RE: [STEEMGIG] Riddle Me This: Where are Vests Born? And, When do Vests become Valuable to the Community?
well I know some of these answers. let me see ... I think I'll make individual answers so we can track things out a little better.
we will have to work on documenting sources but let's get some overview out and done.
We are all currently "mining". The STEEM blockchains are every move we make ... just like in the song lol ... they'll be watching you. every word, every transaction. And every image and ... every move we on the apps. because the apps are built on top of the steem databases and probably more that I don't understand.
so every post, comment, vote, etc etc generates STEEM.
so being good bloggers and visitors who comment is HUGE impact. Without us working the economy doesn't grow. BUT it doesn't shrink either. Minnows could stop coming in tomorrow and all the current minnows could stop working. And all that would technically change is that there would be a fewer number of tokens for a fewer number of active people.
I mean think about it. If we don't work, we're just not generating income for ourselves. That doesn't mean a whale can no longer create STEEM or that the whale would have less STEEM
But, if that were the case, then as the number of posts increase, so should the amount going into the Rewards Pool, but it is constant compared to the increase in posts. The fluctuation of the STEEM seems to be affected more by the price than by the numbers of posts.
This is where we need the white paper and a diagram I keep seeing floating around in my head. I keep thinking it was in one of the posts you linked to.
I'm sure some searching will pull up more than one wisecracker that attempts to explain this.