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RE: Why people will buy STEEM
"The dollar supply has increased by 4x with minimal inflation over the past 8 years"
A bit off topic, but one of the ways dollars are created is when we go to the bank for a loan. Simplistically, the bank "creates" the dollars in a ledger entry and usually secures it with some sort of collateral (home, future earnings etc.). Those who have more collateral can loan more and buy more and secure more loans with what they have bought. This "created" liquidity stimulates the economy but also slowly inflates the prices of the collateral. Therefore the have's outpace the have-not's and the wealth gap increases.
I wonder how these difficult conundrums will play out in years to come in CryptoLand and more especially the Steem economy.
Did you intend to reply to the OP or me?
Sorry OP