STEEMIT Statistics - WEEK 2
This post is a weekly, evolving post, analysing Steem(it) by numbers and deducing trends of interest for this project moving forward. It has been an interesting week, with a number of 'high profile' users joining the Steemit community and a great article in the Huffington Post (link at the bottom) which should make next weeks numbers even more exciting and interesting
Bit of a mixed bag this week. The implementation of the Reputation System, along with an evolving community has resulted in some interesting statistic..
Let's start with some highlights for this week;
- Total Steem Supply increased by almost 5%:
For more information on this and why it's interesting, see my last post explaining Steem's dilution rate. Steem will be diluted by 343% over the following 365 days. - Top 10 Steem Power Holders % of Steem Control falls by over 8%:
For any doubters over claims that Steem is not being distributed away from the top account holders, this shows that Steem is moving away from these account holder in real terms. - 7 Day Active Users Fall by 23%:
This is the truest reflection of users on the Steemit platform. The total number of accounts include a lot of miners, and users taking advantage of the sign-on bonus. This number (IMO) has fallen as a direct result of the Reputation system (and general community action against bots) implemented this week. A number of 'Posting Bots' would have been turned off which I imagine has contributed to this fall. I expect to see a rebound this week due to factors pertaining to my introduction. - Week on Week Voting Growth over 66%:
This number represents a ever more engaged community - Number of Post fall by 25%:
I personally think this represents users targeting better quality, away from quantity of posts. It could also be a sign that users have moved towards curation over creation of content, as shown by the increased voting activity... EDIT: @wingz pointed out quiet rightly that a cap on the amount of posts per day was brought in this week (4 posts per day cap), this could have also had an impact on this number...
The Statistics Table:
You can see last weeks numbers as Week 1, and this weeks numbers as Week 2. The Data was captured around 3-4pm on both days (Saturday). The % Change Week on Week is the best reflection of how Steem(it) is evolving, and has changed over the relatively short period period of time.
Interesting to see the sizeable increase in Steem Dollars this week. This would explain why the Steem Dollar price came under a little pressure this week. It has however began to recover..
I will work on these Statistics over the coming week to get this information as useful and relevant as possible. Feel free to make suggestions of changes, or additions, and I will do my utmost to include them in the follow edition next Saturday.
Happy to discuss any of my findings with anyone interested.
Visual Sources
Weblink Sources
https://steemd.com
https://steemd.com/richlist
https://steemle.com/charts.php
https://steemit.com/market
https://coinmarketcap.com/currencies/steem/
https://coinmarketcap.com/currencies/steem-dollars/
(http://www.huffingtonpost.com/entry/why-blockchain-backed-social-network-steemit-could_us_57a47636e4b0c94bd3c9312f)
hey @hisnameisolllie let's get in contact, are u using steemit.chat . I would be happy to be of assistance to creata some meaningful infographics (infotainmant)
Hello @cass Yes, please do. Same user name on steemit.chat @hisnameisolllie
Look forward to hearing from you.
Max number of posts per day was capped at 4 which may have an influence on posting. Mainly it's the bots though, spamming posts on every article released, no point now so they've turned off.
Oh yes. Great point @wingz EDIT being made...EDIT: Done
Nice article @hisnameisolllie
Where most see decline, I see growth in quality. Just because there is less post does not mean we loss something, we actually gained a better more narrow list of content. It is hard to find good content already. I like it so far.
THANK YOU @hisnameisolllie for another great stats post this week. :D
:) @daf Thanks for your reply and kind words
Can you tell me why my account average value has been losing value for 2 weeks now? I know the price of steem is changing, but the price is consistent with above 2 dollars and yet my account keeps going down... :(
The price of Steem your account is using to work out the value of your holding is based on the average of the last 7 days median price (I believe). So, if the price has fallen in the last 7 days, your account will be lagging the real market, and thus appear to be falling in value.
To get a better reflection of your account value, work it out yourself (i.e. Steem Power x Current Price)..
Excellent Article!
However what do you mean by:
As a matter of fact about $75,000 'came into existence'[1] compared to the expected to come at that price levels in the last 7.8 days
[1] this most likely means about that much must have been requested for conversion
Thanks for the post @james-show.
Your links are not working for me...
According to data on steemd.com Steem Dollar supply increased by almost 300,000 this week.
My data is done by hand each week. With screen shots attached. You can check last weeks screen shot on my blog. Unless data on steemd.com is incorrect, my numbers are right.
My point about the reason prices may have fallen was very one dimension I admit, and should have stated it could have been a contributing factor to that outcome. The perception of increased supply is enough to trigger a sell off in all developed markets, however I can't say for sure that is what happened here...
Welcome a response if you disagree.
