Excellent point Pharesim! Hey, hate to go off topic here but just had a quick question regarding the production rate of Steem. Does the production rate still double every 2nd year and on the 3rd year increase by 10 fold?
I just read the Steem blue paper and it seems from reading it that the Steem production may have dramatically declined in Dec. of 2016 so that, as mentioned in the Blue Paper, "The rate that new tokens are generated was set to 9.5% per year starting in December 2016, and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5 years." Wow! If this is true it would be a huge change in the production rate. Is the Blue Paper true? tip!
Ah ok! I got scare, that were big numbers! :)
They are ;-) A cow gives 300kg of meat and lives ~18 months. If you want to get the number per day per cow, it's ~8000l of water.
Excellent point Pharesim! Hey, hate to go off topic here but just had a quick question regarding the production rate of Steem. Does the production rate still double every 2nd year and on the 3rd year increase by 10 fold?
I just read the Steem blue paper and it seems from reading it that the Steem production may have dramatically declined in Dec. of 2016 so that, as mentioned in the Blue Paper, "The rate that new tokens are generated was set to 9.5% per year starting in December 2016, and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5 years." Wow! If this is true it would be a huge change in the production rate. Is the Blue Paper true? tip!
Yes, that was changed. The blue paper is up to date.
Thank you for the quick reply. tip!
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@tipU - send tips by writing tip! in the comment, get share of the profit :)Hi @pharesim! @paul.atreides is sending you 0.1 SBD tip and @tipU upvote
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@tipU - send tips by writing tip! in the comment, get share of the profit :)