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RE: Inflation as a Platform Cost. Another Look at Stake

in #steem6 years ago

Okay... But now I see what you are saying when you say that self voting is fundamentally neutral (slightly negative, even) so this was very useful.

Well, it's only sort of true in that sense, and maybe my original comment was misleading, because the inflation rate, the Steem/MVest rate, and the vote value all have different denominators. The inflation rate is based on total Steem supply, the Steem/MVest rate is based on total stake, and the vote value is based on total rshares used in rewards calculations.

@preparedwombat had a very good post about how the Steem/MVest system works yesterday.

For the voting sense, this means that a self-vote is worth considerably more than inflation because every Steem that's liquid, every account sitting at 100%, every vote on a declined-rewards post, and every downvote inflates the relative value of a vote against the inflation rate, whereas only the witness rewards and the "interest" deflate it.

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Ah yes, the devil is in the details. I roughly know how that works, and it definitely is an important distinction. Earlier I was going down the rabbit hole about how that claimed rshares worked and even that's a little... Odd let's say.