How Much Steem Power for Influence?
Being fairly new to steemit and steem, I just completed an excellent video course series by @jerrybanfield which has helped me learn a lot about this platform in a relatively short period of time.
However, this series is now a few months old, and some of the statistics that Jerry was using in his videos are now outdated. In particular, Jerry was talking quite a bit about how much steem power was necessary to achieve various thresholds in influence.
In the videos, he was using https://steemd.com/distribution for quick reference of these numbers, however this page has now been "Down for Maintenance" for several days. So what I decided to do is to browse the rankings by steem power on http://steemwhales.com and put together a graph representing this information.
I put approximately 30 minutes of work into collecting the data and making this graph. I am posting it here in hopes that others find value in it. If you find this work valuable, I would be very grateful if you showed your appreciation by upvoting and/or resteeming it.
I'm super new and am still working on getting some traction here, so every little bit helps. Thanks in advance!
could you explain the graph ? the top 1% has SP3000 and more ?
Hi @iliasdiamantis! Yes- it is as you suggested.
Here is the data set. Please note, these numbers are rounded for simplicity, and are subject to change at any time.
good. nice job @redchartreuse .
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STOP@redchartreuse, I'm still pretty new here, too, and I don't really understand what your graph means. Still, I think that you did a great service by updating @jerrybanfield data. I have upvoted and followed you just to help you out. Resteemed, too! Cheers!
Thanks for the upvote and resteem, @mitneb. I really appreciate it!
Let me try to explain this in more detail, as explaining it helps me to understand better.
Steem power is essentially "committed" steem which is used to demonstrate a "proof of stake" in the community. The idea is that malicious users could manipulate the system if they were allowed to have a large influence in upvoting, without having a definite stake in the system as a whole.
By committing an amount of steem to steem power, a user can demonstrate that they intend that their actions on the steemit platform benefit the community as a whole, rather than just themselves.
For this reason, the amount that any one user can "pay" another user through upvoting (or other methods I don't fully understand yet) is proportional to the amount of steem power they are holding.
Now... steem power can be attained by earning steem through content creation and curation, and then converting it to steem power. Steem power can also be traded for another cryptocurrency. This also allows for a user to simply "buy in" to the level of stake/influence they wish to have in the community.
Using tools like https://steemwhales.com/ can help users visualize other users' activity and wallet data. By clicking on the column entitled "Steem Power" you can see the rankings of users according to that metric.
Now if you look down at the bottom of the page you can also see this stat: "Steemians Tracked: 181994"
Therefore, we know that anybody above ranking #18119 is in the top 10%. Anybody above ranking #1819 is in the top 1% , and so on. Then- looking up those rankings on steemwhales, we can determine roughly where the "cutoff" is for various arbitrarily assigned tiers.
TL;DR Any user with 50 or more SP is in the top 10% of users holding steem power. Any user with 3000 or more SP is in the top 1%.
Does that make more sense now? Please feel free to ask any additional questions! :-)
This explanation does help! Thanks for taking the time to reply like this, @redchartreuse.
Jerry is excellent. That dude has a lot of energy.
Yes... he is definitely super excited about steem!
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