Quote from: JoeyD on April 10, 2016, 01:56:42 AM

Quote from: abit on April 09, 2016, 09:42:40 PM
Rate limited free.

My best guess, is that you mean transfers between accounts are free up till bandwidth limitations.
So instead of transaction fees, the network pays for itself by inflation of STEEM then?

I still don't understand how the conversion from STEEM to VEST works. After ctrl+f-ing through the bitcointalk forums, I finally found a little remark that paraphrasing states, that 1 STEEM is converted to VEST first time any miner turns witness. Looking at the bottom a website with the VEST-richlist, that seems to suggest that Conversion rates are little over 4% and dropping. So I guess the conversion rate is dropping, but I can't figure out what mechanism or rule is in effect.

EDIT
Corrected a mistake, it's 4% not 40%. Decimals be damned.

Your question is answered here:
https://bitcointalk.org/index.php?topic=1410943.msg14454864#msg14454864

I'm here from bitcointalk. This thread seems to be a little meatier than the bitcointalk thread. I like the technical info although I have no idea what a brownie is.

About my involvement in STEEM: I've mined this coin since before it launched  :P

I'd like to run a delegate/witness node, so here is more:

I have been following crypto for about 2.5 years now and it was only a few short months after my first purchase of BTC before I started getting involved on the development side. Lately, I have been working with the Eclipse dev team as a programmer. To clarify things, we have several devs. I am the lead (overly-outspoken) programmer. We also have an administrative dev and a cryptography expert. We are all "equals", leading different parts of the project.

I have expertise in enough programming languages not to bother mentioning them all. One language I will mention is C++ because much of crypto is written in it. I've studied cryptocurrency code so much that I can read through it like a newspaper and can spot logic bugs without even running the code. I have written a lot of cryptocurrency code for many projects.

I have many years of experience in system administration, setting up long running networks both as a consultant and salaried professional.

If I run a witness, I will do so using a top-tier cloud platform like google, amazon, or azure.

I prefer my witness account to be "steemed" if I am selected. I also have steemroller and steemer, and many, many others.

I have been putting everything into vests, even at the low rates we have been getting now. I was probably one of the first people with vests after relaunch.

I'm excited to see where this project will go. I have been recruiting new participants behind the scenes, and even helped a few people at BCT both on the board and privately.

Even if I didn't have a stake in this project, I'd be enthusiastic about its progress as the devs' goal is one of the well known killer dapps that will serve a useful purpose to society.