STEEM: Time For The "Community" To Step Up
This is a chart from @arcange's post yesterday showing the breaking down of the different categories on the STEEM blockchain.
https://steemit.com/pt/@arcange/steemit-statistics-20180627-pt
There are 1,062,060 accounts on this blockchain. This is what makes up the present community.
Most of us are familiar with the 80/20 rule. Basically this says that 20% of your actions will net you 80% of your results. Of course, the reverse is also true: 80% of your actions net 20% of the results.
This seems to be a good rule of thumb across most things analyzed. 20% of the people tend to do 80% of the work. By the same measure, 20% of the people do 80% of the complaining.
When looking at this account, something pops out. The Whales and Orcas are a total of 297 people. Of course, they are the ones demonized for all that is wrong with the STEEM blockchain .
Before going any further, it is true that are a few large accounts on here who are bad actors. They are bullies, greedy, and basically are a drag on the blockchain. Their actions are clear to all who payseven the slightest of attention. In fact, it is hard to miss.
That said, most of the larger accounts are actively interested in the success of the blockchain. To start, many of the are programmers with a coding background. That is why they were early adopters. They had the ability to see something here that the rest of us might have missed.
Many of the applications we use on this blockchain were created by them. The same is true for the different tools that we use to get information from the blockchain. They are the coders who are making a lot of this go.
Do you know the difference, aside from money, between these 297 accounts and the 929K that are inactive?
In a word: DEDICATION.
Those 297 accounts are dedicated to the STEEM blockchain. The people behind the inactive accounts simply were able to walk away. They had nothing invested in STEEM. While many can take this to mean money, there is a lot more to it. Invested means with one's time and emotion in addition to money. In fact, many who truly invested in STEEM yet did not put up any fiat. Those individuals are as invested as one who put up a boatload of money.
So who is the STEEM community? Which on the above chart constitute the STEEM community?
Of course, it is impossible to tell from a chart. Nevertheless, it is safe to say that the Whales, Orcas, and Dolphins are a dedicated bunch.
This leaves us with the Minnows and Planktons. And here is where it gets dicey.
How many of those groups are dedicated to the STEEM blockchain? How many are truly invested in STEEM either financially, emotionally, or with their time?
Here is the bottom line: It is time for the Minnows and Planktons to truly become a part of the STEEM community.
What that means is investing money, time and emotions into this blockchain. I know many in those groups already are doing that. They are on here each day doing their best to move this blockchain forward. I commend each of them for their efforts, dedication, and commitment.
However, there is a large percentage that are not. The above @arcange post reveals that we are around 50K active users. This is down about 10K from the high. Where did those people go? It seems they did not have the dedication to remain.
That is alright. Many were brought here under false pretenses by some of those on Facebook and YouTube espousing the myth of great riches overnight. Odds are a lot of those people were looking for the quick hit and when it wasn't here, they left.
Here is a post by Zappl yesterday which really summed it up.
The second reason is because we have been waiting on v.20 updates for a year plus. These updates would allow the spread of coins to go too thousands or millions of users, but the update isn't out. This would allow account creation to be much faster.
People are so concerned about whales and bots. Their power and rewards would be spread out to larger amount of users. This would force large stake holders to buy more steem to keep that influence, this increases the price for the asset.
This was my entire motivation for the idea behind the Minnow Uprising. Since we cannot change the sign up process, we can control how many posts are made on here. Zappl's point is that influence of the larger accounts cannot be maintained simply through the reward pool. When that gets diluted with thousands of more users, the only option is to buy more STEEM if they want to keep the same influence. If the numbers get into the millions of users, the buying won't be an option because it will be too costly.
The STEEM community is a lot more than 297 of the largest accounts. I know, they have all the STEEM Power. Without adding in any of the inactives, there are 400 times more of the smaller accounts than the largest 300.....400 times. Peel off just 10% of the inactives and get them involved, and there are 750 times more than the largest accounts. For Pete's sake, there is the community. That is where the power structure lies.
No matter how you break it down, the large accounts only have 2970 votes per day. Actually, we can deduct 10 off that since @ned does not vote. I am sure if we went through, there would be others.
In contract, just the Minnows and Planktons have 1,309, 470 votes per day. (both numbers at 100% voting power).
At 50% average, this is 2.6M votes or 5.2M at 25%.
Let us look at the chart from @arcange's post.
There are about 700K upvotes total for the entire blockchain.
This tells me there are a lot of votes that go ununsed. That is a lot of voting power, collectively, going to waste each day.
**And this is what I mean by it is time for the community to step up. **
This blockchain is a lot more than the 300 largest accounts. Those accounts are directed towards development and much of their SP is being delegated to applications that are emerging. Thus, it is incumbent upon the other categories to support the one below them. The Dolphins need to help out the minnows who, in turn, assist the Red Fish.
I resteemed this post yesterday. This summarizes the attitude we need (perhaps without the f**k it).
