Liquid STEEM Report Sept 9, 2018

in steemit •  3 months ago

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 8.75% 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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isnt steem currently being created at a higher rate due to the SBD debt ratio being off?

Hopefully it slows down with Hard Fork 20 September 25th


Currently, there is no SBD being created. That might change after hard fork 20 depending on the STEEM market cap. There could be SBD to STEEM conversions taking place, but I would expect the conversions to be infinitely small in comparison to daily STEEM creation. Most people are holding SBD as a hedge while the market is down.

This is why I like what @steem-UA is doing. Incentivizing small accounts to power up. I’d even say thats why we had the recent drop looking at your chart. Is there anywhere I can view this?

Posted using Partiko iOS


It took me a while to discover who that 100K Power Up was. It was @misterdelegation. Even though there has been considerable power down by whales (@ned) for example, there is a significant amount of Power-Up to counter the huge power downs. Overall, I would estimate that smaller accounts along with Upvote services are benefiting the most. I am not a fan of upvote services. The people behind them will eventually be outcasted as users learn to hate what they have done to Steemit. There is no place that I have found to get historical chart for liquid STEEM which is why I have been collecting data daily to populate my chart.

Why now is zero sbd


It is because each SBD in circulation has a guarantee to be paid in STEEM when you cash in the SBD. Each SBD is worth $1.00 US worth of STEEM. When the STEEM price is low, then paying for SBD would be difficult. To prevent too much SBD from getting created when price is low, the blockchain is programmed to limit SBD creation or stop SBD creation. Right now, there is no SBD being created. When you choose 50/50 rewards you get STEEM instead of SBD since there is no SBD being created.