This was always my disagreement with the 'logic' that "there isn't enough STEEM to create millions of accounts for onboarding". There is plenty (an unlimited quantity in fact) as long as the price of STEEM goes up (and therefore the account fee down) along with the onboarding process. If it doesn't, something has gone very wrong.
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Exactly. It'll be an unsustainable system if there were 100 million users, yet were the market cap <$1 billion.
This seems like a selfish move by Steemit Inc. to retain holdings, which is in direct contradiction to their stated goals of decentralizing their stake. That was early 2017, absolutely no steps have been taken since. That said, this could be useful to third party developers with a sweeping marketing plan. Even so, the concern is no one can compete with Steemit Inc in the subsidy market, due to their overwhelming RC budget.
If steem goes to $1000 someday, will we get more decimal places? Or will the smallest unit of measurement still be 0.001 and be worth $1?
It wouldn't necessarily be easy (sort of a Y2K-type problem with all the UI and other code that would need to be updated) but in theory the decimal place can definitely be moved. This was done with VESTS in the early days (multiplied by one million), although of course at that time there was hardly any software to update.
Well, good. It's almost a problem when steem hits $10, even. I mean I guess no one's complaining that their penny can't pay out... But also maybe they are?
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Total agreement, @smooth. I Noticed the same thing after a few seconds looking at account creation faucets and I am glad to see RC taking over, making something like 5.1 Million accounts annually with your calculations.
We might have to UP those numbers again, just calculated that with 14K accounts per day will take 196 years to get to 1 billion accounts.