Perspective: on the growth of STEEM and Steemit.comsteemCreated with Sketch.

in steem •  3 years ago 

A couple quick charts to give perspective on STEEM and Steemit.com's usage growth.

The STEEM blockchain has been operating for 11 months, and the UI (in beta) for 8 months.


Bitcoin's transaction rate growth, 2009 - 2017

Here is a chart of daily BTC transactions, with ETH and STEEM markers for comparison.
(According to @stephenkendal's last report, we've been reaching 150K transactions lately.)

bts-txs.png

Source 1, 2

Reddit's growth, 2005 - 2012

This is not necessarily a fair comparison. The internet was certainly a different place in 2005. Things move faster now. Creating a centralized social network is magnitudes easier than a blockchain-based one. But the old models are showing their cracks.

reddit-growth.png


What's your take?

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I don't think Steemit is doing bad, but growth seems to have stalled now. The number of accounts is no guide as there are so many bots, but we know that there are a few thousand active users. That has not increased much recently. I know we are still in the beta. May need features to bring in the next wave

I have only been on for a day, but from what I can see, most of the topics that are trending are things related to steem and blockchain. This obviously wont attract the general public. There needs to be more content that is applicable to mainstream until they are on here, but they wont come unless it is here already.

I think the best chance is to cultivate the groups that are being censored elsewehere. This will bring controversial people, it will bring good and bad, but the platform will be dynamic and most importantly, free.

This thing has 20+ million in market cap. This shows there is way more potential in the minds of investors than it is living up to.

Welcome to the next big thing. I think there is a good variety of interests here. Lots of music and art is featured. It's really up to us all to post what will attract people. There will be an element of controversy, but it doesn't have to all be like that.

In long term view, the transactions chart is super important.
Remember, what long term goal is, social network is "just" a vehicle to get there.
https://steemit.com/steem/@dan/steemit-s-evil-plan-for-cryptocurrency-world-domination

The transaction number is impressive technically, though ultimately irrelevant given a social network would be expected to have much more transactions.

In 2017, there's ample opportunity for a disruptive social network to grab millions if not hundreds of millions of users, but Steemit simply hasn't gained any traction outside of the tiny crypto bubble. That said, we'll see where the posts submitted and active users graph stands at the end of 2017. Steemit Inc has committed to focus on driving user growth - it'll be interesting to see how successful the marketing efforts are.

You can say that again

Steem Apps from Steemtools.com

Good data and general comparison. Steemit is still young, but off to a good start. Success is not guaranteed, as their are many challenges ahead (both internal and external in nature) but this community definitely stands a chance at becoming something great on a global scale!

Let's keep an eye on the data and be diligent in identifying the risks and opportunities.

Thanks for the mention. I appreciate it. Stephen

I wonder about the risk involved cause it was up so high a few months ago. But being new to tbia xrypto world. Who knows what make these things grow. For sure steemit is one of my favorites. I hold about 15 percent of my crypto in steem. Thx for all the cool resteems on your page. What do you think about view.ly pre ico??

are there any sources/tools out there to find out how many active users there are now on steemit? i remember when it was just around 4,000 or so active weekly users, wonder what it is now?

I always check here: https://steemd.com/distribution
It appears we are currently looking at 8,813 accounts active over the last 7 days.

Several thousand of those "active users" are botnets and other automated voting accounts. Just keep that in mind. Active daily "authors" (according to steempunks.com) are around 800-850.

  ·  3 years ago (edited)

I don't think it is that simple. Who is active user? Only those who post? Or also those who upvote?
I'd say that most of that 4000 active users have at least some human action. I use bot but also read posts every day and upvote manualy (like this post :-).

I know for a fact that at least two users have used their 1000-2000+ automated trails in the past week. And I also know that many Streemian trails have accounts on them that are only voting.

And yes, the active users includes voting accounts, as far as I know. Unless that has recently changed.

they sound very irresponsible. I propose they be burned at the stake.

Ahhh, bots. Yes, I knew it was a good percentage, but I hadn't imagined it being that much. http://steempunks.com/dashboard does paint a different scenario.

Looks like about 3 years before reddit took off .
What is considered a transaction for Steem ?

