was just explaining the differences between Bitcoin and Steem in how it is issued to a friend of mine just now, and did some back-of-the-envelope/napkin calculations on it.

Currently there is about $33,960,428 worth of Steem.

33,960,428 × 0.0942 = 3,199,072.3176

This will increase by about 9.42% in the next 12 months, which is $3 199 072.3176

3,199,072.3176 ÷ 365.25 = 8758.58

So every day at current price there is

$8,758.58 per day

being disbursed by Witnesses to the various ends, post rewards, Witness pay, interest payments.

$364.94 per hour

and

$6.08 per minute

and the value of a block (on average, backup witnesses get paid ~5 times more per block but usually not more than one a day), is therefore on average

~$0.30 for every three seconds.

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We can't code here! This is Whale country!

Vote #1 l0k1

_{Go to steemit.com/~witnesses to cast your vote by typing l0k1 into the text entry at the bottom of the leaderboard.}

_{(note, my username is spelled L Zero K One or Lima Zero Kilo One, all lower case)}