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RE: Where do the Contribution Rewards come from? Steem-Help - Requested by @leksimus
Total Rewards: 800 per minute
Steem Power Holders Reward: 720 per minute
Small correction, only because its nomenclature in the whitepaper.
The rewards part is 80 steem per minute.
What you call the "sp reward" is called "sp incentive" in the white paper and treated differently from rewards.
This is essentially why Steem is slowly redistributing away from the Top Steem Power Holders to the smaller holders.
theres a bunch you didnt take into account in that model. INcluding that BP rewards all go to the top 19 witnesses (who are almost all in the top 1%)
It would be just as easy to make a case that rewards are concentrating, not diluting.
The top 1%, depending on your definition of a user (I go by weekly actives) are around 170 users. These 19 witnesses make up ~12% of the top 1%.
EVEN these users need to achieve a 17.5% return on capital to cover Dillution over the next 12 months (all the other users are around 35%).
I posted my opinion on this in my previous post regarding Dillution, BUT I am activily collecting data each week monitoring these levels, so over the coarse of the next month, we will have a good idea what is actually happening
orly? i suppose that depends on how you define user. For instance @dan and @dantheman
1 user or two users?
I think that concentration is an important issue thats worth discussing. That said, most of what youve written appears to be very very biased in favor of telling a story that simply isn't true.
I took the liberty o f analysing your numbers, and pointing out the errors in your method and your assumptions, at least as I see them:
I hope youll take a look and comment
https://steemit.com/steem/@sigmajin/cooking-the-books-the-real-story-of-whales-and-dilution