What is considered a transaction for Steem ?

Any vote, I believe.

Or possibly any operation whatsoever. Transfer, Vote, Post, etc.

Of course. I was simply referring to the minimal action required to be considered a "transaction." Something as simple as a vote would fall into that category, if I'm not mistaken.

This post has been ranked within the top 50 most undervalued posts in the second half of Feb 16. We estimate that this post is undervalued by $7.14 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Feb 16 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

This chart doesn't lie, Steem price is going down.
Sem Título

Also consider the market cap and that steem is inflationary

  ·  3 years ago (edited)

Well, your chart doesn't exactly lie, but it doesn't show the whole truth either.
You show none of the price rise. lol. It looks like it just fell from the sky from day one!

Here, this chart doesn't lie either.
Bitcoin price decline from 11/30/13 - 8/30/15
(One year and Nine months of the Bitcoin price going down)

I like this comparison.

Maybe if the new folks had a modicum of weight in the system they would hang out.
What is the point of staying if the only splashes being made are by the whales?

I been told that minnow votes could be in creased by a factor of 1000 without much trouble.
When the minnows' votes count for something/anything they will be more likely to stay in our pond.

  1. It's difficult to tell the difference between minnows and bots; that said,
  2. delegated voting (in the next hardfork) will work to address this concern

What is delegated voting?
I'd think that putting those curators over at curie on it could put a dent in them (bots).

It allows users to delegate their SP to another user. Basically it allows an account to share its voting power without having to share its posting key.

So, we are getting secret guilds, now?

How about we just use the weight responsibly?
If you don't have time to vote it yourself, how about not voting?
I mean, I use steemvoter to populate a list of favorites that I read first, so i'm not averse to bots, per se.

Instead of having all the rules favor the wealthy why don't we just raise the bottom and let the folks decide?
I'm betting that will be more popular with the folks.
When they figure out that the whales are still gaming the system, in secret this time, they are gonna leave, and the platform's reputation is going to be damaged.
Imo.

What are secret guilds? This will all be on the blockchain and transparent. It allows large accounts to distribute their voting power to more users (minnows).

Secret guilds are the curators in a current guild getting voting power from the whales on the down low?
IF the whales don't have time to engage the platform like a regular user why are we making rules that favor them to the detriment of those that get in here and make the platform?
(How about we let people build their own voting power? edit)

Perhaps, institutionalized guilds would be more accurate.
Even if we know who is voting the weight, that weight, if the 'owner' isn't available, should sit idle, imo.
Just like the little guys,...

True!

@kus-knee (The Old Dog)

I feel like it's really obvious that if the comment nesting problem is fixed, as well as introducing maybe just a few genuine UI improvements, plus maybe a chat, or other "new feature", and then market the heck out of it, I bet Steemit would easily take off.

I think the size of Steemit is really nice right now. It's perfect for beta testing, right? Enough users to see how the system works, but not so much that if it crashes, loads of users will lose their income or go bankrupt.

All it needs is a little, or big push, and I think it'd become very robust and happily used.

With the next hardfork, the comment depth limit increases from 6 to 255.

Whaaaaat???

Really!? That's amazing!

Yessssss, that's a major upgrade to me, because I looooove having crazy discussions and debates in the comments. Heheh.

I don't know a lot about it, but it seems to me things are going fairly well for a venue that's still pretty new and in Beta. That said, it's probably human users that will be responsible for bringing in more human users from "outside the tiny crypto bubble." And maybe the vehicle to accomplish that-- let's call it "siphoning off the most 'alternative' 1% from Facebook" (about 18 million people)-- needs to be incentivized, at least minimally.

If I write an article here and include a link in places I usually share such things, and 500 sets of eyeballs find their way to Steemit to read it... do I get some SP? Or something else? At the very least, some form of non-paid affiliation tracking (every user's name is already IN the post URL-- easy to track) so I at least know who becomes a Steemit user so I can go welcome them and connect to them.

PEOPLE build networks of people...

Definitely agree with the hypothesis that Reddit is going down. I'm evidence of runoff from there, and so far I have nothing but positive feelings about Steemit's potential. It'll take some diligent and dedicated content people, but the community is definitely out there waiting for the perfect forum.