Steemit Power Down Data Analysis
I am curious on how frequent people are powering down their accounts. Since the value of Steem increased in terms of its market value, it has now grown from 2 USD to 3 USD - equivalent in the market. Thus, giving the crypto currency of the Steem holder to take advantage of this exchange value.
The market value of Steem has been fluctuating around 3 USD. It is now holding steady on the current value and there might be possibility that it will increase again parallel to the rise of Steem Dollar.
There is a connection of growth between Steem Dollar and Steem market values . The popularity and traffic of Steemit have a big role in regards to the market value. If Steemit becomes more known, big crypto investors will invest , and there will be more chances that Steem and Steem Dollar will increase as well.
Now , I have collected data from month of December 2017 and November 2017 and compared them.
So what is power down?
Power Down is a conversion of your Steem Power (SP) to Steem . Most people power down because they want to send some portion of their Steem to others or they are just withdrawing their Steem for local currency.
Note : The user has the option to stop the power down process.
Proof of Data
As of this gathering 2050 VEST = 1 STEEM
To be able to get the value of Steem Power(SP), the value of vesting_share was divided by 2050 which we will be using as a data reference for our analysis.
As we see in our SQL query the value of vesting shares of the user "jonimipidici" was divided by the conversion of Steem, which we can see now in history wallet marking the start of power down.
A. Scope of Data Gathered
Data extracted December 22 6:15 AM UTC Time
Extracted from steemsql by @arcange
Checking Power down details
Coverage for November and December 2017
Note : For December i only covered December 1 to 21, because we cannot maximize the data information during the time of extraction.
Why i have chosen these as my coverage?
This is the best time to get information since we have seen most activities around November and December. Members are starting to build up their account's Steem Power and the member base of Steemit did increase as well.
B. Accumulated amount of Powered Down Steem Power by Month per day
So how did i get these data ? I extracted the total amount of powered down steem power per day for both November 2017 and December 2017
Note : For December i only covered December 1 to 21, because we cannot maximize the data information during the time of extraction.
| Day | Month of November 2017 | Month of December 2017 |
|---|---|---|
| Day 1 | 233,281.2586 | 168,022.8853 |
| Day 2 | 1,232,156.0312 | 136,957.7249 |
| Day 3 | 913,409.3017 | 311,859.0428 |
| Day 4 | 146,818.7844 | 314,444.8088 |
| Day 5 | 414,338.0863 | 1,887,965.8423 |
| Day 6 | 90,210.3637 | 574,169.5761 |
| Day 7 | 371,553.0733 | 256,754.3154 |
| Day 8 | 267,216.903 | 377,891.0275 |
| Day 9 | 141,236.8287 | 293,469.9428 |
| Day 10 | 214,592.393 | 88,112.6343 |
| Day 11 | 55,205.4126 | 324,354.2331 |
| Day 12 | 284,174.6526 | 108,513.2062 |
| Day 13 | 77,889.355 | 262,946.8434 |
| Day 14 | 161,122.9614 | 181,171.3523 |
| Day 15 | 128,516.7661 | 147,495.0681 |
| Day 16 | 48,998.6618 | 147,424.2127 |
| Day 17 | 1,523,869.501 | 522,761.6094 |
| Day 18 | 162,110.3435 | 1,141,134.9313 |
| Day 19 | 425,871.1297 | 754,942.6516 |
| Day 20 | 203,884.0922 | 164,277.3722 |
| Day 21 | 170,161.0171 | 568,019.1307 |
| Day 22 | 138,870.6483 | |
| Day 23 | 133,705.44 | |
| Day 24 | 129,881.8344 | |
| Day 25 | 517,040.7793 | |
| Day 26 | 243,290.3294 | |
| Day 27 | 271,088.6372 | |
| Day 28 | 410,658.5863 | |
| Day 29 | 157,086.9587 | |
| Day 30 | 327,064.958 |
Referring to the above values, these are the total figures that are subject for power down.Each user has the option to stop the power down process anytime they want.They will receive converted Steem each week computing their total committed value on power down gauge under power down option in user's steemit wallet.
Each day the total amount of Steem Power being powered down differs, whenever there is a so-called whale user will power down to get profit then we would expect a bigger figures, which we can see on the above table values.
Analysis on Data Gathered
People doing power down should take caution if they can still earn after they have successfully done the process. Steem has great potential to increase its market value in long term, with those big values of steem power being initiated by users to power down , this could lower user's voting value and decrease potential earnings both current and long term.
B1. Graphical View
In the graphical view, we can see that there are overlapping amount of power down for both months of November and December. The spikes we see are caused by individuals that have done too much power down. They might be withdrawing some of Steem Power to get much of the interest that they have earned on the investments that they had put into the system. I am not certain yet if Power Down activities have a role on the effects of the market value for both Steem and Steem Dollar. However, there is a possibility since Steem Power is a form of Steem also.
