Out of curiosity, anyone know how the steem supply has been going down recently? From a high of 241 million down to 233 million.
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Out of curiosity, anyone know how the steem supply has been going down recently? From a high of 241 million down to 233 million.
Yes, the price goes up so the STEEM required to back the SBD falls.
AHH, this makes perfect sense. Thanks Dan.
Tell or Force @steemcleaners to stop false flagging. He himself is profiting on just the publicity of it alone. Ironically this post is relevant to the post I made https://steemit.com/steem/@sk828man/start-mining-steem-w-genesis-added-option-for-ethereum-contracts
I tagged you in the comment, would appreciate a response, thanks.
There are two numbers - the "circulating supply" which is 233m and the "total supply" which is around 250m. My understanding is that the difference between these two numbers is the cash held by people within or related to the company. Its explained (to a much higher degree) by @dantheman in the below article: https://steemit.com/steem/@dantheman/how-to-calculate-the-market-capitalization-of-steem
Dan explained below. Steem is held to validate the value of all SBD present, as it is pegged to $1 of steem. The higher the value of steem, the less is required to maintain that backing of SBD, so the total supply is reduced.
Its fairly interesting when you dig into it.. According to @dantheman "Steem Dollars are convertible to STEEM at the current price of STEEM. This means that all Steem Dollars could be converted to “common stock” in less than one week which in turn would instantly adjust the market capitalization of Steem."[https://steemit.com/steem/@dantheman/how-to-calculate-the-market-capitalization-of-steem]