STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 3/31/2018
I last reported the numbers in a post that covered through March 15, 2018.
Special thanks tho @arcange who runs these numbers everyday.
Now that we are at end of month, time to post the numbers again.
Here is the breakdown through March 15th:
3/15/2018
The total MVests here is 383,116.
On a percentage basis:
Whales 61.89%
Orcas 17.90%
Dolphins 11.35%
Minnows 5.65%
Red Fish 1.34%
Inactive 1.86%
3/31/2018
The total MVests here is 385,184.
On a percentage basis:
Whales 61.74%
Orcas 17.74%
Dolphins 11.44%
Minnows 5.84%
Red Fish 1.34%
Inactive 1.91%
The change over that time period is as such:
Whales +.29%
Orcas -.4%
Dolphins +1.3%
Minnows +3.95%
Red Fish -.07%
Inactive +3.34%
3/15/2018
3/31/2018
So what does this all tell us.
To start: THE SYSTEM IS WORKING AS IT IS DESIGNED!!!!
The rich are not getting richer. In fact, more of the pie is going to the smaller accounts.
On March 15th, the Whales and Orcas had 305,710 MVests (79.79% of the total); on March 31, 2018, 306,125 MVests (79.48% of the total)...a decrease of .39%.
The final thing that I wanted to mention is this number: 9,534.
That is the total number of people who are Minnow (around 500SP) or above.
My friends, that is called being an early adopter....
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Hey TM,
I think there is a small mis-calculation:
Whales went from: 3/15/2018 Whales 61.89%
to: 3/31/2018 Whales 61.74%
so that's change of: - 0.15% Overall reduction OR - 0.24% Whale Portion Reduction (Please explain why: +0.29%, I know you might be right here but can't see why from this post alone)
If Whale increasing this 2 week period, as you said below and also if Orca is increasing in the last report, how is the correct as designed?:
BTW.
Red Fish is Not Increasing.....This Is Alarming NO? We need to upvote more RedFish and Get More RedFish to participate in activities and post!
I don't agree with your calculation because you are calculating like Roger Ver, when he is talking about Bitcoin dominance and how it is falling. Of course that percentage of whales will be lower when we have many new accounts every day and of course that BTC dominance is lower every day when every day there is many new altcoins. I would like to see more equal number of all type of Steemit users.
It's not based on the number of accounts, @cicbar. It's based on the MVests per account. So you can have 10,000 new accounts in one day, but it's not goign to falsely push the Red Fish numbers up. They won't have many MVests, so the math is still correct.
An eco-system where you have equal number of each category doesn't really work. The only way to enforce that is to manually assign people to categories, and then artificially keep them there. "Nope, sorry, the dolphin pool is full. You have to stay a minnow." People would be even more upset about that. It's better to have a system where you're free to grow based on the work you put in with the tools you have available.
If I am alone on Steemit and I have 100MV, I hold 100% of Vests, and then if only 1 new user come with only 200 Vests, I will not have 100% of Vests, I will have little bit less than 100%...
That is correct, but for it to make a meaningful impact, there will actually have to be growth on the plankton and minnows' parts.
Data is subject to interpretation, so if you see it differently, that's fine with me. It's fun (for me at least) to look at it and see what can be deduced. Thanks for your thoughts.
We need to bring in many new active users to have successful Steemit. I hope that whale dominance will fall because at moment there is huge difference in Vests between whales and new user. If I could change something(and I can't), I would limit maximum number of Steem power that you can have. Yes I know that some users would have many accounts with max SP but you gonna have at least less too powerful accounts and those user would have to change accounts all the time...
You can disagree all you want but, no offense, you would be completely wrong.
The simple fact is the dominance of whales is decreasing...hence the distribution is evening out.
This is a trend that I went back to when I signed up in August and have been posting this throughout the quarter...it has held up each time.
I respect your opinion, and I agree that dominance is decreasing but we have different opinions why is that happening.
The next post will really show this point.
This is good shit and should prove to everyone that STEEM is here to stay, in ALL IN.
This really emphasizes the point over a 90 day basis.
https://steemit.com/steem/@taskmaster4450/steem-whales-are-losing-their-power-the-system-is-not-broken-quarterly-report-3-31-2018
Is this why the whales are running so many bots?
With the way some of these Steemit brothers are carrying on about bid-bots, you'd think it was already the end of Steemit :-/
People I respect, not just some random guys, either...
But this article helps clear things up. Your work here's invaluable.
The slow grind upwards continues to us Minnows! Concerning to see the large increase of inactive accounts. These are probably people who gave up after seeing the amount of dedication needed to gain influence on the platform. The community needs to create some type of onboarding tutorial for new accounts in order to set expectations appropriately. This would help decrease the amount of people not actively using the platform.
I think there already are a good number of tutorials to onboard the new guys. from stats, over 70% of the articles on steemit are about steemit itself, and while i frown at that, maybe it could help keep the people who would stay. I think it's just the motivation lacking for these people. they tryout these rules on paper about commenting and getting involved and yet no noticable change. they get discouraged and then quit. Others still, are just scam accounts or people who thought they could get rich quick on here. lol
Good point but the question is whether they are effective of showing how to really grow and setting expectations. I definitely agree with you that people come on thinking they will make tons of money immediately and they are quickly disappointed and leave. The reality is that we don't need those here anyway. However, to increase adoption, we need to ensure that users that will consume the content will at least stay to foster growth in the platform.
Always appreciate the rundown with this post. Keep them coming! They are a great resource to send people fretting over the whale's power.
Did you log into Mannabase over the past day or two? We have a send/receive function and transaction history now. (I'm unsure when it was released but it's exciting times).
That is very exciting news...yes I did see it.
My posting today is backlogged...I am putting together the quarterly version of this same post then I will do the Manna....
Lots of good things happening.
As always thanks for your support @calumam.
I've never heard of redfish before! I thought minnows were the smallest. Are they new?
No Minnows require roughly 500 SP.
Anything below that is a red fish.
Interesting. Ta!
There are changes happening! They're not big changes, but there is progress being made. It's not something that's talked about a lot on Steemit, so thanks for the bi-monthly updates to encourage us that it's happening. :)
Check out my newest post....it is a quarterly review.
I think you will see something a bit different on that one....the larger time frame, bigger changes.
I like how you call us red fish instead of the way steem plus classifies us as plankton 😀
Because I can never remember the name plankton so I call it red fish...
Basically this is encouraging, although TBH I see more stagnation (i.e. things staying more or less the same) here - given the relatively small decrease.
And crikey, there really aren't that many of us with any clout on here are there!
That is a two week interval.
The next post is going to be for the quarter.
I look forward to it! I Quarters are so much more informative for trends.