You are viewing a single comment's thread from:
RE: Who pays for the blogging and curation rewards? (Part 1: STEEM POWER)
It is important the Steem(it) users and investors have an accurate understanding of how much debasement is accrued yearly to fund the various rewards paid by Steem, 77.5% of which is for blogging and curation rewards.
where is the 77.5% number coming from?
iiuc its 65 point something without liquidity rewards and 49% and change with liquidity awards.
- Curation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
- Content Creation rewards: 1 STEEM per block or 3.875% per year, whichever is greater
- Block production rewards: 1 STEEM per block or 0.750% per year, whichever is greater
- POW inclusion rewards after block 864,000: 0.0476 STEEM per block (awarded as 1 STEEM per round) or 0.750% per year, whichever is greater.
- Liquidity rewards: 1 STEEM per block (awarded as 1200 STEEM per hour) or 0.750% per year, whichever is greater
so without liquidity rewards its 2/4.0476 = 49.4%
without its 2/5.0476=65.6%
For that matter, where does the dual cap come from from? If were talking fixed production per block....
3.875% + 3.875% = 7.75%. From the white paper:
So 7.75% ÷ 10% = 0.775, i.e. 77.5%
I understand the liquidity rewards are currently paused, but I am writing my analysis per the specification of the white paper. They may restart the liquidity rewards in the future, and anyway the difference isn't very significant.
I don't know what you are referring to by "dual cap".
OKOK. i see what youre doing... but this isnt really correct.
The blogging and curation rewards alone are just 7.75%.... the SP incentives caused by those blogging and curation rewards are the rest of that 77.5% (ie the 9-1 ratio again)
By dual cap,I meant that its either 1 steem per block or 3.875% I don't see how it why this number would ever vary... unless its a function of the decreaseed POW rewards.
I wrote in the blog, "how much debasement is accrued yearly to fund the various rewards paid by Steem, 77.5% of which is for blogging and curation rewards.".
That means of the 10% debasement of the money supply which is not just a forward split for SP holders, then 77.5% of the 10% (i.e. 7.75% of the total yearly increase in the money supply) is paid for blogging and curation rewards.
It is a bit annoying that you were too lazy to take the time to try to really comprehend my blog and instead immediately jumped into plastering the comments with your long-winded "walls of text" incorrect accusations.
If your attitude towards me had been more cordial from the get-go, I would have been more inspired to be amicable in my replies. As it is, I am trying to keep a smile on my face. Hope you too.
I appreciate peer review, but please take the time to comprehend really well. Whe you shoot off accusations without taking the time to comprehend a blog, you set yourself up to make mistakes and be the one wearing the asshat. I had a very good mood from writing this blog and receiving a lot of appreciation for it. And you rained on my good mood.
As well you have wasted some hours of my very scarce time.