Viewing a response to: @craig-grant/re-snowflake-re-craig-grant-re-snowflake-re-nextgencrypto-re-steemitblog-announcing-steem-0-14-4-shared-db-preview-release-20161029t102438913z
Hmm..so you are looking short term how you can benefit from the situation and I am looking long term how we can save this platform so we clearly have different intentions. You need more steem to get 1MV because the supply almost doubled since august. This will always go up but this metric is not very relevant for anything. You fail to see the repercussions of early excessive printing. The more new coins are created the harder it will be for steem to support its current price. And so the harder it will be for the rewards on the platform to increase. The price of steem going back to its previous highs will be more and more unlikely as time passes. Steem supply has more than doubled since the last pump, which means you would need 2 times more money than the first bubble to get to the same price per steem and it's only going to get worse from there as the steem blockchain is creating a lot of news coins every day. In july 2017, 6 times more money will be needed to get to the same price we were this July. In july 2018, 12 times more money will be needed to get to the same price we were this July. The more you print the harder it will be for the steem price to get to its previous high. In other words rewards on the platform will keep dropping ( they won't increase that's for sure unless huge amounts of money are exponentially poured in ) Steemit's objectives long term should be to reduce it's supply if they want to handle the growth of the platform. A supply going down means a price going up which means rewards on the platform going up to pay all new bloggers. There are many ways that steem could have a supply going down, they would have to burn more coins than they create to pay for the rewards ( with the promoted feature for example) but it is totally possible to achieve and that's what steem should aim at if they want to be succesfull. Everything that they print now will have consequences on the price in the future even after the unnecessary inflation is removed.
author | snowflake |
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permlink | re-craig-grant-re-snowflake-re-craig-grant-re-snowflake-re-nextgencrypto-re-steemitblog-announcing-steem-0-14-4-shared-db-preview-release-20161029t111952100z |
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