Quote from: smooth on July 14, 2016, 03:30:01 AM

Quote from: albert11 on July 14, 2016, 12:25:08 AM

Quote from: smooth on July 14, 2016, 12:03:54 AM

Quote from: albert11 on July 13, 2016, 11:36:37 PM

Hyperinflation doesn't make the price of the currency go up, how can prices double due to hyperinflation? Hyperinflation make the price of a currency go down.

Price of currency goes down means prices of good and services you would buy with the currency go up.

Now go back and reread my earlier replies (and others' ) which explain how Steem Power is protected from the effects of Steem inflation.

High Steem inflation serves a purpose, which is to encourage vesting so people have a long-term incentive to protect their own reputation and the well being of the platform as a whole. Inflation without vesting (and the associated inflation-protection) would be, well, just inflation. Vesting without high inflation or some other incentive would be stupid. The two work together.

Hyperinflation has many purposes obviously, the main one is the ability to reward users just for posting without recourse to advertisement.
My point though is not what is the purpose of it, but can 100% inflation be sustainable in the long run.

That is not at all the purpose of the hyperinflation. Inflation for posting rewards is something like 2% per year. It might be a bit higher now, as some of the formulas were changed around, but it is a single digit percentage. The hyperinflation you talk about serves a completely different purpose, as I described above.

Seriously whats the point of the steem power sytem, why add 90% inflation to a currency just to create some voting /reputation power system, its ridiculous. There are other ways to incentives people to behave on a forum , hyperinflation will be harmful to everyone in the long run.

Not to mention that the inflation will probably result in them having to change their %, if there wasn't any inflation the price could make up for new users content rewards.