Topic: Steemit.com: Blogging is the new Mining - page 68. (Read 348665 times)

Why don't they update whitepaper then?
New users have no voting power but if one of their post goes to trending list they might get big rewards. It's all about whales votes for now.

No, now it's:

On page 8, the white paper says: "STEEM is constantly increasing in supply by 100% per year . . ."

That's still true, correct?

https://steem.io/SteemWhitePaper.pdf

WTF?! There is an estimated $8000 payout post on the top of trending now (and others >$1000) which is about as high as it has ever been.



Whales not voting just gives more power to the rest of the user base instead of hogging it all. The rewards are from a pool (a fixed number of STEEM is added to the pool every day regardless of voting), so overall the same amount is paid out either way. There was an adjustment period when this was not the case and rewards were temporarily tiny but they are certainly not tiny now; see above!

It is very hard to newbies to make some good money from steemit. Because whales do not voting.. It is pity for me, because my friends, whom i told about steemit have gone away from steemit already, beacause of no rewards((

That was the original rate starting December 1. It declines by 1/2% per year so should be down to around 9.25% now.


A lot of the info in the white paper is completely out of date. To answer your questions.

1. STEEM is the basic coin. If you own STEEM you own a stake in the network (though you have no voting rights unless you power it up; see below)

2. There is no more mining. Consensus is DPoS (although you can vote for yourself and as a backup delegate you will very occasionally get to sign blocks so that gives it a little bit of plain, non-delegated, PoS). You can earn some interest (about 1% per year I think) and get voting rights by powering up (locking) your STEEM. It then takes 13 weeks to power it down. You can also earn by posting and voting on the site.

3. Steem Dollars are supposed to be pegged to 1 USD but the pegging mechanism doesn't respond fast enough to keep up with he surging demand, so Steem Dollars are currently worth quite a bit more (about 2 USD). Over time it should eventually head back toward 1 USD but nobody really knows how long that might take. At this point it is more of a somewhat-stabilized coin worth at least a dollar than a stable coin worth about a dollar.


There is no maximum but the inflation rate declines by 1/2% per year to a minimum of 1%.


There is nothing controlling the price of STEEM other than how it trades in the market. Its price is not capped any more than BTC or ETH would be (unlike STEEM DOLLAR, which has a pegging mechanism, if imperfect).

Price increases on SBD and STEEM rise back to the original price will probably get better when many new users join enliven, at least the price will be stable with the current cheap price.

I was waiting on Decent to launch but I'm finally gonna take the plunge and steemit, just hope these things don't turn to a pile of steaming dog shit  

Steem and Steem Backed Dollar price raise too fast today. I wasn't expecting that. I hope it doesn't effect payments.
Early birds got a lot of voting power, newcomers try to raise attention. It's harder to be popular now.

Ok thanks

my steem account

if you got your long password and name, you can always get it

Where do you guys store your STEEM? Whats best

https://steemit.com/news/@timcliff/new-tool-from-busy-org-create-new-steem-blockchain-accounts-with-steemconnect

How to skip the registration line at steemit.com and make your own steem account easily

posted here by another user of steem blockchain busy.org here https://steemit.com/news/@timcliff/new-tool-from-busy-org-create-new-steem-blockchain-accounts-with-steemconnect

and link here https://v2.steemconnect.com/accounts/create

STEEMIT: Yesterday saw a Mouth Watering, Staggering and Record Breaking 358,654 Transactions registered on the STEEM BLOCKCHAIN..!!

https://steemit.com/steemit/@stephenkendal/steemit-yesterday-saw-a-mouth-watering-staggering-and-record-breaking-358-654-transactions-registered-on-the-steem-blockchain

https://twitter.com/theapptrade/status/867097673521922049

As I understand annual inflation is 9.5% which means if demand grows more than that annualy, the price will follow

It can be done

Hi, I like the website and this project seems very interesting and promising.
But I read the white paper and still can't understand the difference between Steem coins and Steem Dollar coins.
Also, if I understand it correctly you can mine the steem coin?

The circulating supply is 234,214,658 STEEM, is there a maximum ?

And also, if there are more and more users will the STEEM price go up or the price has to be equal to a dollar in the long term?

Because I believe in Steemit and I would like to invest in Steem coins if there is a chance that prices go up.
I tried to find the answers by myself but I'm like kinda new to crypto and the $STEEM seems to be different than BTC, ETH ...
Thanks for answering me

Can't believe this is still a thing..so do I sign up here or wait for Decent?

Above is correct, but to clarify, since this is important and if done incorrectly can lead to lost funds.

You do not need a memo withdrawing from an exchange to your own account (steemit.com wallet). Use your steemit.com account name as the address (as stated above). Be sure to spell the account name correctly.

You do need a memo when transferring to an exchange (or any other service that instructs you to use a memo). Use the account name and memo that the exchange gives you. Be sure to spell the account name correctly and enter the memo accurately.

Use your steemit account name as an address, and specify any memo if needed.

The question I'm having right now is how do I transfer my Polo STEEM to my steemit.com wallet