A quick search on Steemit and you will find many posts and conversations on Steemit about the distribution of SP. Many people find that Steemit does not have a ‘fair’ distribution of power and wealth.
Are Steemit Inc addressing this issue and if so, how effective are their plans working.
Misterdelegation was set up in September 2017 and granted. The account currently owns 16,559,790.86 SP and delegates out 11,422,733.67 (shit that still leaves loads more to delegate…)
The delegations, see below shows the accounts that are in receipt of delegation from misterdelegation, the data the power was given or adjusted, the SP delegated and the value of the vote associated with the delegated SP
If you have not yet noticed, these are apps or services built on the Steemit Blockchain. With SMT’s on the way, I am not surprised that Steemit Inc are supporting projects. But how effective are these accounts at spreading the rewards around the blockchain?
To find the answer to this question, I have taken data from Steemsql for the 1-14th February 2018
Over the two week, @esteemapp has voted the most with 13842 votes, that’s 36% of all the votes given out by these accounts, however the average vote weight is only .55%. This equates to 4.15% of the payout value on all votes given by these accounts collectively. Of the power delegated by misterdelegation only 4.38% of this is with @esteemapp
Here are some of the authors rewarded by @esteemapp sorted by the total vote value received (vote worth)
@zappl, also with 4.38% of the delegation have voted 7007 times for 1540 different authors. The average weight used was 1.85% and this equates to 4.23% of the vote worth distributed to 14.68% of the authors
Here are some of the authors rewarded by @zappl sorted by the total vote value received (vote worth)
@mack-bot seems to be a flagging account, which I had never heard of before. (Shout out to @abh12345, could this be a bot to warn other bots?) With only .09% of the power delegated, it’s given out 11% of the votes, to only 103 accounts.
Here are some of the authors fagged by @mack-bot sorted by the total vote value received (vote worth)
@utopian-io has 8.9% of the delegated power and have given out 18.28% of the votes to 9.51% of the authors reached. The average voting weight used is 3.15% and utopian have handed out 35K in rewards. That’s 13.2% of the total rewards given out by these accounts.
Here are some of the authors rewarded by @utopian-io sorted by the total vote value received (vote worth)
@spaminator help keep steemit clean and downvotes spam. With 8.7% of the delegated Power they have down voted 338 authors with 1909 flags returning $14,403 to the rewards pool
@dlive has the largest portion of the delegated power holding 18%. This 18% has been used to give rewards of over $97K, that’s almost 37% of rewards given. 1648 posts have been rewarded for 376 (3.5%) authors
Here are some of the authors rewarded by @dlive sorted by the total vote value received (vote worth)
@dsound has 8.6% of the delegation and has cast 3.7% of the votes for 3.25% of the authors. The average voting weight used was 7.9%
Here are some of the authors rewarded by @dsound sorted by the total vote value received (vote worth)
@steemcleaners with 13% of the delegated power as flagged 1209 accounts and returned $25.4K SBD to the rewards pool
@dtube has voted 1017 times (2.6%) for 4.24% of the authors. Holding 17.5% of the power they have given rewards of $73K SBD (27.27% of rewards)
Here are some of the authors rewarded by @dtube sorted by the total vote value received (vote worth)
@dmania holds 4% of the delegated power and has vote on 1.6% of the authors reached giving out 7.5% of the rewards
Here are some of the authors rewarded by @dmania sorted by the total vote value received (vote worth)
@sndbox also holds 4% of the delegated power but has given out over 9% of the rewards to 2.5% of the authors.
@busy.pay also hold 4% of the delegated power and has given out 0.29% of the rewards to 3.6% of the authors with a total of 545 votes at an average 0.97% weight.
@trendings-grace and @binance-hot have not used their power for votes yet.
SP Ratio Score and Delegatee Ranking
With all of this data is it hard to establish which account is most effective with their delegated SP. So I have used this data to devise a scoring system.
The table below shows the % each accounts contributed to the group overall in terms of % SP, % rewards $, % of votes and % of authors.
From here (highlighted in pink) I have calculated some ratios against the % SP. Each of these ratios have been added together to provide a score from which I can rank the delegates. This is the SP ratio score.
Congratulations to @mack-bot. Holding only .09% of the delegated power and having carried out 11% of the total number of votes (flags in this case) the %vote/%SP ratio is 129.58:1
In second place is @esteemapp scoring particularly well with the %author/%SP ratio and rather well in the other two.
Conclusion
It appears that Steemit Inc are making an attempt to address the issue of fair distribution by delegating SP via misterdelegation. However there is still a substantial amount of SP held by misterdelegation that is not yet delegated out.
So far this delegation has gone to development projects and keeping steemit clean. I understand that @ned would like to sponsor new APPs especially with the launch of SMTS. But why wait @ned? This delegation could be put to good use now and then taken back when there are new development projects you would like to help finance. So just go for it. This would be a massive step in helping the growth of Steemit. And there are two projects you might not be aware of. Once of which is @stellabelle @slothcorn project and the other project is @steempunknet from @jedigeiss and @dehenne
To the delegates – congratulation on the delegation and I hope that your app helps take STEEM to the moon. You can check back here weekly to keep an eye on your stats and score
As for the data – well when I finished the analysis I noticed one short coming. The level of activity on each of the apps will impact the number of votes given and the number of authors and could also have an effect on the rewards. So stay tuned because I will be looking at this data on a weekly basis and reporting back here and next time I will include activity.