As I said there is an increase of SD... The point is - at that price level should result in 75,000 more Steem Dollars created, than the one that actually were created.[1]
[1] Steem dollars creted = current 7 day median price * (1/2 * 75% * 2 steem/sec) * 20 * 60 * 24
Ah, I see where you've got that from. We are still distribution mode, your numbers will be hot in just over a year from now..
At the moment Steem Power is being produced at 800 per second, 40 of that goes to Content and Curation Rewards. 75% (30) goes to Creators, 50% of that is paid in Steem Dollars, Price of Steem is $2 so $30 worth of Steem Dollar is created per minute, 302,400SBD per week (roughly)...
See here
https://steemit.com/steemit/@hisnameisolllie/steem-dilution-rate-explained-currently-much-higher-than-you-might-think
My numbers are exactly as yours except that I have, although steel rough, much closer numbers for the prices used (aka previous 7 dais median price) - for the last about 9 days -
3.199
2.798
2.746
2.664
2.420
2.368
2.333
2.240
2.160
@james-show I see your point now. I will look into this.
I wonder whether, because the payout algorithm is now on a 12hr cycle, with Steem price fluctuating, different levels of voting activity, different levels of posting activity, these variable mean that mine and your rough weekly calculation are never 100% accurate.
Each payout is under slightly different conditions..
The apparent discrepency is caused by the conversion of SBD through the convert steem$ option in the system, which i think was james's point.
This conversion actually destroys steem$. So a net gain of 75K when we expect the system to be producing 300K simply means that 225K were redeemed.
I think the point james was trying to make is that its not necessarily accurate to say "75K were created" when thats a net gain. In the same sense as it would be inaccurate to take a situation where 10 babies were born, 5 old people died and say "5 people were created today"
Great post! One proposal:
Data from https://steemd.com/distribution should be represented graphically changing with time. I mean total distribution, not last 24h.
BTW, check out my poll here.
Exactly. Thanks for your post @everythink That is why I'm doing this weekly. Don't have enough data just yet, but I will have, in say, 5-6 weeks time :)
It's always nice to see the theory of supply and demand in reflected in real life markets.
The total supply of liquid STEEM is up by 17% so the price went down by 17%.
Also I was looking earlier for the number of how much % is held in SP, so seems like it's close to 97% which is good.
I think your analysis of the reasons for changes is numbers is spot on. Also, growth is always something that occurs in fits and starts. The outlook is great, but we shouldn't be frustrated by the lulls... think of them as the calm before the storm.
Thanks for posting @bacchist. Glad you think so, you know what is going on, so i would listen if you disagreed. Good to hear we are on the same page, and completely agree with your comments on early stage growth. I think the quality of content creators is increasing, and that will hit some kind of mini critical mass soon...
Even if theyre not turned off, i don't think they count as active users. That is to say their "hidden" comments dont count as activity for the purpose of the metric. IN the same vein, individuals with their votes and posts greyed out also dont count. I think.
It is interesting that the big exchanges seem to be accruing a lot of steem - is this because people deposit on the exchanges and then leave it there to trade back and forth?
I'd hate for the bulk of steem to be held by exchanges rather than individuals
@teatree I would imagine the exchanges are using their 'free float' of customer funds to power up and share in the rewards. Similar to when stock brokers lend customer shares out to 'short sellers' for a fixed period of time, in exchange for a fee...
EDIT: I must have been looking at the wrong column. Neither Poloniex or Bittrex have large Steem Power holdings. Just a big account of Steem which represents client funds...
Thanks @smooth
they really cant (shouldnt) powerup as it locks it up with a 2 year payout, but customers can withdraw the STEEM at any time. exchanges better have all their STEEM as STEEM!
The blockchain is really transparent. You can see customer funds @bittrex and @poloniex. It isn't being powered up.
Exchanges do get to keep the interest generated on customers' SBD funds , unless they decide to credit it to customer accounts. None has done that afaik.
No exchanges offer lending of liquid STEEM for shorting yet but I'm sure that will come in time.
@jl777 see my EDIT in my post. Neither have powered down. I was looking at their Steem holding (representing client funds) not their MV representing Steem Power where Bittrex and Poloniex are nowhere to be seen...
Correct @teatree These accounts are client funds pooled into the exchanges account. I made a mistake in my previous reply.
Steemit outsiders can develop very quickly, one day steemit be number one
11 reputation score, @xapo ? I thought it only went up to 10?? Or am I missing something?
@wadepaterson Your right, 10 is the max. I believe only @stellabelle has a 9+...
Must have been a glitch...
Good catch
For a brief period, a score of "1" incorrectly displayed as "11"
I know to the right or left of it How can