B2. Bar Graph View
In the bar graph view the orange colored are November 2017 and while the yellow colored are December 2017. We have opted the data for December 22 and above since we are not getting their full data coverage as of the time of gathering.
As we can see in the graphical view, we have seen big amounts of powered down on the 3rd week of December and there are still possibility that it will increase more on last week of December.
Most people are doing profit taking on December as their year-end reward for their hard works and the interest that they are getting from their Steem Power investments.
C. Total Number of Power Down per Month per day
So how did i get these data ? I have extracted the count of power down and then categorized them in the months of November and December.
Note : For December i only covered December 1 to 21, because we cannot maximize the data information during the time of extraction.
| Day | Month of November 2017 | Month of December 2017 |
|---|---|---|
| Day 1 | 262 | 307 |
| Day 2 | 236 | 263 |
| Day 3 | 234 | 306 |
| Day 4 | 220 | 311 |
| Day 5 | 256 | 425 |
| Day 6 | 293 | 303 |
| Day 7 | 352 | 510 |
| Day 8 | 261 | 485 |
| Day 9 | 269 | 371 |
| Day 10 | 264 | 312 |
| Day 11 | 267 | 391 |
| Day 12 | 220 | 800 |
| Day 13 | 265 | 322 |
| Day 14 | 202 | 345 |
| Day 15 | 248 | 323 |
| Day 16 | 220 | 356 |
| Day 17 | 282 | 412 |
| Day 18 | 250 | 478 |
| Day 19 | 249 | 598 |
| Day 20 | 324 | 393 |
| Day 21 | 425 | 477 |
| Day 22 | 338 | |
| Day 23 | 253 | |
| Day 24 | 326 | |
| Day 25 | 245 | |
| Day 26 | 333 | |
| Day 27 | 473 | |
| Day 28 | 443 | |
| Day 29 | 288 | |
| Day 30 | 269 |
From the figures above, there are many people who are powering down during December as compared to November. This results to a price increase of Steem which is a really good opportunity to obtain a bigger interest. This is reasonable since this consumes lots of hard work and thus, they are deserving of the said rewards.
Analysis on Data Gathered
According to the number of people intiating power down process, there are little percentage that have executed the power down. People are still building up their steem power for long term and not just taking out what possible interest they will gain into it.
There's still a possibility that more people will proceed with powering down their Steem Power on later December based on the inflation of number of people doing power down.
C1. Graphical View
On the graphical view, we have seen that there are many people powering down on the month of December compared to November.
C2. Bar Graph View
On the bar graph view, November 2017 is colored orange while December 2017 is colored yellow. As we can see on the graph all of the days of December have surpassed November in daily comparison.
Most investors usually grabbing their opportunity to get more profit from Steem's current market value.Powering down is one of the option for big investor since they have enough Steem Power to power down, and still getting profit in the long run.Other small investors taking some profit as well.
D. Top 10 Powered Down for November 2017
So how did i get these data? I extracted the top 10 users with most power down value for November 2017.
Note : Figures below are the amount of Steem Power subject for power down. Which will be divided by 104 and the member will received weekly withdrawal on Steem depending on the divided amount of Steem Power)
| Steemit Member | Total Amount of Initiated Power Down (SP) |
|---|---|
| tamim | 1,136,099.3008 |
| engagement | 494,425.847 |
| transisto | 402,108.7546 |
| newsflash | 357,560.6594 |
| honeybeee | 291,583.6124 |
| thecyclist | 288,758.9472 |
| thisvsthis | 272,728.6196 |
| anwenbaumeister | 245,387.9007 |
| jaewoocho | 226,388.4945 |
| jrcornel | 196,636.5298 |
Analysis on Data Gathered
According to the figures , tamim has the big percentage comparing the top ranks of power down around 29.04% comparing to the other people that initiated their power down. As of his current Steem Power , he will be able to generate enough Steem Power from curation rewards. As for the other users they have around 10% to 6%.
Tamim tops the ranking with the most power-down value for the month of November 2017.
Note : 0 figures indicates the cancellation of power down.
tamim's Power Down Information
We have seen tamim's attempt power down at November 2 2017 with the amount of 568,049.6184 and 568,049.6823 Steem Power.
engagement's Power Down Information
We have seen engagement Power Down around November 17 2017 with the value of 494,425.847 Steem Power and was cancelled on November 24 2017.
transisto's Power Down Information
We have seen transisto Power Down around November 3 2017 with the value of 402,108.7546 Steem Power
newsflash's Power Down Information
We have seen newflash Power Down around November 3 2017 with the value of 357,560.6594 Steem Power
honeybeee's Power Down Information
We have seen honeybeee's Power Down around November 5 2017 with the value of 291,583.6124 Steem Power and was cancelled on November 29 2017
thecyclist's Power Down Information
We have seen thecyclist Power Down around November 17 2017 with the value of 288,758.9472 Steem Power
thisvsthis Power Down Information
We have seen thisvsthis Power Down around November 7 2017 with the value of 272,728.6196 Steem Power
anwenbaumeister's Power Down Information
We have seen anwenbaumeister many attempts of powering down and cancellation as well.
jaewoocho's Power Down Information
We have seen jaewoocho increasing it's power down on November 28 2017 with 198,179.7365 Steem Power
jrcornel's Power Down Information
We have seen jrcornel adjusting his/her power down.
