dippity drop, steemit.com drops below 1000 on alexa ranking + the obvious connection between steem price, post counts, post engagement and steem shilling
Hello steemians!
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Just a few months ago,Steemit.com crossed the 1000 mark on alexa ranking in the USA. Of cause at the time, the crypto market was very active, with so many people being interested in what bitcoin was, what it could do. The bitcoin futures market opened up investment opportunity for a whole host of people, as well as general acceptance in the East made everything sky rocket.
In summary, we were living the high life.
Many even were suggesting that we were heading to $50k bitcoin and so many news.
Of cause, we all know how all that turned out.
Steemit.com, on the other hand, has since steadily declined from its top 1000 position around December 27th 2017, and currently sits at around top 1600. 500 other websites having overtaken it in ranking.
This could signify a lost in interest on the site, and its somewhat supported by the statistics by @paulag, with help from @arcange.
Long story short, the whole Idea I can deduce from this is that people are dropping their steemit accounts because it doesn't pay as it used to.
One thing I have to explain to many newbies who came in Dec-Jan is that the steemit system isn't as easy as they think it is.
They were simply not around when the price of steem was $0.1. Often times I hear people complain that the system is bad, well I agree it could need a little fixing.
Many of the complain I hear however comes from those that came in during the boom. We had a record number of people entering steemit around Dec-Jan and it is most likely that it's these individuals that are abandoning their steemit accounts and leaving the platform until the next boom.
For those of us that have spent a year plus on the platform, it isn't a very big deal. The importance of community building, engagement and supporting one another far outweighs the urge to give up till the next boom season comes along.
Loss of steam
It can be heartbreaking seeing your potential post payout drop like a stone, but you really ought to have a goal when you on steemit.
Granted its a blogging platform with a twist, its a social media site that encourages interactions between individuals.
But many see it as a paying platform, I see it as a hybrid system, both a place for interaction and a place to get some funds to fund life-changing projects.
The loss in interest on steemit.com, also corresponds to different data across the platform.
In term of price-engagment ration, the higher the price of steem, the more people interact on the platform, the ower the price, the lower the interactions.
Shilling is also at a low, with not enough funds to sponsor these events, of cause not as much opportunities to promote steem will be available, which cycles down to less people knowing about steemit, which again leads to drop in traffic.
In this world, everything seems to be tied to price.
The more the rewards on your post, the more comments you have, the higher the price of steem, the more people notice steem, the more people we retain.
@paulag post https://steemit.com/utopian-io/@paulag/steemit-churn-rates-q1-2018 shows an interesting correlation between price and member retaining capacity.
Since the decline of price, steemit has had more users leaving the platform, than joining it.
Calculating this for the month of Oct, Nov, Dec would have shown a totally different graph, as more and more user were joining the platform.
All in all, it was fun just checking out how the various sites have gained or lost traffic so far.
I went ahead to check google trends to see if people were still talking about btc, among other charts.
I'm sure the following should be interesting to look out.
The top crypto site I could find was of cause coinmarketcap.com, as more and more people visit the site as a gateway to quickly knowing what the price of coins are.
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The global acceptance rate of cryptos has risen no doubt, far higher than it was in 2017, and continuing that yearly upward trend that we have been experiencing for over 8 years.
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If I made any errors in the write up, or statistical mistake, please point it out, thanks!
P.S: it is interesting to note that steemit has climbed up the global ranking, going from 1750, to 1561, no doubt due to the increase in numbers in places like africa and asia
Steemit dropping below 1000 on Alexa means nearly nothing. Such volatility is to be expected in the first years. I think in the next five years it'll be top ten (either Steemit or another site built on the Steemit blockchain.
thank you for the shout out. I was not aware there was also a drop on our rankings. That is very interesting. have resteemed for extra visibility
it is not as bad as it looks (I think) and perhaps this might be 'fun' for you. Alexa is about site traffic however, @Busy.org, @dlive @dtube etc all run on their own sites meaning that their numbers don't appear for Steemit.
busy: rank 30,588 > up - 13,791 positions
dlive: rank 67,895 > up - 212,923 positions
dtube: rank 16,098 > up - 4,185
I wonder what happens with all of the major ones combined.
