Really? I thought you took vesting divided by virtual. How do you get 94? Looks like you are using vested to total Steem.

I think virtual is correct. If the virtual sky rocketed, the value of your stake would decline. You should be focused on your percent ownership of the virtual supply not actual supply (like diluted shares) Now I assume virtual grows with new Steem plus change in the amount of backing required for Steem dollars. If sbd teaches 5% no new sbd are printed and the change in supply for backing depends only on price. If price is stable virtual supply increase defaults to Steem increase. If vest holders get 90 percent of new Steem then then their ownership of virtual supply will be drawn to 90 percent. (Steem supply will be 3.28x as big in one year.) Large price swings could alter this but at some price it should stabilize.