I am part of a Blockchain Business Intelligence community. We all post under the tag #blockchainbi. If you have an analysis you would like carried out on Steemit data, please do contact me or any of the #blockchainbi team and we will do our best to help you...
You can find #blockchainbi on discord https://discordapp.com/invite/JN7Yv7j
thanks for the indepth analysis. so, I guess... I am the utopian king... ^_^
I will take your place soon :P
ha ha love it
😂😂😂😂
Paula, I'm missing the words. Thank you for mentioning and considering STEEMPUNK-NET. I feel really honored.
For people who don't know STEEMPUNK-NET (SPN) yet. SPN is a browser game started by @jedigeiss and me. It's kind of like the first MMORPG on steemit. The next release (Housing) is just around the corner
and STEEMPUNK-NET goes one step further and becomes a bigger browser game. Meanwhile we have a realy nice community and the first guild is just forming.
Thanks again for the mention!
What is spn? Can u drop me an introduction link or a steemit post with more info.
Thanks J
Hi,
SPN = SteemPunkNet. Its a Browser Game as I have written above.
Most important links are:
@paulag i hope its ok tha i drop the links.
@jjb777 i hope it clears the most questions from you
:-)
Yes. Thanks for the info.
J
100% okay
@lordnigel
I was hoping one day there would be something like this. I had no idea till this post there was! Looks interesting I’ll give it a try.
not quite half a year we are working on it in our spare time :-)
You are welcome in our discord chat. There's a lot of nice people there.
Resteemed by the MAP-AAKOM community and upvoted by @rycharde.
Always useful to read your analyses.
awesome thank you
I wonder how many on Steemit doesn't do videos, music, memes, don't have the technical and translation capabilities to contribute to utopian, and aren't a member of sndbox? Must be a lot more than just me .... Or maybe not 🤔
Delegating doesn't help minnows, it hurts them.
If the 75% of sp that doesn't vote did vote our votes would be worth even less than they are now.
More delegation by any large sp holder disadvantages every sp holder other than those favored by the delegation by making sp that would have otherwise been inactive, active.
If Ned wants to help the little guys he would hodl and let the dolphins chum the waters with $10 votes on the newbs, but instead we get rock star hero worship that is hurting retention.
Giving rewards to content that isn't 'good' harms the platform.
'Good' as defined by the whole ecosystem, not just those with favored status bestowed by those with the power to do so.
I've been stating this consistently since before delegation was a thing, when @curie was the worst of our 'favored status' worries, but nobody wants to hear it because the truth doesn't fit in with their worship of power.
Now we have to deal with dtube taking a haejin level of rewards from the pool in a daily basis with another ~20% of the reward pool going to the other 9 of the top 10 voters.
source
It is just a fact in the math.
No different than when the whale misbehavior with the n2 made it impossible for the minnows to matter in the math, at all.
Now we get to matter in the math, but not as much as we would if the whales took a hands off approach, brought back the n2, and left distribution to the dolphins.
Yeah, thanks for making it even harder for the newbs to make a buck on their content,...
(upvoted for visibility)
thanks for for stopping by and this has been a very interesting conversation to read between your self @freebornangel and @lextenebris. Thank you both for adding to this post and discussion.
@freebornangel I would also like to challenge what you have said, in fact I have seen you say this before and I didnt challenge purely down to the rep difference at the time.
The value of a vote is not solely dependent on the rewards pool. There are many factors in the formula, to which I have made my self familiar with.
Steemit at the moment has what 65K+ users a month. The price of steem is 4.25 as I write this and the price of SBD is 5.16. How many users before the price of steem is $100. So yes I hope these app developers bring hundred and thousands of new users because like it or not, this will impact the price.
Now let me prove the math
here is the calculation for my current vote worth
with all the same information but doubling the feed price - look at the change in my vote worth
If you wish i can share this spreadsheet with you and you can play around with the rewards pool drainage, but you will still find this can be offset with increases in the price of steem and sbd
So lets go back to the call out for delegation. Delegation = motivation. I know this because I was in receipt of delegation in the past. The more motivated users, the more they are willing to spread the word, the more people they will attract to steemit - its a snowball thing. The more users the higher the price.
The other option, like I think you are suggesting involves slow growth on steemit many even stagnant. We all keep voting for each other like a nice big family and the payout be high. Mean while the market will see no value in steem or sbd and the price does down till it becomes worthless.
In a sense, it's a race.
Right now by using the platform we are betting that the rate at which steem increases in value will outpace the rate at which the number of votes that we are likely to get on any individual post will decrease in number or value. (Assuming that one's use of this platform is dependent on concern about how much physical reward they receive.)
