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RE: TIL: How much STEEM is added to the reward pool per day?

in #steem7 years ago

Good article.

Just one thing, Bitcoin is also inflationary - current inflation rate is 3.91% per annum (http://www.bitcoinblockhalf.com/) - and will taper towards 0% in 2020. Bitcoin is called deflationary not because it has negative inflation but because its inflation rate is decreasing (yet positive). Steem's inflation rate is also programmed to decrease over time but (wisely) left to be constant just above zero.

Nobody really knows what the reaction will be to Bitcoin when there is nothing left to mine and the "miners"/processors are funded merely from transaction fees. Maybe that controlled experiment will be over and people will gratefully accept the new centralbankcoin.

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Solid point on BTC also being inflationary, albeit decreasing at a very quick pace. The transition process for Bitcoin from mining fees to transactions fees should be gradual and organic, not like simply hitting a junction where a moment of decision is required on the spot... that is if we can survive through the upcoming forks of course ;-)