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RE: TLDR Steem Whitepaper - Upvoting and Value

in #steemit • 9 years ago

Yes it would be at the current ratio at the time of that weeks payment. From the whitepaper on p9:

SP can only be converted back to STEEM over 2 years via 104 equal weekly payments. '1SP' can be viewed as a share in a pool of STEEM. The network automatically adds STEEM to the pool every block. At any time users can convert their STEEM into SP at the same ratio as STEEM in the vesting pool to total SP. Converting STEEM to SP does not dilute existing holders of SP. Likewise, every time SP is converted back to STEEM it is done at the current ratio. Individuals are guaranteed to have more STEEM in the future than they have when they first convert from STEEM to SP.

"Likewise, every time SP is converted back to STEEM it is done at the current ratio."

9 years ago in #steemit by
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     9 years ago 

    Thanks for that!

    And I think I am seeing information on that ratio here: https://steemd.com/distribution

    Currently, it reads:
    Generated 2016-07-12 00:01 (UTC)
    1 SP = 1M VESTS = 209.545 STEEM = $61.816
    and I assume it is updated, at least on steemd.com, once a day at 12 00:01 (UTC).

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