You are viewing a single comment's thread from:
RE: STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 6/30/2018
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.
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.