Steemit is breaking ground and will be studied for generations!
Welcome to the 35th weekly installment of my series on Steemit income and growth!
Income on Steemit is generated by "investment" (the more Steem you have, the more you earn) and by "work" (earning Steem by contributing content that adds value). Already having invested my savings in Steem, I'm now working by uploading unique valuable content to the blockchain. My first goal is to increase my average weekly income to 15 Steem.
Calculating weekly income
Considering income from accounts that I own, that my wife owns, and accounts started as group projects with my funds (currently @drutter, @medikatie, @greatesteem, @hempy, @girlsofgreen, and @sativazeee), here's the running tally:
Week 01 - 0840 (+ ? ) Steem (+?%)
Week 02 - 0848 (+ 8 ) Steem (+0.95%)
Week 03 - 0862 (+14) Steem (+1.65%)
Week 04 - 0868 (+ 6 ) Steem (+0.70%)
Week 05 - 0876 (+ 8 ) Steem (+0.92%)
Week 06 - 0888 (+12) Steem (+1.37%)
Week 07 - 0914 (+26) Steem (+2.93%)
Week 08 - 0929 (+15) Steem (+1.64%)
Week 09 - 0936 (+ 7 ) Steem (+0.75%)
Week 10 - 0953 (+17) Steem (+1.82%)
Week 11 - 0960 (+ 7 ) Steem (+0.73%)
Week 12 - 0966 (+ 6 ) Steem (+0.63%)
Week 13 - 0973 (+ 7 ) Steem (+0.72%)
Week 14 - 0980 (+ 7 ) Steem (+0.72%)
Week 15 - 0986 (+ 6 ) Steem (+0.61%)
Week 16 - 0991 (+ 5 ) Steem (+0.51%)
Week 17 - 0996 (+ 5 ) Steem (+0.50%)
Week 18 - 1032 (+36) Steem (+3.61%)
Week 19 - 1040 (+ 8 ) Steem (+0.78%)
Week 20 - 1045 (+ 5 ) Steem (+0.48%)
Week 21 - 1051 (+ 6 ) Steem (+0.57%)
Week 22 - 1059 ( +8 ) Steem (+0.76%)
Week 23 - 1065 (+ 6 ) Steem (+0.56%)
Week 24 - 1073 (+ 8 ) Steem (+0.75%)
Week 25 - 1079 (+ 6 ) Steem (+0.56%)
Week 26 - 1091 (+12) Steem (+1.11%)
Week 27 - 1100 (+ 9 ) Steem (+0.82%)
Week 28 - 1105 (+ 5 ) Steem (+0.45%)
Week 29 - 1108 (+ 3 ) Steem (+0.27%)
Week 30 - 1119 (+11) Steem (+0.99%)
Week 31 - 1151 (+32) Steem (+2.86%)
Week 32 - 1159 (+ 8 ) Steem (+0.70%)
Week 33 - 1166 (+ 7 ) Steem (+0.60%)
Week 34 - 1172 (+ 6 ) Steem (+0.51%)
Week 35 - 1177 (+ 5 ) Steem (+0.42%)
Average weekly income (last 10 weeks): +9.8 Steem (+0.87%)
This week saw income fall to 5 Steem, which is just one third of our goal (15 Steem). It was the second worst week in recorded history, behind only the week of HardFork20.
These lackluster results are dragging down the running average, now to 0.87%. We can graph our data:
I still have all the Steem I've ever made here. For example, I haven't used any to buy upvotes, enter contests, buy virtual goods like Steemmonsters, or withdraw to a bank account. I bought my Steem early in 2018 (shortly before starting to keep these data), and every bit I earn is re-invested immediately (powered up). I also haven't received any funds (contest winnings, gifts, promotions, etc). Nobody has ever delegated to me and I've never delegated to anyone. Any funds in my posession that aren't actually mine (like those of M:A-P) aren't included in the data. I've stuck to these patterns strictly. In theory, this makes my data rare, because it isn't confounded with other variables.
And in theory, it should be showing exponential growth, if Steemit works as intended/advertised. That assumes my output is fairly consistent, I'm not doing a lot more or less posts than usual, I'm putting in roughly the same amount of effort, etc. And it negates the effects of luck (like a big whale coming along and making my year with one click). So there are limitations to the conclusions that can be drawn.
Still. Where's the compounding interest? Linear growth would make sense if this was a logarithmic chart, but it isn't.
Something's up with that. I'll continue to follow it with my own data, and continue to suggest other people keep data as well. It's hard to believe I'm the only person on Steemit who keeps track of their growth! One would think this place would be teeming with economic theorists. We're making history here, breaking ground, writing the future. People are going to be studying us. I can't believe they aren't already.
DRutter
My 2cents worth on why your growth has been linear and not exponential is based on the timeframe of your data. Basically the entire time covered with your data has seen a decline in steem's price. From what I can gather, a lot of activity on steem has dropped with the price. Many have drifted away as the price has dropped.
Your content is unique and your results are untainted as you say by the vote buying and other tactics many here (myself included) use to boost growth. Your content is excellent, but it is very niche. With less people active here, that is less potential voters for your content.
Long story short, I think that the compounding and inflation effects that should lead you to exponential growth have been negated by a declining audience (not related the quality of content, just less eyeballs to actually find and vote on it)
Posted using Partiko Android
That makes sense and I hadn't thought of some of it before. It does seem reasonable. I'll think about it more over the next week. Thanks :)
@drutter I have had a Few People ask me this Past Week if Steemit would Fail. I told them that I don't think that it would and if they are asking me that Right Now then why Would You not want to Purchase More STEEM. I saw the same Thinking when I was a stockbroker for 27 Years. People Never wanted to Buy when they saw Blood in the Streets. With STEEM maybe we Now have Blood in the Streets ?
If people are asking if Steemit will fail, that indicates we're near the bottom, or that Steemit really is going to fail. I don't think it will, because it has a functioning website, apps, and payment system. The price may crash even more but unless something breaks within the code, or the main supporters all suddenly vanish, I think the site and community and chain will continue. How far up it will go when cryptos recover is another discussion!
On the bright side, Steem is down to 57 cents, so it's cheap for anybody who wants to buy right now! : |
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STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard: