My weekly look at Blurt's economic indicators.
All rises and falls are relative to last week.
Blurt Economic Indicators
BLURT Supply = 480.36 million (+730k)
Vested BLURT (BP) = 56.2% (+0.0)
BP Voting Capacity = 49.9% (+0.6)
Reward Pool = 1.940 million BLURT (-0.004M)
Recent Claims = 202.3 TRshares (+2.8T)
Vote Yield estimate (100k BP) = 19.7% APR (-0.3)
Author/Curation Yield estimate = 9.8% APR (half of the Vote Yield)
SWAP.HIVE:SWAP.BLURT Average Yield = 12.3% APR (BeeSwap)
You can also see the raw numbers on a blockchain explorer.
Tutorial: Blurt Economic Indicators Explained
Insights
Still oscillating around the 20% APR vote yield. This week sees an uptick in activity - as can be seen in both the voting capacity and the recent claims - and hence a small drop in yield.
I have added one small metric; not actually new, as such, but have added one extra precision point to the BLURT supply, and shown the weekly change. There is no point being more accurate as the values also depend on when I take a reading. As can be seen, this last week created 0.73M (730k) net BLURT. This is not precisely the minting rate as it does include those tokens burnt from fees, hence is the net change.
Also note, that buying BLURT is not only to power-up, but there is also the Tribaldex pool, shown above, that yields more than voting, and can be used as a passive source of some income. Note that the liquidity yield has dropped somewhat in the last 3 weeks. A lower yield can mean that either the value of the incentives have dropped or an increase in liquidity. Looking at the data, it is largely due to an increase in liquidity; maybe after a few months, users have noticed that it is a decent passive income compared to active curation yield. Note also, that the pool APR does not include the shared income from swap fees, so the total will be higher.
Any questions, just ask.
BLURT Prices
We now have a BLURT price feed within the Blurt wallet, so I no longer need to give my weekly price comparisons. Instead, I shall show the difference between our BLURT feed estimate and the BBLURT price.
BLURT feed: $0.0029 (+0%/week)
BBLURT price: $0.0026 (+5%/week)
BLURT in SWAP.HIVE:SWAP.BLURT pool: $0.0031 (+15%/week)
BLURT price continues to hover in a range of around 16-18 satoshis.
Note that any swap pool price will not necessarily reflect open market prices. A swap price will only change when there is an actual trade; buying BBLURT (or SWAP.BLURT) will increase the price and selling will lower it. There are no "open orders", so every transaction will have an effect. This is how arbitrageurs make their money: buying and selling price discrepancies across different markets.
I hope these numbers will give members some insights into how the Blurt economic system is managed and, more importantly, how each individual user can both benefit from and affect the whole chain.
Blurt Better!
Buy BLURT on Probit, Ionomy, Hive-Engine.
Buy BYT on Hive-Engine
Please vote for my witness account @busbecq.
Can be done directly here.
A witness is more than a machine - and so are you.
Thanks!
Is it possible to see how much blurt is burned from fees on average for a day, week or month? I think this would be a great number to know.
Thanks for your weekly update.
Why? It will be a small number. How would it be "great"?
And no, not at the moment.
No it would be great to know, as it has been a question asked numerous times. Not that the number would be large.
A lot of people are asking for many things to waste the time of the devs who, of course, should work for free while implementing every request! (not pointing at you, just some of the "numerous".)
This is a dev issue, and not so simple just to change the structure of txns. So ask one of them - not my brief.
However, yes, would be good to know, yes, I have no idea why it was designed that way, and yes, I have no objections to knowing.
But, for me, it would make no difference to the above economic indicators. We already know the net amount of BLURT being created - that's the current supply - so knowing what has been burned then also requires knowing the gross amount being minted. The difference between minted and burned is just the new current supply. Hope that helps explain why, although a good idea, I'm not pressing for this as some hugely important parameter - if it was, I'd have pressed 2 years ago.
Yes I can understand how that would not be a pressing issue for the developers. Maybe something that the block explorers can bring out in the future because beyond seeing what is burned to know overall supply it would be helpful for those of us who actually do our Taxes in the US as this is a cost that can offset some of our earnings and I found no way of easily figuring that out last time I did my taxes.
Someone has added a
fee_payvirtual operation to the Blurt software, but it wasn’t implemented correctly, so it doesn’t work. We’ll have to troubleshoot it and get it working. It’s one of the things we have in the pipeline.I’ll just tag @rycharde here so I don’t need to write the comment twice.
Thanks - I think I missed that key issue.
anybody interested, virtual ops described here = https://developers.steem.io/tutorials-recipes/virtual-operations-when-streaming-blockchain-transactions
does that mean, at the moment, such txns do not even appear as virtual?
Thanks for the info and continued dedication.
Right, THAT is a more pressing reason - taxes.
IMO this should have been thought through when it was implemented - so be it.
But please ask @saboin - all I can say is that this issue of fees and burning is being looked it, but I have no way to give a true picture of the real coding issues and the consequent timeframe to resolve.
Thank you, looks like @saboin has chimed in with some good info.