Good overview Wry. Two points of clarification I've been curious about: I think the general inflation that occurs and is distributed to holders of SP occurs in SP, not in STEEM. I know the whitepaper says that the supply of STEEM doubles, but I think they mean the combined supply of STEEM, SP, and SMD (as valued in STEEM, because STEEM is the unit of account). Hence, the STEEM balance of my wallet doesn't increase but the SP balance does. I think that's how it works - do you?
Also, when people power down, is their entire SP taken out of circulation while it's being paid out in installments or just powered down in installments? So if I have 104 SP and power down all of it, I get 1 SP per week. But am I also earning SP as a SP-holder on my remaining SP balance, even though it's been committed to STEEM over the course of two years?
Thanks! I agree, I haven't found any great explanations of the rather complex mechanics. This is great! If I had more SP, my vote would be worth more!
Thanks @mchwierut ! Yes one the issues writing posts for new users is they don't have a lot of power, but it's cool, I really appreciate your upvote and your thoughtful reply! As to your questions....
You are correct, the STEEM "doubling" is paid out in steem power. This is one of the more interesting aspects of the system, nobody can dump all at once and the inflation is spread out by the need to power down over two years.
On your second question I am not sure. However, my best guess is that you do NOT get more SP for being a SP holder for the amount that is powering down.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit