RE: Where The Money Comes From - "Digging Deeper Into Steem" (Part 1)

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Where The Money Comes From - "Digging Deeper Into Steem" (Part 1)

in steemit •  8 years ago 

You appear to dislike quantitative easing, but this is essentially what Steem does: Inflate, and inflate again both currencies STEEM and SBD.

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8 years ago by

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      ·  8 years ago 

    I don't dislike quantitative easing. I think you took it out of context, I was using it to make the point of the reduction in the spending power of a currency.

    Inflation of a currency is necessary as it becomes adopted and used by more people. In fact the huge inflation actually makes the system fairer as people are given an incentive to contribute their value. If it wasn't inflated to this extent then all the rewards would accrue entirely at the top.

    The 'big idea' of the Steemit system is that it can change and be 'fixed' in the future through hardforking etc.

    Thanks for calling me out @cabi5oh

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