Think of it like this the whales want the minnows to sell off so they can buy even more to strengthen their position. buy low sell high rebuy low and you can make your 1,000 steem into 1,300 steem. Of ourse this is just an example
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Happens all the time, whales are always the first to buy and first to sell, I reckon they've just started buying again.
Hell, if they'd sold at $10 and bought at $2, they'd have got 5x more than they started with!
And the whales already have to much power. I fear that power unbalance could be the actual downfall for Steemit.
We have a power unbalance like that in real life though - I guess we can't mint our own money in real life though.
This is not about money. It's about VEST. And dynamic of it:
How many orcas become whales every month?
How many dolphins become orcas every month?
How many minnow become dolphins every month?
And most importantly:
How many plankton become minnow every month?
In 2016 it was probably fairly easy to rise up the ranks by making good content. And the answer to all the question would have been: Quite a few.
Today it's all about upvote bots. Which is not what was envisioned. It should be about good postings.
I guarantee that its easier to graduate from plankton to minnow than any of the others, simply because the entry requirements for each category increase by a factor of 10, so it's exponential.
plankton - 0 vests
minnow - 1,000,000 vests
dolphin - 10,000,000 v
orca - 100,000,000 v
whale - 1,000,000,000 v
Yeah, its easier if you're an early adopter - but considering this will still be continuing in 5 years time, maybe more, we're early adopters which gives us a huge advantage.
I've stumbled upon a few accounts from two years ago which made one post, got $0.10 and gave up, but they don't realize their accounts have hundreds of steem power in them today thanks to that one post.
But you can self upvote and so higher you get up so more your self upvote counts. That too is exponential. Question is: which function rises faster? (I honestly don't know)
Another interesting aspect: And a new account has about 15 Steem Power donated by someone which equivalents to about 7000 VEST. With every Steem Power you gain the donations is automatically reduced. So you stay at 15 SP / 7000 VEST for a long time.
You have to actually rise the whole six digits from 0 to 1 million to become a minnow.
But yes, becoming a minnow is still doable. You need a little more about 540 steem power. Which is little more then a thousand dollar.
PS: I currently have a little more then 50 steem (power) and a little less then 50 Minds Token. It will be interesting to see how that will change over time.