Where do all the new users go

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If you follow the report of @penguinpablo you may have noticed that over the last year or so, the amount of activity on steem has been fairly steady.

There have been between 40-50k accounts active on daily basis.

Additionally there are constantly new signups.

This basically means that we have quite a bit of retention issue, since new users do show up, but the overall activity level stays the same.

This must mean that either there is somewhat of a core user group that just stays here and is loyal, or we have a huge retention issue.

My guess is, this has to do with the reward structure and the fact that new users get little use from steem, without SP.

$ 6.328