RE: Blockchain Generations: From Bitcoin to Smart Contracts and Graphene

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Blockchain Generations: From Bitcoin to Smart Contracts and Graphene

in bitshares •  7 years ago 

There is one thing that I DON'T like about Steem, which you say is a Third Generation block chain. Yes. It might be very efficient. But I don't like that Steem coins are planned to DOUBLE every year.

That is TOO MUCH inflation built in, the price of Steem can never rise too much because TOO MANY NEW STEEM are being produced, and whoever is getting them (I suppose, "witnesses" which are known as "miners" in first generation Block chain, eg, Bitcoin) will sell them.

Thanks for the beautiful explanation. I learn from you.

bitshares
7 years ago by

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      ·  7 years ago 

    The price is not "planned to double every year", nor is inflation set to 100 %. Read the white paper again. It might have been 100 % in the beginning but haven't been for a long time now.

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