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RE: How do you like those big Ned delegations now?
It appears that crypto is recreating the dotcom boom. During the boom the greedy people at the center undermined all the people around them and caused the market to bust.
That appears to be what happens in most of the market crashes. The people controlling the exchanges and banks undermine the people at large.
Speaking of the math ... do you know the amount being added to the award fund each day. SteemD reports the fund is 785,949 STEEM but gives no context for the number. My guess is that they add about 70k a day.
That number is a 30 day compilation.
The blockchain creates so much steem per block.
Witness producer rewards are 10% of the steem created each block.
Just multiply one of those by ten, and every 3 seconds that much is created.
That is a great way to calculate the number. SteemD.com indicate witnesses get 0.21 per block . So, 0.2112606010/3 equals 30420. That is about half of what I thought it was.
75% of the steem created by each block goes into the rewards fund.
15% goes to sp holders according to how much stake they have.
The rich get richer, by design.
This is a relatively minor problem compared to the things the ruling elite built into Wall Street and the banking system.
The sad thing is that, by concentrating on this short term profit, the creators of the exchange may have built a system destined to crash.
No matter how low the price goes, the creators already have their money.
You can bet that the banksters sold on the high.
Now they want it to go low enough to get back in.