RE: Announcing Steem 0.14.4 . Shared DB Preview Release
Can we please vote on a reward taxation that reduces inflation and keeps more STEEM circulating on the platform? The reward rate of STEEM is adding to the current sell pressure we're experiencing on the market. We had a reversal today after these announcements but because there's so much supply, there's a lot of it being sold, forcing the price into dangerous regions. If we don't address these inflation/creation problems soon, we could see the price of STEEM tank to $0. And this is from someone who's holding long term. It effects investors negatively. There's literally no reason to invest in the platform when there's sell orders of over 1Million+ STEEM and only 50 BTC worth of buys. This needs to be addressed, solutions need to be put forward, and a vote should be had. I don't care if there's only 19 witnesses voting, just find the solution before STEEM tanks.
Can you please explain 'reward taxation' more?
Because the creation of STEEM is at such a high rate, I suggested here and on other threads that we should introduce a fee on rewards. A small percentage that is taken every time STEEM is created which can be recirculated within the economy. This reduces the amount of STEEM needing to be made as there's already a supply within the economy which can be used to pay rewards. If creation of rewards then become more frequent, and if there's less rewards being handed out, we create a surplus that can be paid back to investors.
The same thing happens with banks and taxable incomes. State banks tax incomes to recirculate money, reducing inflation, and then use surplus for government spending. (As I understand)