Many users who enjoy their 5% annual staking income by running a Reddcoin “full node” assume that aggregate Reddcoin money supply growth is 5% annually and that the large wallets must be staking … because surely it would be stupid not to ? Both assumptions are wrong. In this post I explain how you can check this for yourself.
The starting point for this investigation is the Reddcoin rich list which shows information about the top 100 richest Reddcoin addresses:
For our purposes the interesting columns are “Last In” and “Number of Ins”. These help you eyeball which addresses appear to have been staking regularly (a high “Number of Ins”) and staking recently (a recent “Last In”). You can then click into interesting looking addresses to view their transactions in detail and assess whether they are or have been staking.
Cut and paste the table from the page into a spreadsheet if you find that helpful. Then you can total the “% of coins” column and find that in aggregate the top 100 addresses represent 52.8% of all Reddcoin. So any conclusions we reach based in this data are reasonably significant.
Looking at the data today you can see that the following addresses by rank are or have been staking regularly:
31, 51, 65, 67, 68, 70, 77, 78, 79, 88, 89, 90, 92, 96.
None of the top 30 addresses are staking - surprising huh ? The staking addresses listed above represent only 3.4% of all Reddcoin. So that’s 49.4% of all Reddcoin that we can say is definitely not being staked, just by looking at the top 100 addresses. I would hazard a guess that a fair number of the remaining smaller addresses are not staking either, so let’s bump that up to a conservative estimate that at least 50% of all Reddcoin is not being staked. It’s most likely more, but let’s shoot for conservative and irrefutable estimates. Someone with more patience than I can run a more extensive analysis.
What does this tell us ?
Firstly it tells us that Reddcoin money supply growth is at most 2.5% annually, and probably somewhat less. Secondly it tells us that your 5% personal staking income is more significant than you might have supposed, keeping you at least 2.5% ahead of coin inflation. Thirdly it tells us that that a surprising number of Reddcoin rich listers don’t care about getting 5% free income.
So please feel good about running a Reddcoin “full node” and keep on staking. You are helping to secure a properly decentralized and ecologically sound network that will be the foundation for the Reddcoin social tipping economy.