Introducing the Danometer measuring Steem Pressure for June 30, 2017
In honor of @Dan, one of the creators of Steemit, I have developed the Danometer. What is a Danometer you may ask? Well, the Danometer functions very similar to a Barometer.
Image source: clipartsgram.com
Barometer
ba·rom·e·ter
[bəˈrämədər]
NOUN
an instrument measuring atmospheric pressure, used especially in forecasting the weather and determining altitude.
something that reflects changes in circumstances or opinions
Like a Barometer measures atmospheric pressure, a Danometer is an instrument for measuring Steem Pressure, and can be used in forcasting the Price of Steem.
How a Danometer Works
Every day, I will compile the amount of Steem that exists and feed that to the Danometer and will publish the 3 readings I receive. These reading are for short term (24 hours), medium term (7 day) and long term (30 day) changes in the amount of Steem Pressure. A falling Steem Pressure would indicate that there may be an upward movement in the price of Steem in the near future due to people powering up their Steem and reducing the readily available supply of Steem. Conversely, a rising Steem Pressure would indicate that there may be an downward movement in the price of Steem due to people powering down their Steem Power and increasing the supply of Steem.
24 Hour Danometer
As you can see, short term Steem Pressure has remained fairly steady with only a small increase in the amount of Steem available in the last 24 hours. Forecast: Neutral
7 Day Danometer
The medium term Steem Pressure has also remained fairly steady with a small decrease in the amount of Steem available in the last 7 days. Forecast: Neutral
30 Day Danometer
The long term Steem Pressure has been rising with a small increase in the amount of Steem available in the last 30 days. Forecast: Steem price falling
Steem Flowing Into Exchanges
A final piece of information that can aid in your analysis of potential future price movements of Steem is the amount of Steem flowing into and out of the two biggest Steem exchanges, Poloniex and Bittrex. Over the last 24 hours there has been a net flow of approximately 45 thousand Steem into the exchanges. With a market value of approximately $76,500. This is a very small amount compared to the current Steem market cap of just over $400 million and 24 hour trade volumn of $1.2 million.
Please note: I am not an investment professional. This is all anecdotal information. Please do your own research before making any investment decisions.
Thanks. This is a great idea.
Thank you.
Is there an .exe that fellow Steemers could use to have this run on their desktop? This is a really cool idea, and one that could benefit many cryptocurrencies too!
There is not one right now, but I'm thinking about setting up a web site that will let you use the Danometer with your own parameters.
Great idea! Followed
Thank you!
Cool post or should I say steemy ! Upvoted and resteemed!
Thanks Cousin Bo!
Your darn sure welcome Cousin Luke!
Nice post. I enjoyed to read it. Thank for knowledge
My pleasure, I'm glad you enjoyed it.
Okay. Please post like this again in the future mr gregory . For my knowledge about crypto. Thanks alot
I hope to start making these posts every day.
Nice planning. I waiting for that. See you in the soon
Poloniex having steem deposits on hold may be keeping people from moving steem to the exchanges.
Could you precisely explain how you come up with your ratios?
Ie whats the formular to arrive at -.87 or 0.25 etc and what exactly does this mean?
The number represented is the percent deviation over the time span of the amount of Steem available. So -.87 would be a 0.87% drop in the amount of Steem due to people powering up more than powering down. If there was 72 million Steem on day one and 71 million Steem on day 30 the formula would be (71 - 72)/72 * 100 = -1.39 or a 1.39 percent drop in the supply of Steem.