RE: Steem 0.16.0 Status Update
I have repeatedly and consistently urged doing this with a transition curve, economically equivalent to what was already happening with a fixed size reward pool coupled with high inflation. Rewards (both content and witness rewards) would be unchanged immediately when the fork occurs, but would drop to the eventual target over 1-2 years. This would avoid a huge, and I argue unnecessary, disruption of payout to authors as well as the disruption of witness-funded projects, while still ending up with the same long-run inflation of <10% within a year or two (and then declining eventually to <1%). The team and at least some community members have never bought into this idea however, and seem set on some sort of pitchfork-driven "Cut Rewards Now!" push.