Liquid STEEM Report Sept 20, 2018
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 8.74% 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.
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For a breakdown of how Steemit Rewards system works:
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
What do you @socky think about steem prices that are getting lower and your predictions about steem prices at the end of the year?
I think Steemit Inc has a long way to go to get their issues fixed. Despite this, the price is primarily influenced by market pressure. Who dominates the market? Answer, Bitcoin. Either Bitcoin is affecting the market and the altcoins follow Bitcoin or Bitcoin is eating up the market and draining the altcoins.
What if this btc (bitcoin) goes down too much, will this worry for Steemit's future?
The difference between Bitcoin and STEEM is that STEEM has a use case. One can say that Bitcoin's use case is a storage of value, but you can say that for every cryptocurrency. The reality is that there are so many users on Steemit, that it can never truly go away.
The other difference is that Bitcoin has too small of a supply and it has too little creation. Bitcoin consumes a tremendous amount of capital just to keep it alive. I don't think it is sustainable.
STEEM on the other hand has an adequate supply. It has enough print rate to sustain serious user population growth, and it costs much less to support.
That means, steem still has the chance to jump in the future, right?
I hope Steemit can continue to grow. Because of the great hope I want to be able to grow here, if in the future Steemit can continue to grow. The steemians will certainly be able to make changes in their life.