The sun is out at the moment and I took these shots on my phone as I walked the dog. It would be nice to be out and about but since our daughter is still ill, the furthest she and I will go is to the supermarket to get more food for her, which I will prepare in the evening. Everything takes time.
I have some questions about the talk of forking Steemit Inc's accounts. What about all the others that mined at the same time? What about all of those early adopters who were getting massive upvotes from those mined Steem, the voted that have them the foundation to be whales? What about all the Steem that they sold that was only pulled from the pool because of that mine? What about the rest that is on the exchanges?
As of 2 days ago taken from 
Total amount of STEEM stored on all exchanges:
- 62,728,210 STEEM
Total STEEM supply:
- 294,170,410 STEEM
Liquid STEEM:
- 86,755,697 STEEM
Year - Supply - Inflation - New Supply
2016 250,000,000 9.50% 23,750,000
2017 273,750,000 9.08% 24,854,398
2018 298,604,398 8.66% 25,854,554
2019 324,458,952 8.24% 26,727,942
The blockchain is about 3 years old and has paid out something like 25 million Steem a year, so 75 million Steem this far. That means that 80% of what has been paid out resides on an exchange and 110% of what has been paid out is liquid. Hang on, what?
Yes, there has been increased inflation because of the SBD conversion but if there is 294 million Steem, the blockchain has paid in reward 75 million and Stinc mined somewhere around 75 million, does that mean there is about 140 million more that is missing? Wasn't that mined stake also?
Most of the early adopters did not buy into Steem, they mined or were the direct beneficiaries of mined stake. Many of them were circle jerking with a curation trail that have tiny votes to the community and large votes to themselves. Many of them were given delegations like sweetsssj who has abused this platform at haejin levels for 3 years consistently.
Where is the consistency of action? If the ninja mine is considered "illegal" by the witnesses, aren't all beneficiaries receiving the proceeds of crime, taking possession of stolen goods? Should they have to pay back the equivalent Steem to the community? Not much of that 63 million on exchanges is Stinc's and with 200 million powered up, from larger accounts, it can't only be attributed to small sellers or spammers and scammers who are earning a few Steem a week.
It is interesting that while everyone is up in arms about Stinc's stake, what about the 140+ million that is or there, where did that come from? Interest comes from the inflation pool, the 10% for witnesses comes from the inflation pool, the votes come from the inflation pool. That is ~75 million.
Well, I don't know but there is a total supply of 294 million Steem and 200+ million of it didn't come from the inflation pool. So, where did it come from?
This is not my area and I have no way of working it out and I do not have the history of the blockchain, someone must be able to answer though I suspect.
Glad the sun is out, even if stuck inside.
Taraz
[ a Steem original ]
(posted from phone)