I think you have to differentiate between the 'steemit' account which is (more or less) transparently managed in a particular way and the rest of the (known and unknown) "pre"-miners who mined the other 20% (some of whom are probably insiders, taking that term broadly, some of who certainly are not).

I think it is unlikely with 40% of the "pre"-mine coins being given away with even some degree of distribution (for example, Steemit becomes very popular and millions of people sign up, so even if some do scam multiple "free" accounts the bulk of accounts are not duplicated), that insider concentration won't be heavily diluted.

The conclusion may be the same, but the analysis is different.

Also, the 100% yearly number is once the long term distribution rates are reached. The percentages are higher during the initial distribution (with a constant rate of distribution per block, the second block doubles the supply, etc.)


Seems right.