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     8 years ago 

    I think you need to take a closer look at the Steemit Whitepaper

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     8 years ago (edited)

    governments do this since centurys.
    some people call it inflation.
    lesson 1.
    inflation is no indicator of something hitting 0 $

    (also the value of steem isnt directing the value of steemit as a whole)

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    2 votes
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    [-]
     8 years ago 

    This is known. You're not supposed to hold Steem for purposes other than providing short term liquidity (and short term speculation if you so wish). Anyone who has read the whitepaper is perfectly aware of this. Incidentally it is only the virtual supply which doubles every year, the liquid supply will likely vary quite a bit with market conditions.

    The coin will be redenominated such that it stays practical even with a high level of inflation.

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     5 years ago 

    Congratulations @tereska! You received a personal award!

    Happy Birthday! - You are on the Steem blockchain for 3 years!

    You can view your badges on your Steem Board and compare to others on the Steem Ranking

    Vote for @Steemitboard as a witness to get one more award and increased upvotes!
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      [-]
       8 years ago 
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         8 years ago 

        How she do this kind of money? She is famous one or what? Is this because she is a girl? Or she have a huge number of fans? Who is she?

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           8 years ago 

          I'm worried because this platform depends on blog authors. If the STEEM will be printed and printed each STEEM will be worth less, so the authors will get less in dollars. And eventually they will go away... and this platform will die...

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             8 years ago 

            Why? how do you know this? That is a very bold statement with no facts that will in any way back it up. I am not sure that you are right and with all economic issues things will rise and fall.

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               8 years ago 

              Read the Steemit Whitepaper:

              "At first glance, 100% annual increase in the STEEM supply may appear to be
              hyper-inflationary and unsustainable. [...]"

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                 8 years ago (edited)

                Did reading the whitepaper stop at that sentence for you? Because when you keep it in context, it makes a whole heck of a lot more sense:

                "At first glance, 100% annual increase in the STEEM supply may appear to be
                hyper-inflationary and unsustainable. Those who follow the Quantity Theory of Money may even conclude that the value of STEEM must fall by approximately 5.6% per month. We know from countless real-world examples that the quantity of money does not have a direct and immediate impact on its value, though it certainly plays a role."

                "Because 90% of all STEEM created is distributed back to holders of SP, the result is similar to having a 2:1 “split” every year rather true inflation. The total rate of expenditures used to reward contributors is about 10% of the market capitalization per year, a rate well below what Bitcoin sustained for the first 7 years after it launched"

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                 8 years ago (edited)

                I can understand your concern.

                However can you provide a more economics backed explanation how this differs from any other government currency or fiat?

                Or else, fear mongering is unwelcome.

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