STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 6/30/2018
Today is the start of the #minnowuprising. These are the numbers that we will work from in comparison by month end. I will do periodic updates throughout the month so see how we are doing.
I last reported the numbers in a post that covered through April 30, 2018.
Special thanks to @arcange who runs these numbers everyday.
Now that we are at end of month, time to post the numbers again.
We have 3 months worth of data for analysis purposes to see how the 90 trend might be.
Here is the breakdown.
4/30/2018
The total MVests here is 387,333.
On a percentage basis:
Whales 61.74%
Orcas 17.47%
Dolphins 11.49%
Minnows 5.96%
Red Fish 1.34%
Inactive 1.98%
5/31/2018
The total MVests here is 387,915.
On a percentage basis:
Whales 61.82%
Orcas 16.93%
Dolphins 11.83%
Minnows 6.02%
Red Fish 1.37%
Inactive 2.02%
The change over that time period is as such:
Whales +.13%
Orcas -3.09%
Dolphins +2.96%
Minnows +1.01%
Red Fish +2.24%
Inactive +2.02%
6/30/2018
The total MVests here is 389,911.
On a percentage basis:
Whales 61.44%
Orcas 16.72%
Dolphins 12.24%
Minnows 6.17%
Red Fish 1.31%
Inactive 2.10%
The change over that time period is as such:
Whales -.01%
Orcas -.73%
Dolphins +3.98%
Minnows +2.99%
Red Fish -3.56%
Inactive +4.64%
4/30/2018
5/31/2018
6/30/2018
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 April 30, 2018, the Whales and Orcas had 306,820 MVests (79.21% of the total); on May 31, 2018, 305,493 MVests (78.75% of the total)...a decrease of .58%....On June 30, 2018, 304,784 MVests (78.17% of the total)...a decrease of .77%.
Another critical component is that over the last 60 days, the number of MVests for Whales/Orcas decreased by 2,826 while the Dolphins/Minnows increased 4,184. The two middle categories not only gained in terms of percentage, they actually picked up more in terms of total SP.
The final thing that I wanted to mention is this number: 10,333.
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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Are whale Losing power or giving it up.
A decrease in SP is a loss of power.
An increase in SP at a rate slower than another category is a loss of power.
I am not sure why you are trying to decipher it any other way.
Well wording is very important here. When someone loses something that means they still wanted ownership and someone else now has it.
When someone gives up owner ship that means they no long wanted it.
The latter is important to take into account because it could be a early sign of a exodus.
Hop this clears up my statement. Though it was pretty clear to begin with.
I thought it was very clear
Actually, there are other definitions of lose.
ex: to lose a fortune at the gaming table.
http://www.dictionary.com/browse/lose?s=t
So, if you want to be that way, no your use of the word was not clear since there are 9 definitions.
You are right it could be...or it could be a sign of funding other projects...or taking profits....or diversifying into other assets....
I would guess the whales are powering down.
Let the wealth distribution continue... thanks
It will be very exciting to see is the minnouprising project can have an effect on these number in a month from now. It's great to see that the whales are loosing power, but I would love to see it happen a lot faster than the current rate.
There are already numerous minnow projects. So why do you think this one could have a bigger impact?
I have no idea if this project will have a big impact or not. I still like the projects who encourage minnows to get together and create content, which is an overall benefit to the platform as a whole.
Okay my friend. I will be upvoting some minnows this month. I'll be curious to see if we can help to increase the growth and retention rate of the smaller but not tiny accounts.
Really?
This looks very promising for Steemit!
Yeah! The system works, that's good news.
Do we know if whales are just selling their steem and perhaps that has accounted for much of the price drop?
If they are selling they lose barely any power while earning quite a something. If they quit selling they might gain more power in 1 month as they lose in a few months. To bad no one analyzed this so far.
Alternate explanation: some of the whales are cashing out. That's the only way for Vests to decrease, and we know it's happening anyway. That's still good for broadening stake but it's not systematically good for broadening stake. To judge that we'd want to see numbers normalized for buyins and powerdowns.
Isn't the member of Steem per MVests bit changing during the time?
Yes, SP per MVest increases slowly. Vests themselves only change by powering up (including through rewards) or powering down.
Isnt powering down and powering up part of the system?
If 1,000 Minnows and Planktons bought 500 SP apiece, wouldnt that translate into their influence on the STEEM blockchain?
According to your logic, we should pull out all STEEM purchased by people to see where their accounts truly are.
If I gave you $10 and you bought SP with it, and I gave a rich guy $100,000 and he bought a Lamborghini, would you say I was distributing wealth more to the low end because you had 6 SP and he didn't have any? If the system gives whales a whole bunch of money and they then cash it out, it's still giving whales a whole bunch of money.
Yes that is true but once money exits as SP, it is no longer any influence on the STEEM blockhcain.
SP is tied to VP.
If a Orca takes 100K SP and powers down, he is no longer an Orca...he is a dolphin with 25K SP...the other 100K gives him no influence.
upvote for me please? https://steemit.com/news/@bible.com/6h36cq
I think it's not like a same day of data chart so it market man. what is you think man ?