If the number of users increases such that the dilution of the voting pool by more participants decreases the value of an individual vote faster than the value of a smaller amount of steem increases in worth, we've made a bad bet.
It's certainly possible that Steemit is a bad bet. I'm willing to entertain the idea. Certainly, the overall trend in the value of steem has been largely upward over the last year but like the rest of the cryptocurrency market, it's ludicrously unstable and prone to sudden changes based on actions and behaviors which are not in any way related to those of the investors and stakeholders.
That would be a rational concern to have. But, as you note, it's unrelated to the actions of a few whales in any real sense, because the activity of having significant growth by actual small users is equally dispersive.
And it comes with all the philosophical problems that I pointed out earlier regarding the assumption of authority to tell someone else what they can do with their stake.
Yes, delegation is motivation – one way or another. In some ways we are currently very lucky that there is so much stagnant SP on the blockchain. (That is, accounts which literally do nothing but sit on a pile of vests.) That is all SP which could express the will of the holder to direct the reward pool – which they have a right to do. Should even more of the top 200 become highly active, because of the rate of falloff in the owned vest pool, the actual ability of anyone outside that group to direct any significant portion of the rewards pool would be effectively nil.
I find that kind of interesting. More for the question of "why haven't they done it already?" than anything else.
This is some really great data. Thank you!
One of the things most apparent in this analysis (that you can probably submit to utopian, if you want - let me know and I'll check) is the fact that steemit is supporting apps and initiatives instead of community leaders. Which is not bad, but I would like to see a much longer list of delegations with small (but significant) delegations to community leaders, local steemit ambassadors and curation initiatives that are not curie (they're old and fat already).
thanks for stopping by. I purposely didn't submit this to Utopian as Utopian posts do not appear in search or hot/trending on steemit (not that this post hit hot or trending)
Yes steemit does seem to be supporting apps, and these apps are not owned by steemit inc. I too would like to see a longer list of delegations to community leaders hence tagging ned in the post. I'm hoping someone will bring this to his attention.
Are you sure about that? How? I am really curious.
I tried to get someone to bring his attention to my post basically saying "hey ned, don't make us think mark zuckerberg is better than you". No idea if it worked. It's this post: https://steemit.com/facebook/@techslut/facebook-invests-millions-in-community-leaders-what-steemit-inc-should-learn-from-this
not sure at all, but @ned did say he knows us ALL so you just never know
In that case, it's a shame he doesn't contact me. His competitors (Synereo - wildspark.me) took me out to lunch and paid for my time to get my insight and advice on how to build a better steemit with their coin (AMP). I wish @ned would. I wouldn't charge him for my time. Hell, I'd pay for lunch!
no way, I love wildspark. Awesome, would love to hear what you learned from them. I haven't noticed you in their discord server or old telegram group....
Talk to me on discord and I'll explain. Steem is my priority because it pays the bills and I have a community. Synereo need to chase me. And they are.
Paula, I always read your posts. Appreciate the work that you are doing! A very timely article.
.
17K accounts -thats nuts, but a sign of how much work patrice has done
Hey Paula,
thanks manyfold for the mention! A real nice evaluation you did here, there is a lot of useful information!
We will do our best to make Steempunknet more and more entertaining ;)
keep up the good work!
you are most welcome
Good work,good post.
Ini post yang sangat penting bagi pengguna steemit.
Namun terimakasih atas anda atas postingan ini.
Walaupun saya harus membaca lewat translit
Thanks you.... that Is important Information, Good post
too many words to translate so I can understand. Hehehe..😁😁
but this is a post of interesting data for me to read.
I myself do not wear any of it. maybe i will try it. thank you for sharing.
あなたのしごとはとても良いです。何度も読んだことがあります。
Perfect analysis
Do you think these effort had accomplished its initial goals to create more justice in SP distribution? Where rhe ratio came from for each channel?
Hello. Thanks for bringing this issue to the fore. Among all, I would say utopian-io is the most underutilized of them all. Always coming up with new unfavorable rules that makes it difficult for contributors to earn a dime!
@elear must look into this
@eurogee
While I have heard of many of these projects I had no idea about steempunknet. I do enjoy games from time to time and it really looks like a fun way to increase interaction and some engagement on Steemit.
Thank you very much for bring it up. I am looking into it.
Amazing work @paulag!
This kind of forensic data collection, compilation and interpretation has the potential to drive huge improvements.
I only hope it doesn't fall on deaf, dumb and blind ears. ;-)
In any event, this kind of work deserves my $0.06 upvote.
Nice post. Thanks for your information.
I can't claim to understand a lot of the analysis, but any mention of the steempunknet game in a positive way has support from me. :D
I know the development team works really, really hard on this project and is bringing us such a wonderful game to the blockchain; plus they are open to suggestions by enthusiastic players on ways to make the experience even more fun. :)
congras nice and interesting post very nice job paula
Like👍👍👍👍
Congratulations
good post paulag
Out of curiosity, out of the top earners at each project, how many are closely tied to the project itself? I see some names that also seem to be admins from the same apps.