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RE: Steemit Crypto Academy Contest / S9W3 - STEEM Inflation
Greetings mate...
Your input on the topic of discussion is indeed commendable as you have explained to us what the concept of inflation is all about, what causes inflation, and how it affects economies and the Crypto world.
You also did justice in explaining the difference between deflationary and inflationary cryptocurrencies, and mentioning that Steem is an inflationary Steem as it has an unlimited supply of tokens but also explained the mechanisms it took to mitigate the excessive supply of tokens such as club statuses and Token Burning.
You also did well to encourage users to grow Steem Power as it will benefit users in the foreseeable future. Thank you for sharing your knowledge on this topic with us. Cheers 🥂
Thank you for your kind words I'm glad that my explanation was helpful In understanding the concept of Inflation & its effects on the economy & the crypto world. It's important to Understand the differences Between inflationary & deflationary cryptocurrencies as well as the mechanisms in place to manage token supply.
I believe that growing Steem Power can be beneficial for users as it can provide increased voting power and potentially higher rewards. Additionally club statuses & token burning can help to Manage the supply Of tokens and Promote a healthier Ecosystem.
Thank you for engaging in this discussion and I appreciate your thoughtful feedback. Cheers to continued learning and growth in the crypto world