Sales of MAPX tokens have slowed, which is no surprise given the current environment, with some 8,400 sold and about 7200 staked.
For the first time, we see the number of staked tokens going down slightly. Some people are switching over to MAPXV, which is as expected and fine. We are still about 600 tokens away from the 9,000 mark, so unless one big buyer steps in the delegation-mining will continue for a while.
With STEEM continuing its decline to below 21 cents, far too many people make the usual naive mistake of selling at the bottom. This downward pressure continues to come from the programmatic sale of coins by the largest holder. At some point that will stop and then we shall see who holds those coins and what use they will make of them. This is in no way positive but it is self-limiting in that the coins are not infinite in number. So, away from the speculation, what do we do?
Well, one of the most important parameters is the value of an upvote in STEEM terms - forget the Dollar, it isn't relevant. At the moment this value stands at 0.6060 STEEM per 1k SP per day. So this assumes the full 10 upvotes per day (it's actually 11 if one spreads them out, but anyway...) at 100% power.
In isolation, this number may seem meaningless, but I track these things and the trends make interesting predictions about the Steem economy. Note that this 0.6060 STEEM then converts to 22.1% APR. This is the real interest rate that everybody else calls the inflation rate. Actually, most people know nothing of this and quote the Steem blockchain's coin-creation rate, which is about 8.5% per year.
How do we get from 8.5% to 22.1%? That's easy, it just means that a very large portion of STEEM is not doing anything: not vested, not voting, not creating rshares and not distributing value to the other stakeholders. That's the problem with Steem at the moment.
Have a fine day!
PS. I think this is the first time that I have added some crypto commentary to these posts that have so far been specific to this MAPX token and service. I think I shall continue to do so (on MAPXV and MAPR too) as and when I have something interesting to say. Most users on the blockchain ignore these things, and that's up to them, but the Paying Attention Economy requires knowledge and insights in order to thrive. Your comments are also more than welcome. Thanks.
Talking of SP, time for some more random bonuses!
One 10% upvote each to @qwerrie and @lightcaptured.
A 10% upvote from MAPX is equivalent to 100 MAPX tokens and today is worth 0.117 STEEM. (Notice how this value has gone slightly up even though the market STEEM price has gone down.)
Enjoy your day!
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ONECENT: The First Strategic Token Investment Game (STIG)
