Liquid STEEM Report June 22, 2018
This is a historical graph of both Total STEEM and Liquid STEEM supply
Liquid STEEM is the remaining STEEM that has not been converted into Steem Power. (Orange Line)
- When STEEM is liquid, it can be readily sold and purchased. When locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.
The linear line (dotted line) is a line fit to the Liquid STEEM to show if Liquid STEEM is going up or down over the entire time period.
I created this chart with data that I collected over the last few months.
Why is this graph important?
STEEM is created at a high rate. Currently 8.85% per year. Many Steemians have a concern about STEEM inflation with the high rate of new currency creation. This graph shows since February, more STEEM has been converted to SP than new STEEM creation. This means that even with the high rate of new STEEM creation, the available supply has decreased.
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For a breakdown of how Steemit Rewards system works:
https://steemit.com/steemit/@socky/steemit-rewards-breakdown-a-simplified-explanation-with-illustrations
For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-keys
As the unconverted steem (orange line) goes up, does that cause lower prices, or is that just correlation (but not causation)?
Since Bitcoin dominates the market, a reduction in Bitcoin creates pressure for altcoins. Right now supply and demand doesn't seem to have an affect on price. When more people use Steemit, the supply will get sucked up and then will cause a shift in price.
What we need is a spokesperson to tout the benefits of Steem and Steemit in a media interview. The most opportune time was last month when Zuckerberg was in the hot seat. I'm surprised about how many computer experts and programmers (e.g., my son), avid social media users, and even crypto enthusiasts who aren't aware of the Steemit platform or the potential of Steem as a cryptocurrency investment. We need exposure on cable news, financial telecommunications and publications, and print media.
Great point. Where other cryptocurrencies actively promote their currency, STEEM needs to do the same. I will consider it for a next project.
Great article!! Signed up for You, I will be glad to reciprocate!)
OK. Done.