I just want to understand this better too and clarify - you mean the first year ever is an anomaly as the supply of Steem is issued, rather than the first year of issuance after a reset? So presumably some time in 2017 it does start to go through the doubling/reset process and the supply of Steem is maintained at around 500m-5b thereafter?
Yes. Steem is created at a fixed STEEM per second until the STEEM per second falls to 100% annual growth. Each day the "inflation rate" is falling because the supply is growing relative to the rate, just like in Bitcoin. This "rate" stops falling once it hits 100% annual growth (doubling every year and then resetting).
I just want to understand this better too and clarify - you mean the first year ever is an anomaly as the supply of Steem is issued, rather than the first year of issuance after a reset? So presumably some time in 2017 it does start to go through the doubling/reset process and the supply of Steem is maintained at around 500m-5b thereafter?
Yes. Steem is created at a fixed STEEM per second until the STEEM per second falls to 100% annual growth. Each day the "inflation rate" is falling because the supply is growing relative to the rate, just like in Bitcoin. This "rate" stops falling once it hits 100% annual growth (doubling every year and then resetting).
Soo.... There is or is not a reverse split at all? I get everything else, but I'm still having trouble with that part.
@are-you-mad There is a reverse split every three years.