As you probably know the supply of Steem is not fixed. Each day new Steem is being created to be distributed among the best authors and curators of the network and a smaller part is for the witnesses and all Steem Power holders.
Steem inflation rate
The current inflation rate is about 9.5%, but it is set to decrease to 1% over the next 18 years. See this post by @fyrstikken for a Supply-Table for the next 20 years. At the current supply of nearly 250 million Steem about 65,000 new Steem is being created per day.
65,000 Steem has a value of roughly $53,000 US Dollar at the current price of $0.82 per Steem.
So about $53,000 US Dollar worth of Steem is being distributed each day. That may sound like a lot of money to you, but let's put this amount into perspective.
Did you know $3.2 million worth of Bitcoin is being mined every single day?
- 12.5 new bitcoins are being created/mined roughly every 10 minutes.
- 1,800 new bitcoins are being mined every day.
- 1,800 BTC * $1,800 USD = $3,240,000 US Dollar a day
Did you know $370 million worth of Gold is being mined every single day?
- Since 2008, gold production has increased steadily to an estimated 3.1 thousand metric tons in 2016. (source)
- 3,100 metric tons equals 109,349,282 troy ounces of gold.
- 1 ounce of Gold is worth about $1240 US Dollar.
- 109,349,282 troy ounces * $1240 = $135.6 billion US Dollar a year.
- = $371.5 million US Dollar a day.
Did you know the ECB is 'printing' 2 billion euros every single day?
Did you know the European Central Bank (ECB) is buying 60 billion euros of assets a month with newly created money?
- 60 billion euros = $66.65 billion US Dollar a month
- = $2.22 billion US Dollars a day
To sum it all up:
- $2.22 billion of new printed euros by the ECB per day
- $371.5 million of new mined gold per day
- $3.24 million of new mined Bitcoin per day
- Only $53,000 of new Steem per day! 😋