Top 5 wrong assumptions SteemIt users make
1. You receive 90% interest on steem power a year
That's actually not true, because it's actually inflation instead of interest. You can only call it interest if the value of STEEM is more than ~52.63% (1/1.9) of the value at the start of the year. So for your steam value, everything between -47.37% and +infinity would be called interest.
2. Dollar value of your vote
I've seen multiple people think their votes are worth a few dollars, but that's not possible unless you have 1000's and 1000's of steem power. There is one very important problem to keep in mind: on steemit.com the dollar value of posts and it's vote count are not updated in real-time! On top of that, the dollar value is usually rising every second due to steem power interest. So that is the reason why some of you with an up-vote of $0.03 sometimes see the dollar value rise with $0.50 or more after a vote. You can check your real voting dollar value here.
3 . Voting all day is going to make you a lot of money
Wrong, in fact unless you are a multi-millionaire it's not worth it to vote on more than 20 quality posts each day. If you have less than 1000 steem you're probably not going to make more than 1 steem power a day!
4. People making 1000's of dollars with bad content
That's not completely true. It works just the same as in real life. Some people are millionaires with very little work and some people work 14 hours a day and are broke. Life isn't fair. The only thing you can do is keep posting quality and you will get rewarded sooner or later!
5. You're not allowed to post more than 4 times a day
You are most certainly allowed to post more than 4 times a day, but your 5th and 6th posts reduce the rewards for all posts you made the past 24 hours SIGNIFICANTLY. After the 7th post that day you still get about 30% of the rewards you would get when you make 4 posts. That 30% will slowly go to 0% if you keep posting and posting and posting :)
If you start with 100 steem power, a year later you have 190 steem power so if steem is the exact same value as the year before then you would have received 90% interest.
That's a really, really big "if". It's like saying, "If I have the same amount of gold in a year as I do today, and the demand for gold doubles which would double the price, then I'd make 100% interest." It's not really interest, it's just a mechanism for talking about a rise in demand given a calculated rise in the number of shares to protected vested share holders from dilution.
Well, in the first few years it's not a really big if :)
When the economy stabilized it's never going to double in value each year obviously. In fact there could be years of down trends, just like in EUR, USD or other currencies.
Excellent!