SEC S17W5||Whales in steem blockchain

Assalamualaikum

Greetings to you all!
Whales 🐳 in steem blockchain have a lot of influence and I am going to talk about them today.

"Whales" are defined as those users that stake a significant amount of Steem Power (SP), which shows their governance and use it for voting users content.Whales have significant value at steemit.

Whales are divided into three groups

Top 10 Whales	They stake over 1 million SP and have great voting power.

Medium Whales	Medium Whales stake between 500,000 and 1 million SP, still staking their considerable impact.

Small Whales	Small whale stake equal to 500,000 SP but are still considered significant contributors.

Responsibilities to the community

Leadership	Whales are expected as leaders.Forexample, In promotion for positive and innovative project.

Voting	Whales have high amount of holdings that can effect at platform's governance, and their votes are such kind of valuable that they can make or break proposals and new initiatives.

Mentorship	Whales are also approached for purpose of providing guidance and advice to users that are new specifically and whales are also expected in sharing their knowledge and experiences with new users.

Content Curation	Whales are helpful in curation of high-quality content through upvoting posts and support of deserving authors.

Community Engagement	Whales also willingly participate in important discussions,show their significant engagement with other users, and help in resolving conflicts.

• @berniesanders is amongst top 10 whales he has his influence in promoting social and political awareness and support relevant content and innovative initiatives.

• @steemcafe is a medium level whale that engages with the community in active way so he is offering guidance and support to new users, and in curation of quality content through His curation trail.

Whales at steemit potentially effect value of STEEM. There are different ways in which whales can impact value of STEEM and role of whales at STEEM I am going to discuss.

Influence on Value

Market Volatility	Whales may cause price volatility by buying or selling significant amounts of cryptocurrency which may impact market sentiment and for trigger price fluctuations.

Liquidity	Whales also play their role in providing liquidity, in enabling little investors for buying and selling easily, that can stabilize market.

Trend Setting|Whales can start any trends, and other little investors also follow that actions so they are helpful in amplifying market fluctuations.

Role in Steem Blockchain

Voting Power	Whales have significant voting power so they are helpful in shaping direction of the Steem blockchain and its development.

Content Curation	Whales show their role in curating quality content so they support high quality posts and authors so they helps in maintainence of platform quality.

Ecosystem Support	Whales can also support Steem based projects and initiatives that fosters development,innovation and growth at steemit.

• In past in 2017, there was a single but large whale who sold a large amount of Bitcoin so it cause a significant price drop from $2,700 to $2,300.

• @steemcafe was a medium whale that curates content in active manner so he support authors and promote engaging posts.

There are different phases which can impact the platform and other users. Here are some phases.

Accumulation	Whales can buy and hold Steem so it may enhance their stake and influence at steemit and this phase can cause more price stability and more steemit growth that may also benefit other users.

In top 10 whales,there is a big name of @berniesanders who have accumulated significant amount of Steem, becoming a top whale and has also gained high voting power.

Consolidation	Whales stake their Steem for maintainence of their influence and for waiting for market volatilities to subside. This phase can cause market stability so it's a way of permitting other users to participate without particular price fluctuations.

When there was a market downturn, @steemcafe at that time hold his Steem, providing liquidity and stability to the market.

Distribution	When whales power down their Steem then it definitely cause reduction in their influence and significantly cause market fluctuations. This phase can lead to price downtrend so it is also affecting other users in this phase.

When in past there was a whale @patrice and he power down his Steem account, then in market there was a significant price drop that were also impactful on other users holdings of STEEM assets particularly.

Re-accumulation	Whales can purchase back Steem for the purpose of regaining their influence and for significantly starting a new accumulation phase. This can cause market to growth and to enhance user engagement.

After a market bearish trend, @steemitblog (a small whale) re-accumulated Steem for support of the platform and for showing its contribution for its growth.

There are different challenges that users at STEEM can face due to the presence of whales.

Market Volatility	Whale actions can cause significant price fluctuations either it's positive or negative it can affect users investments.

Voting Power	Whale significant voting power can impact the platform directions so it significantly marginalize smaller users voices.

Content Curation|Whale can curate content by giving preferences to particular content so in this way it can effect visibility of smaller users content, making it difficult to attaining traction.

To protect their investments and navigation of these challenges users can easily adopt the following strategies

Diversification of assets	It's crucial to distribute your investments in various cryptocurrencies for reducing exposure to Steem market trends.

Community Engagement	In development of relationships with other users and in engagements in different discussions for amplifications of your voice and influence.

Content Quality	You should be focused on creation of high-quality content which may resonates with wider audience to minimize their dependency at whales curation.

Voting Strategies	Using voting bots or joining for voting trails for amplifications of your voting power and counterbalance whales' overall impact.

Steem Power Management	This is significant to manage Steem Power in efficient way by usage of tools like SteemWorld or SteemitTools for optimizing your influence.

• @steemcommunity (a group of users) created a community for amplifications of their voices and impact , countering whales' dominance.

• @steemauthor is a content creator who is much focused in production of bhigh-quality content, gaining recognition and support from a broader audience.

The presence of whales on Steem can impact ordinary user participation and engagement in several ways:

1. Intimidation factor: Whales' significant influence and voting power can intimidate smaller users, discouraging them from participating or sharing their opinions.
2. Dominance of popular topics: Whales' content curation preferences can create an echo chamber, where only popular topics and established authors receive visibility, marginalizing diverse perspectives.
3. Lack of representation: Whales' voting power can overshadow smaller users' voices, making it difficult for new or niche topics to gain traction.

To encourage a greater diversity of voices and contributions, we can:

1. Promote community engagement: Encourage users to participate in discussions, engage with others' content, and build relationships to amplify their influence.
2. Support niche topics: Use voting bots or manual curation to highlight unique perspectives and topics, promoting diversity and inclusivity.
3. Empower smaller users: Offer resources, mentorship, and support to help smaller users grow their influence and contribute meaningfully.
4. Foster a culture of inclusivity: Encourage whales and established users to engage with and support new or marginalized voices, promoting a more diverse and vibrant community.

Practical Examples:

• @steemdiversity is a voting robot thar curates content from niche topics and new users, hence promotes diversity and inclusivity at steemit.

• @steemmentor is an experienced user that is offering mentorship and guidance to new users, for empower them in showing their contribution in meaningful way.

I want to invite
@paholags

@shahid2030

@sduttaskitchen

Have a blessed day