You are viewing a single comment's thread from:

RE: Steemit Has A Gini Coefficient WORSE Than Africa!

in #steemit7 years ago

Hey @doodlebear. Calculating the Gini Coefficient for Steemit is a really interesting idea. I am not at all surprised that the coefficient is so high. Those that joined in the early days of Steemit have grown very quickly. Back then there was limited competition and the value of Steem was very low. Entrants in 2017 face much stiffer competition from all the new entrants. The early entrants have seen the value of their Steem increase by 5 to 10 fold. They have also worked together for a long time and tend to upvote each other, thus furthering the gap from the newbies.

I don't expect the inequality to continue indefinitely. Many of the new entrants will be able to break through and close that gap. Bots will definitely help make that happen. There are also several really supportive Whales that are willing to dish out some high value upvotes as well. It is in the best for the Steemit top dogs to reduce inequality as this will atrract more people to Steemit and also keep a good level of retention here as well.

Sort:  

100% of steem wealth is held by a tiny fraction of the world's population.
If you have one steem, you're in the top 00.00001%

@mattclarke, nice way of putting this in perspective.