How Big is The Rewards Pool? and How Much STEEM is Paid Out Everyday?

hilarski (76) · 7 years ago

Thank you for the in depth explanation @Dan-atstarlite!

This Post was Added to the Steemit Social Media Queue.

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sneakgeekz (56) · 7 years ago (edited)

Dam i didnt realize how informative your videos are. I always wondered but had no idea about the number of actual coins being minted daily and the size of the reward pool. Thank you for this video the others you have made.

Resteeming this jewel.

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ilyastarar (64) · 7 years ago

What a beautifully simple video explaining the reward pool for all of us. So, the reward pool is going to derease every year due to inflation rate decline. That means we won't get much Steem in future. But, we will get less number of Steem which is more valuable that it is now.

One question though. Would Steem Dollars keep existing in the reward system even when @steemprice (a bot by @blueorgy) goes higher? Steem Dollars will be way less valuable than they are right now (I didn't do the math though). What do you say?

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14 votes

dan-atstarlite (66) · 7 years ago (edited)

Yes, going forward... the rewards pool has no ceiling as far as how much value it can distribute everyday, and I imagine the price of Steem will rise a lot faster than inflation will decrease.

I imagine that the function of Steem Dollars will be reevaluated by the community at certain points in the future, especially in the possible event of a US dollar collapse. But I don't see it going anywhere soon.

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joewilder (44) · 7 years ago

Hard to predict when the Dollar will collaps, but most likely within the next 10 years.

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clumsysilverdad (64) · 7 years ago

Yes

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truthforce (66) · 7 years ago

If the pool goes to 0 what will happen? Will they need to increase mining output? Make it so there is more steem mined per year?

Still confusing to me honestly.

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blueorgy (67) · 7 years ago (edited)

@steemprice 😉 Sorry the bot was overwhelmed during its introduction so It couldn't reply to you (Will have work on that if it becomes popular)

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steemprice (46) · 7 years ago

$1.228 USD/STEEM
Volume: 1.8484 BTC, 3755 STEEM / Average Price: 0.00049217
Last Updated Tue Jul 25 18:54:42 2017

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elaine54 (53) · 7 years ago

Thanks for a useful post and simple, clear explanation. Upvoted and followed

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preparedwombat (70) · 7 years ago

Does this suggest that as more and more members join, that newbies will have an increasingly hard time getting traction here?

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dan-atstarlite (66) · 7 years ago

It depends on how fast the price rises... but my guess is that the price of Steem will rise a lot faster than inflation will decrease. The value of the rewards pool has no ceiling. But also, if Steemit scales to the masses, at some point I think it will become just a site that everyone uses (like youtube, reddit, Facebook) rather than a place to try and make a lot of money. i.e. lots of early adopters of youtube make lots of money but that doesn't keep everyone else from using it just like any other social media platform.

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darkerhorse (53) · 7 years ago

so at some point it wont be about the money right?cos i think the more users we have on steemit, the more the number of steem transactions and that would give value to steem.

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dan-atstarlite (66) · 7 years ago

Yes! The "network effect" should make STEEM more and more valuable!

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orionschariot (57) · 7 years ago

Incredibly thorough, informative and simple explanation. You answered a couple of questions I wasn't quite sure of. Great video brother. Re-Steemed

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stackin (78) · 7 years ago

What a great break down... nice shaded by the way :)

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sandzat (53) · 7 years ago

Hi! Your video is quite informative and answers a number of questions I had all these days. Thanks! Upvoted.

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mrtip365 (42) · 7 years ago

Great post this is very informative something every steem user needs to know.

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teodora (64) · 7 years ago

What's the fate of the rest that does not get it to the rewards pool?

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dan-atstarlite (66) · 7 years ago

10% goes to the witness and 15% goes to Steem Power holders

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karencarrens (58) · 7 years ago

Unbelievable video @dan-atstarlite! It's amazing how you took the jumbled mess in my head about the rewards pool and what it meant to us and cleared it up in less than 4 minutes.

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electricsheeple (42) · 7 years ago

I just discovered your youtube channel and I love your content. As a steemit newbie, you provide great value. Keep making these. I'm soaking all this stuff in.

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splatterhaus (53) · 7 years ago (edited)

If I were a superhero I would want my power to be to ejaculate Steem everywhere..... that way I'd never be without my precious Steem! Upvoted and followed!

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flauwy (73) · 7 years ago

Just got your link from someone and your video explains this really well. Thank you so much that was rather confusing before but feels quite clear now. Take a Tip! for that.

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dan-atstarlite (66) · 7 years ago

Glad it helped... and thanks for the tip 😎

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journeyoflife (67) · 7 years ago

If you can dream it , you can steem it @dan-atstarlite

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brianphobos (70) · 7 years ago

Great explanation! It looked like you didn't even have a cheat sheet. You are really good at explaining things and keep your cool. I saw that one guy's message about how Steem and Steemit were going nowhere. You explained to him very well why he should look into it again.

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themarkymark (78) · 7 years ago

Great explanation, resteamed and following.
Thanks!

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helo (70) · 7 years ago

That makes it very clear to me. Thanks Dan.

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prodoe-meshace (37) · 7 years ago

Full steem ahead>>

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melih (51) · 7 years ago

Thanks @dan-atstarlite . The video is useful to newbies like me.

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foxkoit (70) · 7 years ago

Very good info :) I like it :)

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david777111 (61) · 7 years ago

Thanks for the explanation.

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macbaren (60) · 7 years ago

Thank just watched your youtube video. I learned a lot about the Rewards Pool

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