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RE: If you hold Steem Power, you're earning STEEM automatically
Quick answer, about ~1.33% APR.
We get that from 15% of total inflation (our 8.89% number) going to Steem Power holders.
Not quite. The effective rate is really more like 1.8% APR.
It would be 1.33 if all Steem was in the form of Steem Power. But liquid Steem earns no interest.
I did a post about the difference between the nominal APR and the effective APR on interest earned about 8 months ago:
https://steemit.com/steemit/@preparedwombat/how-much-interest-does-your-steem-power-earn-i-finally-figure-it-out
No where in your post do you reference the global variables the blockchain uses to make these calculations. It's not "interest" but inflation. That inflation is based off the changing rate of VESTs to STEEM. The rules are 15% of the total inflation goes Steem Power. To get the rate of inflation, you use this formula:Are you saying that's not correct?If 15% is the correct amount of total inflation that goes towards Steem Power holders and the total inflation is 8.89%, how could we get any other number but 1.33%?Am I missing something?Please, show your work to how you're getting the numbers you're getting using the same global properties the blockchain uses.
EDIT: Yep. I was missing something. :) The "total inflation" can not be thought of as a percentage to be multiplied against. It's more accurately an amount of tokens determined by a formula which uses the virtual supply.
Dude you are a wizard, good catch! And amazing work by the author.