Suggest you read the original white paper to get an understanding of where it all started.
And then realize the white paper is out of date and doesn't included changes from the 19 Hard Forks
Biggest changes I am aware of versus original whitepaper:
inflation is now set to 9% per year, versus 100% per year in original whitepaper
power down now takes 13 weeks, versus 2 years to power down in original whitepaper
rewards are now linear with your SP, as opposed to quadratic with SP in original whitepaper. This helps minnows. Originally someone with 10 SP would have there vote count 100X as much as someone with 1 SP. Now that rewards are linear, someone with 10 SP has a vote that counts 10X as much as someone with 1 SP.
STEEM On!!
DaveB
thx for that info lol back to the drawing board. Why is everyone and everything still talking about 100% inflation I wonder.
I did indeed find these numbers in the FAQ just now so thx a lot.
https://steemdaily.blogspot.com.es/2016/11/STEEM-Hardfork-Version-0.16.0-Informative-Post-keeping-up-with-Steemit-is-Development-on-GitHub.html
Found this link, which is quite old so this change to 9% was last year but still I see recent youtube video's of internet guru's claiming the 100% inflation this seems ridiculous. Because every serious investor would read the white paper.
Am I missing something here?
It appears to me there are not enough of the original development team left to care about updating the white paper, etc.
The most negative and cynical portrayal is Dan Larimer built steemit as a toy to dabble in social media. He lost interest and moved on to Bitshares and then on to EOS. Ned has been left behind to tend over the slow demise of steemit.
That is the most cynical summary.
There may be other explanations
cheers Dave!