Is Steem Hyperinflating? Update

in #inflation4 years ago

Hello Folks, have you noticed? I've mentioned Steem inflation in the past, this is the third article on the matter. We had this tron takeover which gave the boot to the old guard strangling steemit with spam and censorship. I don't miss them and good riddance to them. Then something interesting happened. The Steem supply stopped increasing and hung around 371,000,000 for quite a while. This was refreshing and inspired confidence. The Steem price was above 24 cents several times so far this year and even broached 34 cents for a hot minute. Then, recently, the inflation resumed and we went from 371m to 385m very quickly. I believe this is related to the decrease in price to under 17 cents. I understand nothing is free and I understand seigniorage is the way witnesses are compensated here, but special care should be taken not to kill the goose. Remember, the coin that started it all, Bitcoin, has a hard cap on supply for a very very good reason.

Inflation is the scourge of humanity.

I advise the Steem team to keep the inflation rate as low as possible. The 3 to 4% a month we just witnessed will lead to nowhere fast. Not viable, not sustainable.

Date / Steem / SBD
3-3-18 /251,012,736
4-6-18 /255,912,562
5-6-18 / 254,596,936
6-6-18 / 258,722,593
7-7-18 / 264,129,936
8-7-18 / 269,744,995
9-5-18 / 273,960,849
12-12-18 / 302,464,146
1-6-19 /307,577,184
9-27-20/385,356,198

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