Is there a correlation between the price of Steem and the activity on Steemit?
I just did an overlay ( price / post+comments ) , judge yourself :)
So more users = More activity ! More activity = .... I guess you get the picture here :)
I just did an overlay ( price / post+comments ) , judge yourself :)
So more users = More activity ! More activity = .... I guess you get the picture here :)
The question is if the price influences the activity or does the activity bring higher prices.
I think it MAY work both ways, I believe more activity can make prices go higher and if prices go higher, more people gets to know about Steemit and they get more excited about participating.
I do know for sure that at least the price as an influence in the activity on Steemit, for example: 2 months ago when I posted my Introduction https://steemit.com/introduceyourself/@mariacherries/this-is-me-introducing-me, there were a lot less people posting because there was a much smaller reward pool, in that post I got 133 upvotes but only 0.32 in revenue, and now that the Steem price is higher more people are more excited about posting.
The price hype is a little big trickier because that can be influenced by other stuff like China validating Steem and market cap
It is certainly a feedback loop. That's how it works mathematically
its is just a question of the hype that jerry banfield creates around steemit :D
Good gosh. I can't stand these youtubers who realistically don't know what they are talking about. Might be dangerous.
Good question, but as long both going up, I don't care :)
Wow, look at that chart, price should follow!
.... judge for yourself :)
You are genius. It is not a joke. We need more good users (not bots).
Resteem.
Thanks :)
Interesting finding! I though it was good for the price of Steem to have a bunch of activity on Steemit, so to imagine some correlation between those two makes sense, also I like to comment a lot so I hope comments get more curation rewards as well :D
nice post
Thanks :)
no problem!
Hmmmm, well this is certainly interesting. So steem is created by use of the site and the more users and use creates more units of steem over all to be disbursed? Did I get that right? Enjoyed.
Thats about correct :)
That's a really short timeframe. The correlation looks weak as well.
...judge for yourself....:)
Hey, could you describe how you got the data and analysed it?
It is just an overlay, data you can find for example at steemdata and poloniex....
Thanx
to be honest, I believe that the price increases activity but not the other way around. At least at this exact time. Hopefully, most of the users are going to stay and help the price rise in a long term.
We have more and more users everyday, today alone 6000+ new accounts!
That is lovely! Steemit is getting viral!
https://steemit.com/steemit/@elyaque/daily-steem-report-june-14th-steem-2-31usd-6050-new-accounts
Post more things! Increase the value of all the things!
More post more Activity.... :)