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RE: What happens to the price of a cryptocurrency when hyperinflation stops?
The total supply of Steem that can ever exist has been coded into the blockchain. That's how blockchains work.
The total supply of Steem that can ever exist has been coded into the blockchain. That's how blockchains work.
OK cool, but then where does the steem come from that you earn on posts and upvotes? Thanks for being an inspiring Steemian and connecting on here! 🤡 🤠 😏 😒 😞 I hope you have a wonderful day!
The whole supply of the steem doesn't exist yet. It is still being mined. Think of us like miners, we make posts and create engagement to mine coins. Hence generating more steam.
When almost all steem will be mined. It will be super difficult to mine the last few steem. And in practicality all of steem will never be mined. It will just keep switching back decimals. Like 0.00000000.....0001.
Read my blog (@amratesh) I made a post intuitively explaining ICOs. I'm planning to do one about Blockchain next. It will be more technical but I will do my best to explain it intuitively.
Cheers
Thanks yeah I'm trying to imagine how that will impact day to day steeming. 😀 😃 😄