There isn't enough volume in these movements to make up for the losses in traffic of steemit.com.
It's an exponential drop off in traffic numbers as the alexa rankings go higher.
I never though of that, thank you @tarazkp. Wow look at dlive go
yeah, not sure if it all adds up completely but it mush have somewhat of an effect. Remember also that dlive has taken comments off chain too which could also have an effect as it might count as a page open or something. Really not my area but something to consider :)
And this is why you need to activate the comments payout again - you'd be AT LEAST 10 cents better off :D
True, i would have dropped a full upvote :(
Yeah, like i said, its just fun watching how price correlates with everything in here, it isnt a statistics thats all right or wrong, just a few observations here and there.
Busy, dlive and dtube really started picking up this year, so its expected that they rise, especially with them delegations
Truly the plan behind Steemit is a really brilliant one, paying people to do the things they do on other social media platforms. Like you pointed out the boom attracted many people to Steemit but then, those were the guys who came in late. Most of the people who rushed in in December did that as a result of the boom of the Steem Backed Dollar.
The SBD really attracted several people to the platform. When the price of SBD was at $1, people were coming in but the influx wasn't as much as that seen in december. SBD at $12 gave people a reason to join the platform and stay. In certain countries where most of the people lived on less than $5 daily and were grateful if they could find a wage of $10, Steemit.com was a life saver. Spending 4 hours making a post with the hopes that upon payout, it can get even 0.5 SBD was worth it.
And then, there was the big dip which cut across every cryptocurrency and the crypto world is presently struggling as a result of that. About the reduced influx of people into Steemit and the way some accounts are being left for good, it's only by people who came in during the boom. while the crypto market isn't what it was in december or january, the ongoing process to peg the SBD back to a dollar per SBD isn't helping things either. To the newbie on Steemit, SBD is god of the steemit eco system. The steem power earned is just some money locked up in a fixed deposit account, while they require money now. To them, Steem can stay at $1 for all they care, as long as SBD fetches a good price on the market. I've had to explain to too many people about how steem favours the platform. Despite all the processes to push steem higher at the expense of the SBD, Steem hasn't exactly grown appreciably. Instead, the rise and fall of the market has been affecting it also.
However, when the price of SBD falls the content creators who are paid in SBD seven days after making a post are not compensated as much as they used to be. I have met certain users and requested their reason for not blogging on Steemit again and their reply has been the decline in SBD's price. Even when SBD was at $5, people were still okay with it but that isn't the case now.
In my own opinion, I think the price of SBD should be allowed to float and when it attains a certain position, we can expect the influx of more people into steemit. Afterall, people flooded in when the Steem was at $1.5 and SBD was at $9.
I'm not the most knowledgeable man in this matters and I would be open to corrections.
Hope to see SBD used in real life cases like paying for coffee. That may increase the demand and perhaps the price.
I also joined Steemit in December because of the craze and didn't drop out because I am mostly sharing my YT content from year ago. I also made a deal to exchange my SBD for USD at 1:10 with someone who hopes it gets back to 11$ or more by next December. So yeah, we both have the incentive to stick around, unlike most other newbies.
Thanks for sharing@destinysaid
This is what we should be focusing and not celebrating hitting the one million account.
How many people are active out of the one million created accounts that we are celebrating. We should be value conscious and not number conscious.
Thank you for this great insight, you did a lot of editing, so no error detected... Smile
You see we are living the high life as you’ve said, but so many are discouraged by the fall in the prize of steem, I came in January when the pay was sweet and sbd was at 7. It got really discouraging but I see steemit as the future and I embrace it . I’ve set my goals and those goals keeps me going
As for the mistake, well my eyes caught only one
For me, it's a great site that's inspired me to write more, and I find more value in that than in the Steem that I get. The Steem is a nice thing to get, but it's not my motivating factor for loving steemit.com. I plan to be here a long time.
Everything is indeed attached to price and value, someone in Europe said Steemit is a waste of time, the coin has no value compared to their currency.
One thing I have to explain to many newbies who came in Dec-Jan is that the steemit system isn't as easy as they think it is.
Very true..