I have got a question for you : I was reading the blue paper trying to figure out how will the rewards evolve in the future. I read on the blue paper that the rewards come from inflation , and that the inflation will decrease until it reaches a certain minimum level. Now the question is , if it is true and as seen that steemit grows at a rate of 100000 user a month , isn’t it true that the average rewards will go down in steem? I think that if I have a certain fixed amount of steem power, the value in steem of my vote will go down. But I am not sure to understand well so I ask you if you kindly want to help me understand this point. I also think that this could be compensated by the value of steem going up in dollars and so the reward in dollar could not decrease.
Now to be fair, I don't work with Steemit, so I'm by no means an authority, but as I understand it that may somewhat happen, but the idea is that if your content is quality you should still end up getting the same amount of money, otherwise your rewards should be spread out to other quality accounts. As early starters we are benefiting more in the beginning for our efforts. Like any platform this is the case, the first youtube video has millions of views and it's like 15 seconds with a poor quality video of a man at the zoo looking at one of the animals and over 100k subscribers from that. If someone uploaded that now, no one would like it, see it, or subscribe. The idea of Steemit is different still because this won't be unfairly only supporting the top influencers. Keep in mind we burn the coins when we promote on here too so that helps regulate inflation as well.
thanks so much, followed :)
I have got a question for you : I was reading the blue paper trying to figure out how will the rewards evolve in the future. I read on the blue paper that the rewards come from inflation , and that the inflation will decrease until it reaches a certain minimum level. Now the question is , if it is true and as seen that steemit grows at a rate of 100000 user a month , isn’t it true that the average rewards will go down in steem? I think that if I have a certain fixed amount of steem power, the value in steem of my vote will go down. But I am not sure to understand well so I ask you if you kindly want to help me understand this point. I also think that this could be compensated by the value of steem going up in dollars and so the reward in dollar could not decrease.
Now to be fair, I don't work with Steemit, so I'm by no means an authority, but as I understand it that may somewhat happen, but the idea is that if your content is quality you should still end up getting the same amount of money, otherwise your rewards should be spread out to other quality accounts. As early starters we are benefiting more in the beginning for our efforts. Like any platform this is the case, the first youtube video has millions of views and it's like 15 seconds with a poor quality video of a man at the zoo looking at one of the animals and over 100k subscribers from that. If someone uploaded that now, no one would like it, see it, or subscribe. The idea of Steemit is different still because this won't be unfairly only supporting the top influencers. Keep in mind we burn the coins when we promote on here too so that helps regulate inflation as well.
Well I think we could help each other surfing this world , if you like to give me your telegram account we can chat better
I'm one for discord but I'm @scottcbusiness on telegram add me on on discord / join my discord group
https://discord.gg/3UHx6mV
ScottCBusiness#5242
Inflation and burning are supposed to work together as a means of accounting, all social media tokens act this way. You should look into social media tokens in general. I recently resteemed this too: https://steemit.com/steem/@ilyastarar/understanding-steem-economy-its-currencies-and-the-reward-distribution-system