Have you ever wondered how steem is going to pay everyone when there is hundreds of millions of people using it? Surely if rewards in the pool were limited steem wouldn't be able to scale right...
The good news is that rewards in the pool are potentially unlimited, they grow with the price of steem. As an example say the reward pool today is worth about USD 50k. When the price of steem is 10 times what it is today that same reward pool will be worth half a million USD.
Oh! I've learnt something new today. Truly I never knew about this.
Everyday, new posts keep springing up about people raping the reward pool (the @berniesanders and @haejin feud as an example) and this matter has b en debated on this platform over and over again.
Hopefully, this post will serve as a source of reference and to explain things better.
What do you think? Should steem be a communist society with loads of restriction or should it be capitalist driven by a free market economy?
Ofcourse! Steem should be capitalist driven by a free market economy.
I mean, that's why we chose crypto right? Plus decentralization to add to that. We don't want the communist market at all cus the whole idea of cryptocurrecncy will be futile and we don't want it to happen on this platform either.
Thanks @snowflake for this educative and eye opening post. As usual, your posts are always apt and meaningful.