RE: STEEM IS A SCAM! They will "print" infinite number of coins!

You are viewing a single comment's thread from:

STEEM IS A SCAM! They will "print" infinite number of coins!

in steem •  8 years ago 

Why? how do you know this? That is a very bold statement with no facts that will in any way back it up. I am not sure that you are right and with all economic issues things will rise and fall.

steem
8 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$0.00
    2
    Authors get paid when people like you upvote their post.
    If you enjoyed what you read here, create your account today and start earning FREE STEEM!
    Sort Order:  
  • Trending
    • [-]
      ·  8 years ago 

    Read the Steemit Whitepaper:

    "At first glance, 100% annual increase in the STEEM supply may appear to be
    hyper-inflationary and unsustainable. [...]"

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      [-]
        ·  8 years ago (edited)

      Did reading the whitepaper stop at that sentence for you? Because when you keep it in context, it makes a whole heck of a lot more sense:

      "At first glance, 100% annual increase in the STEEM supply may appear to be
      hyper-inflationary and unsustainable. Those who follow the Quantity Theory of Money may even conclude that the value of STEEM must fall by approximately 5.6% per month. We know from countless real-world examples that the quantity of money does not have a direct and immediate impact on its value, though it certainly plays a role."

      "Because 90% of all STEEM created is distributed back to holders of SP, the result is similar to having a 2:1 “split” every year rather true inflation. The total rate of expenditures used to reward contributors is about 10% of the market capitalization per year, a rate well below what Bitcoin sustained for the first 7 years after it launched"

      Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

      • Disagreement on rewards
      • Fraud or plagiarism
      • Hate speech or trolling
      • Miscategorized content or spam

      Submit
      $0.00
        2 votes