Every two weeks or so I like to compare the current Power down statistics and see how we stand.
Here they are:
11 January 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 206,2 Million |
| LIQUID STEEM | 86.6 Million |
| SBD | 11,59 Million |
22 January 2019
| STEEM | Amount |
|---|---|
| STEEMPOWER | 205 Million (-1,2 million) |
| LIQUID STEEM | 90.36 Million (+3,8 million) |
| SBD | 11 Million (-0.6 million) |
After recent events Steemit inc. is powering down the Steemit account (42 million SP) to secure it from potential thieves that have made 'hypothetical, that they were never going to carry out (even though they were seated in positions where they could potentially do so with enough consensus)' treats to hard fork them out of their funds.
Considering Steemit inc. is a private company that obviously wants to secure their funds they have decided to power it down and send it to an exchange to hide it from view.
From the exchange it can either be distributed to new accounts that nobody knows are Steemit inc. (and therefor can't be hard forked out) or it can be sold.
Because of this move the amount of total Steempower has gone down with 1.2 million in the last two weeks. It's been while since the total amount of SP went down.
But on the plus side: The amount Steemit inc. powered down was around 2 million, so there was still 800k powered up by other parties (or Steemit inc.) in the last two weeks.
The amount of liquid STEEM has grown a lot because of all this with 3.8 million and also because another 0.6 million SBD was converted to STEEM.
If STEEM managed to increase more the SBD to STEEM conversion inflation will decrease fast.
The inflation from SBD to STEEM conversion might decrease if STEEM manages to go up more. Every SBD can be converted to $1 of STEEM. The higher STEEM trades for the less STEEM you get per conversion. Fingers crossed!
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In layman’s terms, what is preventing the “potential thieves” from hard forking out the accounts held by the exchanges?
They can do that but then nobody will be able to trade on the exchanges.
Exchanges just have 1 Steem Account, just like yours or mine.
When you sent Steem to an exchange it's held in this 1 account, only the memo you send with it identifies it as yours as an IOU on the exchange.
When Steemit inc. sends money to Bittrex they can use it as a tumbler. When it comes out and is send to another Steem account nobody knows who owns it.
@exyle,
I wish STEEMIT INC might rethink about that massive powering down!
Cheers~
Are you still buying Steem Exyle?
No. I have made my investment in the downtrend. If it drops again I'll reconsider if not then what I have is what I have.
I dont understand why and how the amount of total steem decreases.
just because steem inc started power down and send it to a new adress the steem amount should not decrease. where is my error?
The total amount of STEEM increased. Just add the liquid STEEM and the Steempower together.
I noticed the other day that SBD was pushing really close to $1 again. It has since fallen back down, but it was interesting to see it back at those levels again. Thanks as always for sharing this information with us!
it is actually on a steady rise to 1$ :D
Posted using Partiko Android
What is interesting is how the price has been positive despite these moves! From a demand/supply perspective, it means that people are still buying which is great. However, more promising will be a move into SP aside from whatever Steemit Inc does.
Posted using Partiko iOS
I think Steemit Inc are far more likely to move steem to other accounts and power up than sell at the current low price. So the the amount of steem powered up should increase a lot? We might not know where they move their steem but we might see how much. They might have to move the steem a few times, to make sure it isn't easy to trace?
Interesting thoughts. And what do you think about this post
https://steemit.com/steemit/@drutter/did-steemit-go-corporate?
Posted using Partiko Android
I doubt that's true but it might explain the price rise. If its just a rumour to pump the price, I'll be able to buy Steem cheap again :)
Let's see what will be thuther...
Posted using Partiko Android
It's just a rumour. Wether it's true or not doesn't matter to me, I'll hold Steem anyway.
Thank you for your answer! In any case I agree with your hold on Steem position!
Posted using Partiko Android
Nice to look the stat's liquid steem on the rise as the steem prices going up
I'm just sad that a lot of great projects got their delegations taken away...
Posted using Partiko Android
I don't think any project should rely on Steemit Inc. Maybe a lot of the delegations can be replaced by lots of different Steem holders? Then it will be a positive, as they aren't relying on just one entity.
We might see a lot more liquid steem in circulation in the coming weeks.
Posted using Partiko Android
wow
amazing
nice post dear friend
Lol
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Well could steemit inc not sell a bit more steem? So I can buy in cheap again 🤣😂🤣😂 I ain't gonna buy now unless the smts ate coming then I will be a dolphin soon I think if I'm not too late with it. 😁😀 but realistic speaking as you look at the history I think there will be a correction again it went high like overnight. 😉
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If the conservative cut-off of SBD printing wasn't removed during HF20, then we wouldn't be printing SBD while there is a 2:1 conversion ratio while the debt is so high.
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it would be interesting to see how many accounts they would need to move all that steem so no one would notice. it is not like new acc would have 1000 steem and a new whale is hard to miss 😁 anyways it is their steem and they can do whatever.
Posted using Partiko Android