how does the blockchain create new steem?
RE: Reward Pool - Understanding the Concept
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Reward Pool - Understanding the Concept
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I stole the response from inertia he answered this elsewhere on the thread.
[-]inertia (70) · yesterday
It is a fixed amount, for example, here is the current reward fund, according to @banjo:
Total Reward Fund: 716,658 STEEM (Worth: $3,150,429 internally; $3,923,737 on Bittrex)
It is my understanding that this amount is for 7 days of rewards. It fluctuates but typically stays within the same order of magnitude no matter how many people vote
As to the actual mechanics of it, I don't know... Programmers write code and the blockchain complies. I don't have a working knowledge of the "how it works" just concept level.
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There is nothing we can actually know, my friend.
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lol i thought you were just a bot on steemspeak... didnt know you had a steemit account
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That's funny actually, my name was Luna in Spanish class.
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lol
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No it stands for 'laughing out loud' you dummy.
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You're so nice for commenting on this post. For that, I gave you a vote! I just ask for a Follow in return!
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Now thats random. Tell me about yourself.
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hm, yeah i knew it was a huge amount of money every two weeks that got generated... yeah i was wondering if there are miners or does the blockchain mine itself?
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