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RE: Steem HF21 Review - Reject 2e12
I agree that when SMTs get foothold, then we should seriously think about reducing inflation. Price of an asset is always depend on supply and demand. BTC and LTC are having great time on upcoming halving that will reduce the reward to half. On the other hand, at low demand, Steem are sold as usual or more. Mostly insiders (i.e. old Steemians) are buying. HF21 will make it difficult for newcomers. Moreover, STINC is not creating any demand by taking popular decisions (e.g. burn few millions, airdrop on coinbase earn project, or delegating to popular dapps such as @actifit, @steemhunt, @dlike to inspire their users) or spending millions on marketing to attract new users, investors, or developers.
I do agree in one sense, but in another sense, who is going to buy 500 Steem to make themselves an instant minnow if Steem is 10 dollars a piece and inflation is 2%. It seems more profitable now at 20% inflation and 40 cents because if it moons, that would be nice. I guess the powers to be have a target of active users in mind before changing it.
Maybe that's also why they are delaying SMTs. It's pretty amazing that some witnesses just managed to make a very similar thing on their own without millions of dollars of Steem (I think).