RE: STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 5/31/2018
I would like to request that you would edit or find a way to remove this post. I don't think you are aware of this or I don't believe you would have posted it, so allow me a moment to explain why this post is very dangerous.
This graph operates on an account to account basis, meaning that the whale's who have many accounts will have sizeable portions of their influence in other accounts, which would then in the graph show up in wrong section, making things look far more balanced than they are.
If this graph was not showing information about accounts, and was instead showing it about individual steemit users, then we would no doubt see that a very small amount of users have control of the vast majority of the STEEM.
By publishing this post, you are leading people to believe that the distribution of STEEM on the network is working, when it no longer is. It has been reversed since the inception of bidbots and is now being concentrated in the wallets of a few users (albeit dispersed over many accounts and wallets).
I think at the moment there are many people who are trying to decide whether vote-selling should be accepted or not, and this is exactly the type of post that will lead them to decide that it should be accepted. But it should not, for every single time someone uses a bidbot, our ability to earn without using them is weakened, and the people who done this to us get more powerful and will have an even easier time exploiting us.
Thank you for the comment @son-of-satire.
To start, you are correct, this graph is on an account basis, not an ownership basis. If you know a way to find out the ownership basis, I would love to find out about that and write about it.
As for the data itself, it is showing exactly what I claim. I looked back as far as, I believe, March 2017 and every time period I looked at said the same thing. Smaller accounts are growing in number, they are getting a larger share of the pie, and are increasing in MVests. That is what the data shows. Who owns the accounts, I cannot say.
The complaints about bidbots is relatively recent...at least to the degree we are experiencing. If I looked at the data 15 months ago, why did it tell the same thing then.
In short, without proof that the only ones profiting are bidbots, it is speculation. Are there bidbots? Without a doubt. Are some larger users on here with multiple accounts? Again, no doubt about it. Are the only accounts growing in size bidbots? That is not for certain. When you look at the number of accounts that become minnows and dolphins over the past 6-9 months, to claim most of them are bidbots is a stretch I think.
Finally, I do not use bidbot but I cannot say that the people who do are wrong. I read an article about one member (wish I could remember who it was) said it was the only way for him to get recognition when he joined since it was nothing but whales and orcas then circle voting. That is his point of view and one that I am neither confirming nor denying as factual.
I can tell you there was a guy who joined around the same time I did, and he starting using bots within a month of coming on here. His account is almost 4 times as big as mine so it is evident he benefited. Did the offset what he paid for the votes? I do not know. From my perspective they do not seem worth it but many swear by them.
By the way, this individual still uses bots for his posts.
I think you are asking yourself the wrong questions. I did not state that no one other than bidbots are making profits. The question isn't about profits, but about the rate of distribution of STEEM across the network.
It should not take a degree in mathematics to understand that before bidbots, the STEEM was getting distributed across the network. After them, it is getting concentrated in the hands of a few users.
Yes, others may be making profits. But, profits do not safeguard this network from would be abusive tyrants unless we are making enough of them that the disparity between wealth starts to balance. But instead, we are all making the worst of us, the ones willing to hijack an entire network for their own selfish reason, the most poweful of us. By accepting bidbots and using them, we are electing and empowering oligarchs who have no regard for the community as a whole. Which is a stupid move for any community.
I like power and money being in the control of a SMARTER and more RESPONSIBLE minority, they hold longer and add more value and are more likely to bring MORE investment into steem if one of their other ventures succeeds more than steem, for example many of these whales have EOS and since EOS has performed much better than steem, theyve been able to buy more steempower with that EOS profit, I was one of those people who did that and was able to add another 1000+ SP to my stack thanks to my EOS profits. Now imagine what I did but on a MUCH bigger scale. Big whales need that steem to re invest with, the wealthy NEED that money, they will do more with it than the poor can!
I for one, SUPPORT the rich getting richer because it makes the poor get richer too
who said steem needs to be distributed equally?
ALSO I dunno, you cant just say that this chart is ainaccurate because some of the top accounts MIGHT be owned by the same people.
lets go through them, one by one, because theres not that many accounts at the top, the top 100 accounts could easily have us going through them, and we can obviously see that there are plenty of large whales, and it isn't just Ned or Dan or some other whales in charge of all the top 100 or 200 accounts , it IS distributed very nivcely and more and more dolphins are created everyday and minnows too (people buying 500SP at least)
and ya know what? the reward pool is over a million dollars a week! We have 49 Million steem on exchanges and 78 million liquid steem out of 269 million
so theres plenty of steem for new whales and dolphins to buy their stake and so even if we do have too much in the hand sof too few, it can be spread out more over time as we sell more steem to more investors
If we get 800,000 users to just buy and power up $100 dollars worth of steem
or 80,000 users to buy and power up $1000 worth of steem, thats $80 million dollars worth, approx enough to purchae the 49 million steem available on exchanges (and only approx 78 million is liquid out of 269 million total)
so if we all just buy and power up $100 worth of steem or if all of us ACTIVE users buy and power up $1000 worth of steem we will push steem up to $100 or even $1000 each and yes the marketcap will go to the trillions maybe even 5 trillion @elgeko is that too difficult for you to imagine? lol you cant see steem as important and as large as something like the US federal government with all their trillions? well i can :)