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RE: How to Check if Your Steemit Account is Gaining Interest
It is really amazing how this all works. The money supply increases but interest is earned on held money to offset the effects of inflation. This allows for an economy with unlimited growth and none (or at least not as many) of the side effects of an inflationary currency. It's really genius.
The Interest actually is the inflation. About 90% of the inflation goes to interest, and about 10% of the inflation goes to Content creators and Curators. And like Bitcoin, everyone knows that it is going to inflate, so every coin made doesn't actually inflate the value, because it is a prescribed inflation, and won't ever change. It won't inflate in unexpected ways, so the value of the coin is already based on that inflation and will not be effected by it.
I get excited every little bit I get.
Far out.
Wow even better than I thought!
Thanks. This simple explanation helped.