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

I don't understand these two sentences: "The impact of creating new SBD to pay interest is to increase the virtual STEEM supply and reduce the percent of vesting STEEM. As the percent of vesting STEEM

Great post explanation! I'm confused about the ratio of Steem to Steem Power. If I try to buy Steem or Steem Power from blocktrade, it appears 1 BTC will get me the same amount of Steem or Steem Power.