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RE: Steem - Post Payouts & Steem Health Part 2
So 18% of users get 90% of the rewards. Sounds like something that we know about the fiat currency, "1% of the people own the 99% of money"
So technically we've made good progress by rewarding 17% more people in Steem world.
Hopefully this will change in coming days when more and more dolphins are created/made.
Thanks for your analysis.
Source on that? I think you're confusing it with this, but it's 1% owns 50% of the wealth, not 99%.
Steem is empirically worse in terms of wealth distribution than the wider world right now, the benefit is that the protocol encourages wider distribution over time, whereas it's the opposite in the fiat world today.
Yeah, you're right. Probably it got adulterated as it traveled all across the Internet.
For Steemians with low SP, this certainly isn't a good data to see 18% people rake in 90% of the moolah 😁😂
It is unrealistic to expect much wider distribution than that at any given time. Even the whitepaper predicted this:
I'd also keep in mind that it's not 18% of people, it's 18% of active accounts. A huge number of those active accounts are voting bots which are bringing in very little rewards.
Just came across this, thought of sharing with you: https://thewire.in/216160/richest-1-cornered-73-wealth-generated-india-2017-oxfam-survey/
Good point. It's very positive that not all the rewards are getting given to a tiny group of people.
I looked some time back at the distribution of account values compared to this 1% figure. It's not quite as high at the rest of the world but it's still quite high. It's not trivial to get this stat though because some people own multiple accounts and we don't know who exactly these people are, especially for some of the big accounts.
True. Multiple accounts and cross voting from one account to another is common. Though to draw money or shift Steem outta Steemit, just one account (the primary one) is used (my limited observation)
At the same time, people make multiple accounts and keep one of them accounts just for upvoting minnows and plankton (again my limited observation over the last 87 days)
I have myself been beneficiary of receiving massive upvotes from such accounts on 4-5 occasions.