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RE: Pfunk's blog is an example of collusive whales.
Whether or not the steem devs are making a promise of making money isnt the question (and they pretty much totally are thats the whole god damn point of all of this lol). The question is whether or not steem is a clone of the federal reserve that more or less creates a system of debt by inflation/compounded interest so on and so on. I understand the steem token has value just like bitcoins despite not being a physical thing like gold but the question is whether or not the intrinsic value can keep up with the inflation.
The inflation was dramatically decreased in the last hardfork.