or, with other words: Why to make so much money if you must burn it after? Make less.

Unfortunately I'm late for the survey but I want to add my comment: I believe in the token of STEEM, PALNET, NEOXIAN, DEC, ORGANDUO, STEAMPEAK, CreativeCoin, MARLIANS and others for fun.

I guess this proliferation of tokens will give Steemit a little flavor and publicity. In addition to directing a better use or purpose for this blockchain platform.

:D

Thanks for sharing!

United we are strong, divided we are weak. I think too many tribes also can cause weakness.

The strongest and most trending will survive 😉


You've got DRAMA. You are going to be a Whale!

To view or trade DRAMA go to steem-engine.com.

Purpose, use cases of DRAMA, please? (Nothing here: https://steemit.com/@dramatoken )

Great, it's so... I don't find word to say what I to say!

Posted using Partiko Android

@bluerobo is right, the pupose counts.
Like

!COFFEEA

Is COFFEEA all about a witness?

COFFEEA witnesses a natural growth of good taste ;)

coffeea Lucky you @deathcross here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness

I want some coffeea too ^^

Is COFFEEA all about a witness? I visited the homepage.

hi @deathcross plz always support me and i will support you too. following you @zainkhan97.

Dont beg for support. Just make good content and people will come :)

Posted using Partiko Android

how to use partiko? should i shear my posts on partiko too or what, i dont know much about partiko.My friends are earning from partiko but they dont help me how are they using it.

Partiko is an app you download through the google play store or apple store.
When you post/comment through the app you get points, which you can use when you post something :)

Posted using Partiko Android