STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 1/31/19
I last reported the numbers in a post that covered through December 31, 2018.
Each month I monitor what is going on with new accounts and the amount of MVests in each category. I do this to determine what trends are taking place.
Now that we are at end of month, time to post the numbers again.
I want to thank @arcange for the work done each day compiling these numbers and making the charts.
We have 3 months worth of data for analysis purposes to see how the 90 trend might be.
The first chart is from August of 2017, the month I started on Steem. It is placed here to provide some contrast to see how things are changing over a longer period of time.
Here is the breakdown.
8/1/2017
The total MVests here is 336,932.
On a percentage basis:
Whales 75.44%
Orcas 14.86%
Dolphins 7.16%
Minnows 2.14%
Red Fish .01%
Inactive .40%
11/30/2018
The total MVests here is 405,801
On a percentage basis:
Whales 57.96%
Orcas 19.30%
Dolphins 12.82%
Minnows 6.54%
Red Fish 1.13%
Inactive 2.26%
12/31/2018
The total MVests here is 412,175
On a percentage basis:
Whales 57.13%
Orcas 20.10%
Dolphins 12.95%
Minnows 6.47%
Red Fish 1.06%
Inactive 2.29%
The change over that time period is as such:
Whales -1.43%
Orcas +4.14%
Dolphins +1.01%
Minnows -1.07%
Red Fish -6.19%
Inactive +1.32%
1/31/2019
The total MVests here is 404,463.
On a percentage basis:
Whales 55.82%
Orcas 20.79%
Dolphins 13.29%
Minnows 6.67%
Red Fish 1.08%
Inactive 2.34%
The change over that time period is as such:
Whales -1.27%
Orcas +3.43%
Dolphins +2.62%
Minnows +3.09%
Red Fish +1.88%
Inactive +2.18%
Latest charts found in this post:
https://busy.org/@arcange/steem-statistics-20190131-en
So what does this all tell us?
To start: The system is working as designed.
The Whales are losing power.
This month, we obviously saw Steemit Inc start to power down. Many took this as a negative but I look at it through the lens of these numbers. Every group got more powerful because of this. Do not forget, it is only SP that is factored in to voting power for posts and Witnesses.
Some will say that STEEM is still in the hands of Steemit Inc. That is true but it is not in the system. We cannot focus upon what is on the exchanges. There could be those holding hundreds of thousands of STEEM in wallets on exchanges. Do we factor them in also. Or how about the Bitcoin millionaire who could become a Whale in a few minutes?
The only think that determines stake on the blockchain is Steem Power.
There are now 11,461 accounts who qualify as either Dolphin or Minnow. It was only a few months back when the total accounts above the approximate 500 SP (level to be a Minnow) was under 10K.
On November 30, 2018, the Whales and Orcas had 313,518 MVests (77.25% of the total); on December 31, 2018, 318,339 MVests (77.23% of the total)...a decrease of .025%....On January 31, 2019, 309,865 MVests (76.61% of the total)...an decrease of .8%.
It is important to remember these numbers are owned SP. This is not delegated. Since @steemhunt came into being, a lot of SP was delegated so it is equivalent to a Whale yet does not register as such. This is vital since that SP is used to upvote content by the members who post on that application. Ergo, we have a Whale (equivalent) upvoting smaller accounts.
In conclusion, the numbers are changing over time. It might not be happening as fast as some like but it is taking place. Continual working of the system does yield dividends.
If you found this article informative, please give an upvote and resteem.
Hey, @taskmaster4450.
It's good to see the ongoing distribution of MVests. I'm glad you're pointing it out. You're the only one I see doing it. If anything, people complain about concentrated whale power rather than observe how it's diminishing.
I didn't see anyone else question this yet, (so if they did, I apologize for the duplication) but when I look at the math from the first whale percentage back when you started to November of last year, you have it as a 0.13% gain, even though it starts at 75.44% and drops to 57.96%. I would think that would be a -17.48%, right?
No worries if I'm reading this wrong. I've been known to do that. :)
Sorry for the confusion. That is misleading the way I posted it. I actually should delete those changes. I was copy/pasting that section. What the .13% gain reflects is the change from October 2018, not the original chart.
You are correct, in about 18 months, the Whales SP dropped almost 17.5%.
This is a nice trend to see. I hope that things will keep going in this way and we see an improvement in the overall market.
I started watching this around the beginning of 2018. I do not recall when I started posting these reports but the trend has been consistent throughout. There is a consistent, slow shift in the distribution of SP over time.
Thanks for this report!
Im looking forward to an active and big middle-class!
Greets
Posted using Partiko Android
I am also. It is growing @luegenbaron. It is appearing slowly but it is coming.
Each month, the numbers look a little better. Hopefully some of the smaller accounts continue to take advantage of the low price of STEEM and add to their stakes. It is an opportune time in my opinion.
I am watching the price to see an entry point to add some more myself.
Same!
Planning on doing my first real investition.. :)
Just don't know how to hit the right point.
There is no right point. It is impossible to target it exactly.
I will tell you a method that a friend of mine who is a very successful stock investor uses.
He uses a 1/3 approach when he sees a stock move into the range where he is interested. He knows he is not going to peg the bottom so he doesnt even try.
He simply breaks his buying up into thirds. When it enters his range, he will buy 1/3. Then if the stock moves down, he will buy another third. And then he will do the same with the final third.
If it moves the other way after the first buy, he does the same on the way up. Thus he hit the bottom on 1/3 his buy, and go in as the reversal took place.
I already have a couple buy in this range so I can afford to look for a bit better pricing. I will be patient with it. That said, anything under 30 cents is attractive and eye catching if one is knowledgeable about what is taking place here.
Yea.. Im doing something similar already.
Was powering down and selling all my Liquid steem at peeks.
Then buying in again at lows, trying to multiple my stake.
And I made 100€ out of 50€.. Worth in steem.
But I need to drive to austria soon to put some more Euros into a btc atm.. ;)
And then I was planning on doing exactly what you said.
I had the chance to buy at 0,22.
But me, dumb student, feared that it would also drop under 0.15
And with my little cash it makes a biig difference where I buy in..
Seems as the trend is clear and whales will ultimately have less than 50% which seems to be a key threshold when you consider it at the speed it has occurred. I think it is truly encouraging!
Posted using Partiko iOS
Very true. I am looking forward to the 50% point too. We are getting closer. Steemit Inc, if they keep poewring down for a couple months could put it there and radically change the landscape of the stake on the blockchain.
I always dream how I wish I can become a whale
Thank you so much for participating the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
Great post. Things are looking up. What's the amount of Steem Power to become a Dolphin? 5k SP? I became a Minnow at the end of 2018 and have a goal of being a Dolphin by end of this year.
Yeppers.
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