That is a number I took from @arcange's steemitboard rankings and can you guess what it represents in this little scenario?

Earners on Steem. More precisely, the number of SP earners on Steem who have received total payouts of at least 500 SP. And remember, it would be only 500 if all posts were set to 100% SP, if they were set to 50/50 liquids, they would have earned the equivalent of twice that amount.

This doesn't include the miners around that mark as they don't count as payouts:

What ever happened to Dan anyway? Last I heard he killed Steem with the release of Voice.

#11183

It is actually quite an impressive number isn't it considering that at the high, those at least 500 Steem would have had a "street value" of 4000 dollars US. But, every number up from that point heading toward 1 has earned more than that amount than the last. Who is number 1? Here is the top 10.

#1619

This is the number of people who have earned at least enough direct SP (remember they might have earned double this amount) to become a dolphin with 5000 SP. At the high, that would have been 40,000 dollars worth. If you want to do the math, at the high that group would have been worth at the minimum, 64,760,000 USD.

Of course, many sold at that point and the prices plummeted for a year and a half to where we are today. But, not everyone sold and pretty much 200 million Steem has stayed vested the entire time.

However, what would have happened if everyone had sold all of their holdings down to near zero. Besides the plummeting price that would have put the value of Steem zero as not everyone can sell at the high and the more sell pressure, the lower the price - who would have been left to distribute the pool?

The buyers

But who would buy Steem when there is a complete exodus of Steem Power holders which would leave the chain completely vulnerable and insecure? You see, this is something that many people do not recognize because if everyone sold, the price would have dumped and most people would get near zero value and the people that bought while everyone was selling were the people who saw an opportunity to expand their stake in a dPOS system, many of whom actually enjoy being here for more than money.

And because they enjoy being here, even as prices kept falling from 8 dollars to 16 cents, they stayed and continued posting, commenting, discussing, complaining, growing, developing, building, crying, getting frustrated, working, having a laugh and doing what they could to earn a bit more stake to cost average their buys lower.

They also distributed, and distributed to many who had already sold at least once. Remember that this is a dPOS system so pretty much everyone who has earned anything in the last almost 2 years since the high have done so through people who either didn't sell or who bought in and powered up as the only way to take Steem from the pool is through powered up stake - or being a witness who earn around 11% for securing and processing the blockchain.

You see, over the last however many weeks, months or years you have been here, it has been the holders and investors that have been distributing most of the pool and without them, no one would have earned anything on their post at all.

Delegated proof of stake.

 

Above is the distribution of the entire pool for the last 30 days taken from Steemdb.com. Yep, that is all comments actually get out of the pool, so those worried about comment earnings affecting engagement shouldn't be too concerned although, there is a psychological effect to it. However, other than the 11.2% that the witnesses earn, all the rest is directed through stake, including the 52.6% that has been directed to authors.

It is pretty interesting to think about just what has gone on here the last 3 years where there have been people who have made millions, people who have made enough for some pleasures, some bills, some food and, some who haven't made much at all. I think it is quite difficult not to earn something on Steem, but it is quite difficult to earn anything on many other platforms. When Steem was at that high, I don't think there has been a platform in history that would have paid so much to the content creators and consumers.

2 billion dollars worth of Steem.

 
While all of this might mean nothing to you, I find it incredible that a group of people who do not know each other have been able to generate the results of a massive company.

Amazon

March 1999: 86.1
Sept. 2001: 5.97
Today: 1749

That is a pretty big swing and I wonder how many pulled out, and how many held on.

1749/5.97 = 292x up in 18 years to today.

Of course, Amazon is not a dPOS system so at all points of the history - everything need to be bought before it could ever be sold.

Steem is different.

In a hypothetical world.

292x0.16 = 46.72

But, who would ever work or wait for 18 years.

For me, I am 40 and have already been working most of the last 28 years of my life as I started at 12 years of age, with another 25 at least to go if I am to go to the current retirement age. That is quite a long time to potter about on Steem, writing, reading, voting, distributing.

Since I have nothing better to do...

Taraz
[ a Steem original ]