Liquid STEEM Report Nov 27, 2018
Just look at that STEEM supply reversal! That means people are buying and powering up faster than SBD can be converted to STEEM.
This is a historical graph of both Total STEEM and Liquid STEEM supply
(Note) There are two different scales on this graph. For full scale, see graph below.
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 STEEM is locked away in SP, it is not liquid, It takes a significant amount of time to convert it back to a liquid form.
This is a graph of the same data. The data of this graph was plotted on the same scale to show the massive difference between Liquid STEEM and STEEM stored in SP
I created these charts with data that I collected over the last few months.
Why are these graphs important?
STEEM is created at a high rate. Currently 8.68% per year. Many Steemians have a concern about STEEM inflation with the high rate of new currency creation. These graphs show that there is a limited supply of STEEM. Inflation is being offset by the rate of STEEM converted to Non-Liquid STEEM.
I hope you enjoyed reading my Blog. Please remember to Upvote, Resteem, and Follow. Thank you.
---------------------------------------
For a breakdown of how Steemit Rewards system works:
https://steemit.com/steemit/@socky/simple-steemit-rewards-breakdown-how-it-works-since-hf20
For a breakdown of Steemit Keys:
https://steemit.com/life/@socky/do-you-understand-your-steemit-keys
For a breakdown of why Steem Power is Important:
https://steemit.com/steemit/@socky/why-is-steem-power-important-beginners-read
How to improve STEEM payment system:
This is an excellent analysis @socky and valuable information to our Steemit community and signals BUY opportunity!
Thank you @senseicat. There are definitely people out there that have taken this current market swing as a buy signal. They are even taking that one step further and investing into SP at a staggering pace.
At this point, liquid steem is probably yellow, since it seems to be pissing all over me.
KIDDING. :)
I get it and know the frustration.
There is a bright side to the stream of yellow.
The last two dips in the liquid STEEM supply were caused by huge power ups by single entities to fund a project. They are not a sign of growth. This latest buy up is caused by many people. This is a good sign that people are adopting and investing into the STEEM concept. The power up is much larger than it appears on the chart. Currently there is a huge SBD conversion taking place creating new STEEM supply. The rate of powering up has overtaken the rate of new STEEM creation.
To put it simply, if the blue line were to remain linear like it should be, the orange line would have dropped dramatically.
I'm in it for the long haul.
That's awesome @teamawesome
To me, this dip signals a change in the air. People are buying Steem while it's low. Think we could seea swing for the better soon?
What I would love to see is people dumping their BTC for STEEM/SP. BTC is way too expensive to mine to be sustainable. STEEM is much better and doesn't cost anyway near what Bitcoin costs and is way more scalable. Transactions are free to the users. Bitcoin creates a vacuum sucking up millions of dollars of new investment each day just to keep the currency alive.
If STEEM had millions of dollars of new investment every day, STEEM will quickly clime to the top since the money won't be wasted on mining. I'm waiting for Bitcoiners to see the light.
And now the hah rate has taken a done for BTC. Dunno if you saw this, but apparently lots of miners are selling their rigs because it's simply not sustainable.
Imagine what it costs to run these giant warehouses of top of the line computers sucking 1,300+ watts or better each. The cost of constantly replacing those $3,000 a piece computers just to keep the hash rate up is staggering. The problem is that all those individuals that were mining are no longer mining. Larger mining operations shutting down means that the mining power goes to the remaining few mining companies which further centralizes Bitcoin. That is extremely dangerous for Bitcoin owners as those companies can change Bitcoin ledger at will since they have majority control of the hash power. If they want they can perform double spends all day long. What is worse is that they just might do it to keep their company alive.
Sell out while you can...
Thanks a lot @socky for the information than will lead to me telling my friends to start powering up XD Good work!
Thanks. I'm hoping for STEEM success.
Keep up the good work and everything will be fine in the end.
@socky is the proposal to help my friends open an account open? I have a friend of a friend that want´s to join.
Yes, I can create accounts for you. No problem. Give me a username not already taken. I will create it and send you the the temporary Master Key over Steem.chat
You will need to change the master key when you or your friend logs into the account.
The account wants to be named by ( @5essence ). Thanks very much. And by the way i may have a other person, is that a problem?
I tried to create that user name, but it returns an error. Apparently it needs to start with a letter and not a number.
the first character must be a-z (lower case), the last character can be a-z or 0-9 (lower case letter or number) and second and up to second last can be a-z, 0-9, '-' (hyphen), and "."(period). The maximum length is 16, and the minimum is 3 characters.
I will definitely create more accounts when you need them.
Roger.
Excellent analysis @socky. Bought and Powered UP already 😎
Posted using Partiko Android
Good deal!
I just hope steem would tank further cause God damn im in shopping spree mode.
Don't wanna be left in the dark when it bottoms out and price starts soaring..
Thanks for the Charts.. Mind sharing which tool you used to gather the data?
I'm the tool. Hahaha
I simply go to the STEEM Block Explorer and collect the data daily. It's crude, but as long as I gather the data daily, I can populate a spreadsheet and generate the charts.
That's hella manual!! Respect!
Posted using Partiko Android