Thank you for responding @isteemd.
We were just highlighting the fact that keeping the currency risk aside, if you are a long term steem investor, then the delegation market returns far beats any other market returns consistently which is a unique capability of steemit.
What I am trying to tell you is that this "currency risk" has to be accounted for. It is true that right now in a volatile market, it seems like it is seperate but it is not. Let's take stocks as an example. Some stocks payout dividends and some do not. Dividends can be compared to the profit you get from delegating. And the currency risk would be the stock price. Putting aside the currency risk, would be the same as saying that a stock is profitable if the dividends pay well while the stock price has declined more than you get from your dividends. I think that would not count as profit.
futurethinker is right
But even if the steem price does not drop, what about the 15% return? What's the economics behind it?
Also I have to appreciate the isteemd service as on of the best made here on steemit we have to look at the basic economics here.
So the APR should attract institutional investors. They delegate their voting power to you. You upvote whatever people are paying for.
By this there is ZERO economic value generated.
If you are successful and more and more investors target that passive income, less and less relative voting power will stay with those reading, curating and posting real content. So steemit profits only by inflow of fiat from the new passive investors into steem tokens and as soon as this ends it will all fall apart... This will just be the ultimate nail in the coffin.
If you find a way to offer differentiated pricing for your voting services in regards to the value of the content voted for this should be much better.