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RE: How viable is Steem as a currency as the Steem network must constantly create tokens to reward bloggers and enable votes (causing lots of inflation)?

in #promo-steem4 years ago

I really can't understand the hatred of inflation on crypto community.
When a currency is deflationary it becomes a shitty currency, people would rather stock them up rather than spending them. The currency devolves into Store of Value™.

My contempt to fiat currencies is not because they are inflationary but because newly printed currency starts at the hand of people that earned none of them. Steem does have black stain historically (ninjamine and bid bot) but ninjamine will not happen again and bid bot shitshow has been solved by EIP. Also, fiat currency has the problem of incapability of destroying supply (no incentive on top of being illegal) to retain value, that's not the case for a lot of blockchains including Steem.
I am not opposed to inflation, I just want to have a say in it. Steem is one of very few projects that align with my vision. A project that doesn't simply want to increase price of the token for the sake of it. Removing STEEM content reward is deal breaker for me for the same reasons you mentioned on your post. I will simply leave if that ever happens. Such shortsighted proposal.

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