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RE: Consider Buying Steem. Be an Owner, not a Renter.

in #steem7 years ago

Thank you!

Unfortunately, what I said there was incorrect. I've edited it to read:

Currently, even just holding Steem Power gives you 6.7% of the 9% total inflation over the course of a year caused by newly created Steem

Like most blockchains, Steem is creating new currency all the time. Unlike proof of work systems, delegated proof of stake gives a big portion of the newly created Steem to authors and curators. The 6.7% number isn't a direct interest rate, but the percentage of the total inflation amount created by new currency (currently around 9%). I hope that makes sense. Takes a bit to wrap the head around it all. :)

I'm really encouraged to hear you're learning from my blog. Thank you!

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If only my fiat wallet paid that much in interest! I would appreciate 0.01% versus 0% - which ironically is about what a savings account pays lol. Just seen that you live in Nashville, I'm 20 minutes up the road in the city sharing a name with the nations capitol. Congrats on paying off your house! That's also encouraging to hear.

Very cool! We should get a Steemit meetup going eventually.

That's a good idea. We may open the area up to awareness at the same time.