Topic: Steemit how can this thing be workable long term? - page 43. (Read 32368 times)

I just saw this on Bittrex and I thought whoa I haven't seen this much growth this fast for any coin out there. It's up what? 85.3% The volume of btc is insane! 2591. I don't think an alt comes even close to that number.

 Incredible!

Nevermind looked again and it popped to 97.1%. Just outstanding. 

because inflation is way higher than 11.11% and never mind developers are sitting on a huge stash.

Im not sure i understand this, where does those 9 steem come from and why are they now divided ,i thought you said they were added?

STEEM is autonomously printed to cover contribution rewards, steem power rewards, and SMD operations. Miners are paid out of the same pool of money as content contributors, curation contributors, etc.

These rewards combined amount to approximately 11.11% inflation per year. (the exact amount of inflation fluctuates depending on many different factors)

Here is how the 11.11% is divided up:


I would also like to point out that although STEEM POWER stakeholders are debased by approximately 11.11% per year, they also have the ability to work for (or contribute and earn) a portion of the inflation for the contribution rewards. It is possible to reduce or negate the inflation by simply participating in the ecosystem. Also, when the value of STEEM rises it reduces or negates the effects of inflation as well.

This doesn't make sense. How can you credit more steem than miners produce?

Dinosaurs were around for about 165 million years. Don't dis Sue. She's been around for much longer than Steem ever will.


Not everyone in this space is a straight male or a lesbian who would even care about broke hot female babes. You should diversify your sales tactics.

STEEM inflates at 100% per year. That is why STEEM is not a long term investment. STEEM's main use is simply to transfer ownership from one long term investor to another. I consider STEEM's secondary use as being a liquid asset in the STEEM DOLLAR decentralized exchange.

STEEM which is "powered up" into STEEM POWER only inflates at approximately 11.11% per year. STEEM POWER gives someone more sway in content curation (up voting and down voting, a la Reddit).

For every 1 STEEM that is printed for contribution rewards, STEEM POWER stakeholders are credited with 9 STEEM.

That is a 9 to 1 ratio, hence approximately 11.11% inflation per year.

You ask how this is sustainable? I point to the fact that almost all cryptocurrencies are inflationary, but misleadingly advertise themselves as being deflationary. Take for instance Bitcoin... from the Steem whitepaper:


Steem is inflating at approximately the same speed as Bitcoin did in the first 8 years of its life. However, I posit that Steem can grow much more quickly than Bitcoin considering society's love for social networking. Paying society to participate in a social network just throws more fuel on the fire. Consider the recent network trends as possible evidence of explosive growth: https://steemle.com/charts.php

Even my mom has registered for Steemit and is blogging, but I can not for the life of me get her to use Bitcoin or Litecoin (although she does hodl).

And there goes the big dump.  

I can't seem to find original thread where i read about this but here is another one explaining it https://steemit.com/steem/@steemrollin/what-is-the-current-and-projected-supply-of-steem-over-time

Where does it say that there is 100% inflation every year? I think you might be mistaken. Can you post the link?

You can't compare it with the fiat system which is only a few % inflation, steem is 100% inflation/year  ( supply double every year)

stop trying to derail the thread man, just answer my inital question lol  only blockchain with sound economics is the future

How much inflation does Steem have and what is the inflation schedule (if there is any)?

Nice try Larimers, but you're going to have to get up earlier in the day to try that one.

Just like how the fiat system is not sustainable. But you don't see the potential here. The question is how high will it go and for how long? By saying "it is not sustainable" you already closed your imagination to the possibilities and have bias to want to see it fail.

Steem is a steeming pile of trash.  It is absolutely NOT sustainable long-term.  Who would have thought that a "project" by the infamous Larimer gang would be another pathetic, worthless, money grabbing scheme to ripoff the naive?  Just say NO to the Larimer trash and their anti-free speech Chinese communist backers!

I think the creators of Steem beat everyone to the punch. Once the world realizes the profit they can make out of the site all hell will break loose. They will be flocking over there so keep quiet and don't say a word if you haven't accumulated your fair share of steem.

It is not sustainable. It is like a drug. You get all this money but the money will stop. Then no one will use it.

Reddit doesn't pay its users, apples and oranges

Indeed, and steemit is an elaborate ponzi. Better get in and out before everyone else lol