DAILY STEEM REPORT NOVEMBER, 8TH ( STEEM - 7.19% )
The final release for the new economic Steem model will be attempt by tomorrow 9th! The Hardfork is tentatively set to November 16th.
This hardfork will finally require all witnesses to migrate to the ChainBase implementation. Things that have been implemented:
- Instantaneous Annual Inflation set to 9.5% (except for Steem Dollar variance / interest)
- 75% of inflation awarded to reward pool
- 15% of inflation awarded to Steem Power
- 10% of inflation awarded to witnesses
- top 19 witnesses receive 1/5 the pay per block of miners and runner up witnesses
- no more reward for including a POW transaction in a block
- price feed median period changed from 7 days to 3.5 days
- Steem Dollar conversion delay changed from 7 days to 3.5 days
There are two things left to be implemented:
- Equihash
- Expiration of Witness Votes after 3 months
Due to the desire to deploy these changes rapidly, we will retract the $500 bounty if it is not completed by Monday morning 7th November. This schedule is tentative and may be subject to change if testing discovers issues.
Wow, these are fantastic news! Dan really wanna do the changes very quick!
Steem is back down again, which was predictable, Steem's inflation is still to high....
If the Hardfork comes at the 16th, the inflation rate gets reduced, liquid Steem will decrease and Steem price will go up, plus Steemfest is on its way this weekend, there is only one conclusion.... Buy Steem before the weekend, guess it will be never cheaper again ......
If you like the Report please follow, re-steem, upvote and comment.
Note: 100% of the payout of this post will be paid out in Steem Power!
Great info , Thank You
I'm just going to be open and honest about my ignorance: what exactly is the hard fork?
Just a permanent change?
Thank you for the reports. :)
Not permanent. They split the code into two chains and choose the one that is upgraded to continue on.
A change of the code base / parameters of the chain, which will require witness/miner consensus. So only update able with a majority consensus. Smaller updates can be done via "soft fork" .. UI updates etc .. they would not have to go through the witness approval
Thanks to @summon, as well. Now I'm hoping I don't get more replies, since now that I started thanking people, I would need to thank people individually, and it would get awkward fast. :D
Thank you, @acidyo.
Upvoted and shared on Twitter✔ for my followers to see what they are missing. STEEMIT ROCKS..!! Thanks again for sharing another great set of stats. Stephen
https://twitter.com/StephenPKendal/status/795961263411134465
Disclaimer: I am just a bot trying to be helpful.
I'll probably buy some more STEEM at Poloniex today if everything stays steady like it's been the past few days.
About: "Buy Steem before the weekend, guess it will be never cheaper again"
Sorry, but if it power down is quicker now, won't people be encouraged to power down and so there will be Steem flooding the market, decreasing even more the price?
Thanks
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