Viewing a response to: @haphazard-hstead/re-oaldamster-posts-from-the-past-steem-for-noobs-20161024t221349038z
As far I understand the reset is a division of the amount of Steem by 10. And next the multlipication of 10 for it's value. This is mainly because the extreme huge numbers that are involved. That will be difficult in their use after a few years. The value of VESTs is in millions, for a few thousand of SP for example. The actuall value represented in US $ should stay the same. And the exchanges would follow this. It is a ratio change, don't think they want to mess about with that. Some huge numbers involved: In 3.25 years the growth of Steem Power could be somewhere around 1'230'746'400. If these represent 2500 VEST per SP then that would become something my deskcalculator allready doesn't like. So, that would make a reset divide amount by 10 & multiply value by 10 understandable. - I will dive into the whitepaper again one of these days, just to make sure I have not overlooked something important.
post_id | 1,240,707 |
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author | oaldamster |
permlink | re-haphazard-hstead-re-oaldamster-posts-from-the-past-steem-for-noobs-20161025t053849267z |
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Thanks. That's like a big stock consolidation, too, I guess. When I think of all the commercial stock exchanges and how they handle partial shares, splits, and consolidations, the challenge for Steemit accounting is more clear to me. Big, big numbers, indeed. Thanks for your explanation!
post_id | 1,250,172 |
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author | haphazard-hstead |
permlink | re-oaldamster-re-haphazard-hstead-re-oaldamster-posts-from-the-past-steem-for-noobs-20161026t194050317z |
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You're welcome, glad I could help.
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permlink | re-haphazard-hstead-re-oaldamster-re-haphazard-hstead-re-oaldamster-posts-from-the-past-steem-for-noobs-20161026t194050317z-20161026t22924814z |
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