E. Top 10 Powered Down for December 2017
So how did i get these data? I extracted the top 10 users with most power down value for December 2017.
Note : Figures below are the amount of Steem Power subject for power down. Which will be divided by 104 and the member will received weekly withdrawal on Steem depending on the divided amount of Steem Power)
| Steemit Member | Total Amount of Initiated Power Down (SP) |
|---|---|
| val-a | 1,501,352.7221 |
| pharesim | 518,554.8659 |
| arhag | 439,024.3902 |
| minority-report | 390,243.9024 |
| virus707 | 223,106.8935 |
| damarth | 217,584.5386 |
| hr1 | 200,515.2827 |
| fminerten | 196,865.2917 |
| hasoon | 155,350.6385 |
| vcelier | 135,981.265 |
Analysis on Data Gathered
val-a taking 37.74% comparing the top 10 power down rankers. Val-a has been inactive on both curating post as well as creating his own post. Recently at the start of his power down, he only aiming for bittrex transfers according to his history in wallet. This following actions just aim for interest gain from his Steem Power.
val-a tops the ranking with the most power-down value for the month of December 2017.
Note : 0 figures indicates the cancellation of power down.
val-a Power Down Information
We have seen val-a did power down around December 5 2017 with 1,501,352.7221 Steem Power
pharesim Power Down Information
We have seen pharesim did power down around December 18 2017 with 518,554.8659 Steem Power
arhag Power Down Information
We have seen arhag did power down around December 19 2017 with 439,024.3902 Steem Power
minority-report Power Down Information
We have seen minority-report did power down around December 6 2017 with 390,243.9024 Steem Power
virus707 Power Down Information
We have seen virus707 did power down around December 3 and 17 2017 with 120,849.5673 Steem Power and 102,257.3261 Steem Power
damarth Power Down Information
We have seen damarth did power down around December 21 2017 with 217,584.5386 Steem Power
hr1 Power Down Information
We have seen hr1 did power down around December 18 2017 with 200,515.2827 Steem Power
fminerten Power Down Information
We have seen fminerten did power down around December 5 2017 with 196,865.2917 Steem Power and then cancelled at December 21 2017
hasoon Power Down Information
We have seen hasoon did power down around December 8 2017 with 155,359.6385 Steem Power.
vcelier Power Down Information
We have seen vcelier did power down around December 17 2017 with 135,981.265 Steem Power.
Final Analysis :
December has been a profit taking for most people in any investment platform. We will be seeing more members doing some power down at last week of December 2017 for profit taking even if the market value of Steem went up or down.
Posted on Utopian.io - Rewarding Open Source Contributors
What will be the result of their powering down? does it mean there will have to start afresh?
no , you not start fresh , there are a just an amount of steem power will be deduction from time to time. @alumhydro
oh, OK.... thanks @robin-ho
I wouldn't power down now, I think it will get higher, powering down now would be a waste.
But to each their own.
yes it is true. @spiritualmax , we should be thinking on powering up than just powering down. building is the best thing to do. =)
Your contribution cannot be approved yet because it is not as informative as other contributions. See the Utopian Rules. Please edit your contribution and add try to improve the length and detail of your contribution (or add more images/mockups/screenshots), to reapply for approval.
Dear @robin-ho,
you're visualizing power-down data in extensive tables and also in graphs, but the analysis aspect is a bit on the short side. You are referring to Bitcoin/STEEM/SBD prices but there is no correlation of between those and the numbers you extracted. Why did you chose a two months time range, while there is data from around 20? Also, the top 10 powered down tables are a bit misleading, because these numbers mark the completion of a power-down phase over the course of 3 months, not the full amount in a single month as your table suggests.
You may edit your post here, as shown below:
You can contact us on Discord.
[utopian-moderator]
hi @crokkon , sorry i did not put more into details at first. But i have now revised my contribution . I have added details why did i choose the coverage and why did i opted 22 and over for December 2017. I have also added some charts and images for additional information and stating also about collected information about Steem Power Down, indicating that it is the amount of Steem Power that will be divided for 104 which will be paid weekly. I have revised my analysis as well. Please have time to review. Thank you very much.
Your contribution cannot be approved because it does not follow the Utopian Rules.
Dear @robin-ho,
as discussed on discord: the contribution is mainly data extraction, not analysis. The same data is presented in multiple ways. The overall time range is very small in order to draw meaningful conclusion.
Thank you for your understanding!
You can contact us on Discord.
[utopian-moderator]
ok.. i do understand.