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RE: 5 Months on Steemit - what I have learned and tackling some misconceptions

in #steemit8 years ago (edited)

You don't understand how the monetary system works in Steem. STEEMs are created by dilution like in the case of a stock split. The 800 STEEMs created dilute every other STEEMs created before that. Out of this amount, 90% is paid back to Steem Power holders.

Apparently it is 600 now - I don't see how that is different from any other cryptocurrency but I will take your word for it that you are some kind of expert and understand it better than me.

No comments.

You seem to be very hurt. My post is not a personal attack on you but you seem to be taking it that way. I actually defended you for having some good points in your post but anyway I'm not here to start fights with people.

Yes @smooth has confirmed that the percentage has changed and it is more like 3% of the total Steem produced and I have added an extra bit underneath the appropriate section from the white-paper. As I said I am not a Steem insider so have to rely on the information at hand.

At least I used sources for my quotes.

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