And if you do that then how do you retain the long term participation? We could just reward all the new participants but then who will stay?
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And if you do that then how do you retain the long term participation? We could just reward all the new participants but then who will stay?
I'm not saying the early steemians will leave, its not an all or nothing deal. Let's say a Steemian owns 20,000 STEEM and the price of STEEM (really wish ticker had been abbreviated STM) goes up to a whopping $100 per STEEM. Okay, so that's lambo time and the guy sells 5000 STEEM while keeping 15,000 powered up.
Sure, he could just upvote himself and earn money, but even at such high values, the quickest way to get that lambo is selling your own STEEM. Sure, he could just sell it all and walk with 2 million, but in all likelihood, he's going to liquidate just enough to buy that lambo and maybe a shed full of Johnny Walker and then keep on Steeming. Only, then it shoots up even more later on and he starts thinking about how he regretted getting a yellow lambo.
Money isn't everything. What if someone has millions of dollars and doesn't care about money anymore? What keeps them?
I'm not sure what you mean? I suppose if someone stops liking the idea of Steem they can sell all their coins and leave, or they can keep them all and walk away.
I doubt the ladder will happen, but it could and that's fine. I see no reason for it to be a problem for someone to never use or sell their coins because they only count if they actively upvote. The inflation pool rewards people based on upvote activity, thus, inactive whales really don't hurt active minnows in their efforts to profit.
Additionally, inflation serves to reduce the prominence of inactive whales because more supply enters the ecosystem to non-whale accounts re-balancing distribution.