The Whitepaper is out of date, unfortunately. The rate new steem is created and issues to Steem Power holders has changed so you don't have as much share dilution protection as before, but that also means there is less inflation all around which helps everyone. I am Norbert entirely sure what's the rate is now, but I believe it should less than 10%. I think @andrarchy is working with steemit to update the whitepaper.
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Thanks Luke, I will keep an eye on this - it's really useful to know as it does effect us all a lot ;-)