Why are so many High Reputation steeminans in power down mode?
Steemwhales.com is a great site to get high level view of key steemit statistics. Nicely sortable for every statistic that is presented.
Steemwhales lets you see where/how you fit into the world in general, when "world" means steemit.com in this context.
Humans are social creatures, interested not just in what is happening to themselves, but what is going on with friends and peers. What is going on with folks you would like to emulate and one day become? What are the whales doing? What are the high reputation steemians doing?
One curious anomaly I noticed when looking at steemwhales just now, was from a sort on Reputation.
13 of top 25, and then 24 of top 50, and then 45 of top 100 Steemians by Reputation, are currently in power down mode.
Roughly 50% of the highest Reputation steemians are in power down mode at the same time. Seems like a high percentage and in some way a type of vote of non-confidence perhaps?
You can sort by all the other statistics from steemwhales and there doesn't appear to be as high a percentage in power down when sorting by any statistic other than Reputation. Not when sorting by Steem Power, not when sorting by Estimated Value, etc.
Positive news is we aren't seeing a huge amount of Powering Down by the whales that have the big Estimated Value metrics.
So power down is not because whales are looking for an escape hatch, and planning to take all their money and run.
Power down seems to be focused among the folks that have worked the hardest and worked the longest to get the highest Reputations. Burned out perhaps? Time to move to new opportunities perhaps? Getting ready to take their STEEM and put it back into Bitcoin after August 1st, to participate in another big up leg for BTC?
Please don't understand my questioning.
Everyone has the right to power down whenever they want. And everyone has the right to take their money off this platform, or add more money onto this platform, whenever they want.
I was just curious on why so many High Reputation steemians are in power down mode at this moment? Does it mean anything? Or just a statistical quirk that will sort itself out in a few days?
Interested in hearing your thoughts in this topic.
Please upvote or resteem if you found this to be an interesting read.
STEEM On!
Dave B
Image from pixabay.com
They power down because they are the most active (and many are taking an income) and for the obvious reason of the diminishing relative value of money (each dollars is worth less to you than the previous one). Once you get pretty high amounts in your account, you start to see a greater relative turn on cashing out.
Could be. But some of the high reputation folks powering down have less than $1000.00 value in their account.
Which seems like a curious time to be powering down.
Maybe it is the investor vs. creator mindset. I consider myself an investor and want the most SP possible, but other people might just want to create, get paid and cash out: People still need 'real' cash to pay their utility bills. I do not see any drama in this particular thing. But Steemit is no doubt very competitive for a creator. And the shelf life for nice posts are very short indeed...
About an hour for your post to attract attention is typical, unless you have a whale as a benefactor that can you launch you onto the trending page. Then you are golden
I'm not in power down mode. I'm not exactly a whale but I'm up there. You can't blame people for wanting to take profit and risk off the table. I won't power down one single coin until the block half in bitcoin 2020. 100% upvote your post
Yeah all the people getting scared about their investments this early kinda worry me. This is such a brand new technology and it has so much more to grow. I'm with you, hold on to it all until the last BTC is mined.
We've all gotta have faith and hang in there if this is going to become a solid social media community of good content, which has a payoff for everyone involved rather than it turning into a pump n' dump cash cow for some investors.
This site will be very successful but it's gonna take a few years.
what makes you think that bro?
I am new to understand all that jargons.
I have read quite a few comments and steemit is realistically not that easy. And the whales probably needs to get pay for real.
Keep on steemit!!
Steemit is so cleverly created to encourage users to hold a lot of their steem powered up - therefore minimising the possibility that lots of steem will be sold at one time, flooding the market and crashing the price of Steem. But as a result when the markets are volatile (which they often are), you kind of have to keep powering down in order to get some ability to diversify investments - or to trade.
Its quick and easy to power up but much slower to power down - so it makes sense to spend more time in power down mode than not! That's the way I see it ;-)) I don't think it means people are shifting out of Steem necessarily.
Concept is treated very nicely in Neptune's Brood.
Distinction is made between slow money, medium money and fast money.
The power up and power down mode in Steemit is an early form of a distinction between fast money and slow money.
STEEM On !!
DaveB
Update on this comment - I have just found out that power down is no longer over a two year period - it is now 13 weeks - you may have already known this? Anyway it's new to me even though it was instigated 8 months ago - see the following post for info on the new power down period and also the reduction of 90% inflation to 10% inflation and the percentage that Steem power gets https://steemit.com/steem/@steemitblog/final-review-of-steem-economic-changes
Have a beautiful day! ;-)
Thanks for follow-up I was aware power down is 13 weeks. You get this warning when you power up.
I think they were having trouble getting most people to want to power up, when you had to commit those funds in a lock-up for a couple of years
Good question as most recommend we power up?
#whalepower @bullionstackers can you answer this question?
Doesnt look like you got an answer, LOL
STEEM On !!
Oh wel, I will eventually..these guys stay extremely busy. I can only imagine what it will be like the bigger and better this site gets. Ahh growing pains.
An excellent observation and the comments sure tell a story . Thank you for bringing attention to this .
Upvote for anyone who realizes I made an excellent observation
STEEM On!!
Interesting read :D
I am not a whale yet, but I am presently powering down. People will always power down when they need it.
I am also constantly powering down. I had been here for less than 2 months.
You can power down as much as you want, it is your investment and you can use it as you want.
may be it just a coincident that all of them suddenly powered down.
Do you believe in coincidences?