As you may know, I am a great fan of this platform. But recently, I have come to wonder what new users are getting out of being here and how we can do more to make them stay and be engaged.
I don't really have enough Steem Power to do it all on my own. But f*ck it, I will give it ago. Maybe others will join in.
This is really simple:
Plankton: if you're posting good quality posts and want recognition, use the #upvoteplankton tag
Everyone else: take a few minutes a day and see what is being posted with this tag and give out a few upvotes.
https://steemit.com/upvoteplankton/@kabir88/upvoteplankton-my-new-initiative
Total SP in @kabir88's account: 2,760 less 250 delegation.
Now this is what I am talking about. Here is someone taking the initiative and ownership of the blockchain. That is dedication to what we are trying to accomplish.
We only need 25K more people just like @kabir88.
It is time for the community to step up and take control of the blockchain. The power is in our hands.
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Five years from now a million people are going to tell themselves they'd have bought a tonne of $1 STEEM if only they'd known about it in mid 2018.
There'll be a million others who won't have the luxury of telling themselves that.
Yeah 6 months ago people were talking about how "lucky" others were to get into STEEM at a dollar.
I wonder if those same people are buying now.....
They probably won't, and they will whine again when the market rebounds. This story has unfolded millions of times since the Great Depression in 1929.
Nope, the will wait for the price to rise and buy at higher prices.
Human beings are not rational unfortunately (and fortunately, that's what makes us human).
That is true. I can say that in the fall, I bought in at between $.80 and $2.00.
This is a nice range for smaller accounts to really add to their holdings. A few hundred SP will go a long way to helping the individual and the platform.
Matt, you were so lucky to make 3000 STEEM off a single post when the price was 12c. Wish I'd been around then, woe is me.
What? The price is down to $1.20? Well screw this.
Wisdom is that thing that arrives just after you need it.
Ironically, with STEEM this low, it is a great time for those with a couple hundred STEEM to really add to their accounts, percentage-wise. For those who can afford it, and I know not all can, a few hundred dollars of STEEM goes a long way to making one a Minnow.
A few years from now, that few hundred dollars could be work a whole heck of a lot more.
You've always said 200 SP.
For those in the West at least, that's a week's wages right now.
Imagine setting yourself up for life with one week's pay packet.
Mike Novogratz has a total marketcap price target of $20T at some point.
Imagine, if that comes true, what that will mean for the tokens that are on blockchains with lots of activity.....
So yeah, I think 200 SP will have a ton of value in the future....
Will it be next week? Of course not. But we could well see numbers that really make people's head spin.
Nobody foresaw ETH to over $1200 either.
I agree. I bought in on ETH when it was only $8. Who could have predicted it would go to it’s ATH a little over a year later.
Let’s hope same happens to Steem.
And if it doesn’t... well, I’m here for 8 months now - with ups and downs - and already had loads of fun, learned a lot and met a truckload of awesome people.
If Steem would go to the moon, it would be a nice extra :0)
First off, great POST!
Gone are the days of heady rewards and a quick buck.
Now, we need people who are dedicated and here for the long haul. People who are adding to the blockchain, with outside projects, with their time and their energy.
IN SHORT: with dedication!
well done.
I have been amazed on how inactive smaller accounts have been. I recently passed 500 followers and thought it would be a good idea to give back to the community by giving away 5 SBD. I added requirements that would encourage quality over quantity like 2 months minimum on Steemit and under 100 SP. I have only gotten 3 participants to date! I have even browsed posts and made invitations with little success. I am looking forward to the #minnowuprising initiative so we can reverse this trend. I know many are discouraged about the prices of STEEM at the moment but this is actually a great opportunity to add to Steem Power for the future!
The activity is way down....across the board. Posts, comments, and upvotes.
It seems as the price goes down, activity follows.
I hope that the trend is reversed and many get involved. I would love to see thousands start to posting more and adding to the site. The reward pool is there for them. I want everyone to take advantage of it.
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This is a part of the post I'm giving myself a real digest on because of the conceptualization of concept in there............. Your commendation on those working assiduously on steemit day and night and with your encouragement is going a lot in me........... Though I got to see this community as something part of me now and doing all I could even when the power side and monetry part is not yet forthcoming as expected but that strong feelings about the community is a source of joy to me big time
The monetary side is often outside our control unless we have the funds to buy STEEM.
That said, the participating helps the entire community which, in turn, will help whatever holding each of us has.
As more people sign onto STEEM, we are going to see the activity increase. As Zappl said, it will not be until after HF20 is completed. But when it does happen, I think this outlook will be radically different for many on here.
I also sense there will be some regret.
cryptocurrencies are the future....
very informative post for us....thanks for sharing
nice data, resteemed!
I resteem your post to spread the word around!
Just going by your comments on my posts, I will say you are one of the more active ones on this site.
I am active every day because I believe in Steemit!
This is a really good article.
I have been here for 9 months now, and I definitely see the value of Steem beyond "just the money". I will definjtely check out the #upvoteplankton tag and show them some love. Thanks for this insight.