DATE : 8 / 22 / 2016: STEEM not invested in SteemPower rose again today by 698,964 . This large amount is due to @steemit (the company) powering down .
Study closely the spreadsheet and charts below. I will try to update 6 days a week.
GLOSSARY OF SPREADSHEET TERMINOLOGY :
Current_Supply = ...Current supply of STEEM
Total_Vesting_Fund_ Steem =... Total STEEM invested in SteemPower
Total_Vesting_Fund_ STEEM AS % of CURRENT SUPPLY =... Total STEEM invested in SteemPower as a % of total steem
Column C-D STEEM NOT INVESTED IN STEEM POWER =... Total number of steem not invested in SteemPower
NUMBER of STEEM not invested in SteemPower daily increase or decrease =... The daily increase or daily decrease of steem not invested in SteemPower
STEEM PRICE BTC - STEEM =... Price of steem to btc on Bittrex
STEEM PRICE $$$$ - STEEM = Price of steem in $ dollars on Bittrex
SBD PRICE $$$$ - SBD = Price of sbd in $ dollars on Bittrex
The total number of STEEM not invested in SteemPower rose again today from 5,297,075 yesterday to 5,996,039 today . That's an increase today of 698,964 STEEM not invested in SteemPower .
In the chart below you can see the STEEM price as the red line and the total number of STEEM not invested in SteemPower as the blue column.
NOTE: The blue column in new highs today.
CHART # 1
Notice the three large blue column spikes: This is Steemit (the company) powering down in order to get STEEM to fund new accounts and sell to fund development. I assume this weekly occurrence of powering down will continue .
In the chart below you can see the STEEM price as the red line and the daily increase or decrease of STEEM not invested in SteemPower as the blue column.
CHART # 2
These nearly 700,000 Steem ( from @steemit weekly power down ), which @Steemit (the company) has indicated are to be used to fund new accounts and sold to fund development. Currently 3 STEEM per new account is being given away by @Steemit (the company) . If 1000 new accounts are created each day, that would be 3 Steem X 1000 new accounts = 3000 Steem per day x 7 days = 21,000 Steem used for new accounts of the nearly 700,000 Steem powered down every week.
Does that mean the rest is going to fund development ?
I know you're thinking "Sold to fund development? What does that mean?". I would assume that means STEEM is being sent to the exchanges to be sold to speculators, or STEEMIT members wanting to power up.
Another thought: Does "sold to fund development " include the posting and curating rewards ?
Please feel free to comment on this question in the comments below.
What is a vest equal to :
8/17/2016 : A vest is equal to $419.36
8/22/2016 : A vest is equal to $425.36
How much Steem is mined per day and where does it go ?
It is my understanding that approximately 800 STEEM are mined every minute that is 48000 STEEM per hour and 1,152,000 new STEEM per day.
This next information is taken from the whitepaper : After the first month, Steem miners are paid in Steem Power (SP). SP is liquidated through the two-year process of “powering down.” This means that miners must wait for a long time,likely many months, before sufficient mining rewards have been powered down to allow
them to recover the cost of electricity and computational resources.
We all can assume that the miners after receiving their SP payment will power down most of their payment to cover costs . By doing this they will be getting some income every week. Let's say every week the miners power down . Here's an example : A miner mines 104 STEEM a week he then powers it down That means he will receive 1 STEEM every week for 104 weeks. Another week goes by he mines another 104 STEEM he then powers it down,Now he is receiving 2 STEEM a week and so on. After he has mined 104 weeks he is receiving 104 STEEM every week from powering down every week assuming he continues to mine.
Based on the data points above, SP from mining being powered down should reach a plateau at some future point in time .
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