I just did an overlay ( price / post+comments ) , judge yourself :)
So more users = More activity ! More activity = .... I guess you get the picture here :)
Is there a correlation between the price of Steem and the activity on Steemit?
8 years ago by elyaque (70)
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The question is if the price influences the activity or does the activity bring higher prices.
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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
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It is certainly a feedback loop. That's how it works mathematically
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its is just a question of the hype that jerry banfield creates around steemit :D
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Good gosh. I can't stand these youtubers who realistically don't know what they are talking about. Might be dangerous.
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Good question, but as long both going up, I don't care :)
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Wow, look at that chart, price should follow!
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.... judge for yourself :)
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You are genius. It is not a joke. We need more good users (not bots).
Resteem.
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Thanks :)
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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
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nice post
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Thanks :)
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no problem!
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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.
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Thats about correct :)
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That's a really short timeframe. The correlation looks weak as well.
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...judge for yourself....:)
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Hey, could you describe how you got the data and analysed it?
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It is just an overlay, data you can find for example at steemdata and poloniex....
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Thanx
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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.
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We have more and more users everyday, today alone 6000+ new accounts!
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That is lovely! Steemit is getting viral!
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https://steemit.com/steemit/@elyaque/daily-steem-report-june-14th-steem-2-31usd-6050-new-accounts
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Post more things! Increase the value of all the things!
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More post more Activity.... :)
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More activity might not mean a price increase but more new users definetly means an increase in price because they will buy steem (affecting the market) in order to get more curation rewards !!
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More new users = more Activity :)
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Exactly :) !!
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Lets start dragging people off the streets and.make them join Steemit!
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Marketing is what we need :)
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There we go! My prayers have been answered! Thanks! Haha
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:)
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Good you included only the one with posts otherwise it wouldnt make much sense since quality posts are meaningful data and signify activity while someone posting a random sentence gets a few upvotes somehow doesnt reflect real activity in my opinion
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posting=activity
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yea true good point I'm only thinking if everyone came on steem to just say "hi" and post the price wouldnt stay high. Its quality posts that people find interesting and comment on that help do that better
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I think the junk posts are somewhat self-limiting. Quality WILL out, good posters just CAN'T, literally CAN'T, stay away from their keyboards (or voice-rec app)...
And a lot of us minnows can't shut up anyway, given the revolutionary nature of Steemit.
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It looks like the price lags a bit behind the activity which, if true, means we'll be getting a big jump in the next few days :)
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Thats how I read it :)
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Yeah all pretty clear. Elyaque post a simular one next week please and we can see if we where correct!
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which means i need to keep posting and help pushing price!
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Yes ! :)
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imagine if all FB users switch to Steemit :)
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A dream would come true :)
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there seems to be a divergence in the last few days of that chart
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or the the price will catch up soon ... :)
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yep ..finger crossed :)
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The price is lagging behind ever so, maybe in for a big jump in price soon!
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hehehe, thats what we all hoping for :)
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I think we soon see steem in 3.50$
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Can't wait :) That would even get more people hooked up :)
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Yes :)
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I will be here come rain or snow! But I am still very new to Crypto at large and could really learn a lot more...
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Stick with the Steemit Community and you will learn it :)
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Seems like there is some correlation going on. But it probably just means that due to increases in activity level of posting more people are participating both in the market and the community.
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.... like I said....judge for yourself :)
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Wow, that is intriguing info @elyaque your posts are always so interesting.
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You are welcome :)
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Interesting post.
Correlation does not necessary implies causation, as mentioned by @writingamigo
We can't really determine which factor is the cart, and which is the horse.
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Time will tell.... :) And thats why I said.... judge for yourself....
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And feedback loops may have only boundary conditions, not "primary drivers".
The horse is riding the cart it pulls.
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Schrodinger's HorseCart?
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Steem will die without growth. Whales are sitting pretty right now because it's a new
platform, but if they don't start rewarding more
minnows it's gonna die out. It has so many advantages but we need on mass adoption and rewards to keep t going.
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There needs to be a discussion around some kind of taxation or donation policy to spread some of the curation power around. (e.g. Minnow Support Project)
I see this as the only way to start increasing the value of content that is not interesting to the whales, but could be interesting to others.
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I know whales do their best. Maybe it's possible for steem to randomly put a minnow post into a whale feed on purpose. I don't like the idea of taxation. That's what some of us are upset about to begin with lol
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I'm hopeful for the guild systems and the curation trails. Ideally they get more weight behind them. e.g. https://steemit.com/steemit/@heymattsokol/your-votes-will-be-more-powerful-with-hard-fork-19-and-you-d-better-be-careful-with-them
Taxation may be too strong a word. Universal Basic Steem Power. :D
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@bearbear613 In Hard Fork 19 that will change :)
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One day there will be millions of steemers and the price is going to be much higher.
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Amen
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Also, do you think marketing can help? It will help with also teaching others about the currency process since it is something that is fairly new.
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Everyone can do marketing, just talk to the people :)
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So the key is quantity not quality... :D hahah jk jk. Nice observation!!!!
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No, it's a lot of quality :)
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Yes, yes, yes.
We're growing and growing and growing.
Steem has the potential to go to the top.
Steem up!
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https://steemit.com/steemit/@steemitblog/state-of-steemit-big-changes-in-steemit-recently
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this is sick, respect!
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heheheh, thanks :)
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That is a good observation! Everyone wins essentially! Resteemed.
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Thanks :)
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Good data, thank you. upped and followed! - @sircork
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Thanks :)
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Maybe. :D
Investors may be convinced now in investing on Steem because they realized there are so much use-cases for the Steem blockchain like for social community. ;)
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And Steem has no fees ! Micropayment no Problem !
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Yes, indeed. Fast transactions as well. Just a few minutes and you are checked-out! :)
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It may be coincidence!? :)
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...maybe :)
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If one think is curtain, is that graph never lies :).
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:)
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This post received a 50% upvote from @randowhale thanks to @elyaque! For more information, click here!
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Interesting! And encouraging!
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