This requires indefinite growth. however. Paying off investors with only the funds of future investors is the definition of a ponzi scheme. There has to be additional value in the system itself.
RE: Should we establish a long-term cap for Steem supply?
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Should we establish a long-term cap for Steem supply?
See initial comment for additional value in the system. Not to mention others I haven't mentioned (value of being able to consume quality content, value of social networking etc). Steem is less of a ponzi than other cryptos that are simply bought on the speculation that they might have future utility or to be pumped and dumped for a profit.
For a ponzi there needs to a "non-existent enterprise" and "quick" returns for the first investors. None of these apply to Steem/ Steemit.
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