Dam i didnt realize how informative your videos are. I always wondered but had no idea about the number of actual coins being minted daily and the size of the reward pool. Thank you for this video the others you have made.
What a beautifully simple video explaining the reward pool for all of us. So, the reward pool is going to derease every year due to inflation rate decline. That means we won't get much Steem in future. But, we will get less number of Steem which is more valuable that it is now.
One question though. Would Steem Dollars keep existing in the reward system even when @steemprice (a bot by @blueorgy) goes higher? Steem Dollars will be way less valuable than they are right now (I didn't do the math though). What do you say?
Yes, going forward... the rewards pool has no ceiling as far as how much value it can distribute everyday, and I imagine the price of Steem will rise a lot faster than inflation will decrease.
I imagine that the function of Steem Dollars will be reevaluated by the community at certain points in the future, especially in the possible event of a US dollar collapse. But I don't see it going anywhere soon.
It depends on how fast the price rises... but my guess is that the price of Steem will rise a lot faster than inflation will decrease. The value of the rewards pool has no ceiling. But also, if Steemit scales to the masses, at some point I think it will become just a site that everyone uses (like youtube, reddit, Facebook) rather than a place to try and make a lot of money. i.e. lots of early adopters of youtube make lots of money but that doesn't keep everyone else from using it just like any other social media platform.
so at some point it wont be about the money right?cos i think the more users we have on steemit, the more the number of steem transactions and that would give value to steem.
Unbelievable video @dan-atstarlite! It's amazing how you took the jumbled mess in my head about the rewards pool and what it meant to us and cleared it up in less than 4 minutes.
I just discovered your youtube channel and I love your content. As a steemit newbie, you provide great value. Keep making these. I'm soaking all this stuff in.
If I were a superhero I would want my power to be to ejaculate Steem everywhere..... that way I'd never be without my precious Steem! Upvoted and followed!
Just got your link from someone and your video explains this really well. Thank you so much that was rather confusing before but feels quite clear now. Take a Tip! for that.
Great explanation! It looked like you didn't even have a cheat sheet. You are really good at explaining things and keep your cool. I saw that one guy's message about how Steem and Steemit were going nowhere. You explained to him very well why he should look into it again.
On the off chance that I were a superhuman I would need my energy to be to discharge Steem everywhere..... that way I'd never be without my valuable Steem!.
Thank you for the in depth explanation @Dan-atstarlite!
This Post was Added to the Steemit Social Media Queue.
Dam i didnt realize how informative your videos are. I always wondered but had no idea about the number of actual coins being minted daily and the size of the reward pool. Thank you for this video the others you have made.
Resteeming this jewel.
What a beautifully simple video explaining the reward pool for all of us. So, the reward pool is going to derease every year due to inflation rate decline. That means we won't get much Steem in future. But, we will get less number of Steem which is more valuable that it is now.
One question though. Would Steem Dollars keep existing in the reward system even when @steemprice (a bot by @blueorgy) goes higher? Steem Dollars will be way less valuable than they are right now (I didn't do the math though). What do you say?
Yes, going forward... the rewards pool has no ceiling as far as how much value it can distribute everyday, and I imagine the price of Steem will rise a lot faster than inflation will decrease.
I imagine that the function of Steem Dollars will be reevaluated by the community at certain points in the future, especially in the possible event of a US dollar collapse. But I don't see it going anywhere soon.
Hard to predict when the Dollar will collaps, but most likely within the next 10 years.
Yes
If the pool goes to 0 what will happen? Will they need to increase mining output? Make it so there is more steem mined per year?
Still confusing to me honestly.
@steemprice 😉 Sorry the bot was overwhelmed during its introduction so It couldn't reply to you (Will have work on that if it becomes popular)
$1.228 USD/STEEMVolume: 1.8484 BTC, 3755 STEEM / Average Price: 0.00049217Last Updated Tue Jul 25 18:54:42 2017Thanks for a useful post and simple, clear explanation. Upvoted and followed
Does this suggest that as more and more members join, that newbies will have an increasingly hard time getting traction here?
It depends on how fast the price rises... but my guess is that the price of Steem will rise a lot faster than inflation will decrease. The value of the rewards pool has no ceiling. But also, if Steemit scales to the masses, at some point I think it will become just a site that everyone uses (like youtube, reddit, Facebook) rather than a place to try and make a lot of money. i.e. lots of early adopters of youtube make lots of money but that doesn't keep everyone else from using it just like any other social media platform.
so at some point it wont be about the money right?cos i think the more users we have on steemit, the more the number of steem transactions and that would give value to steem.
Yes! The "network effect" should make STEEM more and more valuable!
Incredibly thorough, informative and simple explanation. You answered a couple of questions I wasn't quite sure of. Great video brother. Re-Steemed
What a great break down... nice shaded by the way :)
Hi! Your video is quite informative and answers a number of questions I had all these days. Thanks! Upvoted.
Great post this is very informative something every steem user needs to know.
What's the fate of the rest that does not get it to the rewards pool?
10% goes to the witness and 15% goes to Steem Power holders
Unbelievable video @dan-atstarlite! It's amazing how you took the jumbled mess in my head about the rewards pool and what it meant to us and cleared it up in less than 4 minutes.
I just discovered your youtube channel and I love your content. As a steemit newbie, you provide great value. Keep making these. I'm soaking all this stuff in.
If I were a superhero I would want my power to be to ejaculate Steem everywhere..... that way I'd never be without my precious Steem! Upvoted and followed!
Just got your link from someone and your video explains this really well. Thank you so much that was rather confusing before but feels quite clear now. Take a Tip! for that.
Glad it helped... and thanks for the tip 😎
If you can dream it , you can steem it @dan-atstarlite
Great explanation! It looked like you didn't even have a cheat sheet. You are really good at explaining things and keep your cool. I saw that one guy's message about how Steem and Steemit were going nowhere. You explained to him very well why he should look into it again.
Great explanation, resteamed and following.
Thanks!
That makes it very clear to me. Thanks Dan.
Tell me the secrets, oh health guru (-: peace !
On the off chance that I were a superhuman I would need my energy to be to discharge Steem everywhere..... that way I'd never be without my valuable Steem!.
This info is needed. Glad that you have explained this in great detail. It has decreased quite a bit since HF19
Wow..
Great post, especially for a much newer users like myself. Upvoted.
Very good info :) I like it :)
Thank just watched your youtube video. I learned a lot about the Rewards Pool
Full steem ahead>>
Thanks @dan-atstarlite . The video is useful to newbies like me.
Thanks for the explanation.
thank you for a clear and useful explination
hey Dan thanks for posting that, very helpful !
It is good that in the future we can still expect a good return for our steems.
Insightful! Upvoted and resteeming.
*Commenting for later
Hi @dan-atstarlite! @flauwy is sending you 0.1 SBD tip and @tipU upvote
:)
send tips with @tipU | earn interest in @tipU profit