RE: Charlie Lees loses bet to Roger Ver

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Charlie Lees loses bet to Roger Ver

in bitcoin •  5 years ago 

And an inflation rate comparable to the Venezuelan boliviar

bitcoin esteem
5 years ago by

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      ·  5 years ago 

    I don't know if you are trying to be funny or if you really don't know what the inflation schedule of steem is.

    The rate that new tokens are generated was set to 9.5% per year starting in December 2016, and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5 years.

    Compared to bitcoin the inflation rate is high but the gap gets smaller over time (no where near the hyperinflation of Venezuela).

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        ·  5 years ago 

      Thanks for the clarification. My guess it was an attempt at a hyperbolic allegory. 😎

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          ·  5 years ago 

        I like those sometimes makes it easier to get through (parabolic allegory)
        But wouldn't give steem as an example of crypto well suited to be used as a currency in broader meaning of the term

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          ·  5 years ago 
        Ok no worries you look at "schedules" I'll look at reality just over a  year ago had steem worth over 350$ worth about $30 now 

"Inflation-. It is the constant rise in the general level of prices where a unit of currency buys less than it did in prior periods."

        Yes u are right if u look at steem on its own rather than as part of global economy guess u could call it depreciation instead of inflation doesn't make your steem worth any more though

        "A rose by any other name would smell as sweet"
        -William Shakespeare-

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            ·  5 years ago 

          I get what you meant now. In this space when people talk about inflation they are referring to the issuance of new tokens as a percentage of the total supply not the market value.

          If you compare the current value to the all time high all crypto is down between 75% and 99%. But if you to compare to the all time lows steem is up 71%. I guess it depends on what your starting point is.

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              ·  5 years ago 

            Ye Tell me about the price drop :)
            I left for a new happy off grid life January 2018 with all my savings in crypto, guess how that went? :)

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