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RE: Who Will Host/Witness Blocks for the Steem Blockchain When Witness Rewards Are Gone in 20 Years?
Hmm very interesting conversation to have. Hopefully as the rate of inflation reduces, the value of steem will increase as well, and may go some way to alleviating this situation.
However, I think it is inevitable some kind of of scaling/compression/2nd layer solution has to be implemented in the future in order to reduce the cost of running the servers as a witness. Akin to segwit / lightning network (Bitcoin) or sharding (eth).
As I'm not particularly tech savvy, would love to hear what others know about this predicament.
Also love reading your posts on psychology @krnel ! One of the first posts that I look out for on my feed
I was wrong about no more STEEM at 20 years, only the % inflation stops going down :)
Awhh I knew that inflation would stop at 1%, but thought you meant that the 1% inflation wouldn't produce enough steem tokens to pay both witnesses and curators/authors.
But I still think with inflation dropping to 1%, the value of steem itself should increase to counterbalance this issue