Yep that's correct, as i said in a previous post. short term steem price is likely to go up, however when growth of the platform hits the limit there will be nothing to offset the 100% yearly inflation , i suspect we won't even have to wait for this limit to be reached because buy support today is way too low to compensate for the 100% inflation, the only reason price does nt drop now is because people are hoarding, the crash wont be pretty when everyone realize this is similar to a ponzi
You are wrong in this, yearly inflation is 10% or less.
Growth doesn't need to be more than 100% per year to offset this. The fact that the less than 10% of STEEM that is liquid is inflationary/debased/whatever by 100% doesn't affect the STEEM POWER holders that recieve new coins every year, cheaper but more coins that as a sum somewhat protect you from inflation, bitcoin had the same inflation too.
wait..what you are saying is that steem power holders are protected from inflation because the system creates even more inflation, do you realize that when steem print more coins it makes yours worth less? You and everyone else are blinded by the fact that your steem power balance keeps increasing and failto understand that your balance is actually decreasing in value overtime because it is pegged to the steem value 1:1, what happens when 1 steem is worth 0.00000001$ ?
minus ofcourse the 100% - 90% difference.
Why do you need to write whole stories just to answer a simple question? this is the second time that you invent some scenario why not just answer my initial question with a simple 2 line post?
How does powering steem protect you from hyperinflation? Maybe because you are the one confused...
I ll tell you in a simple way why it does not protect you.
When you inject more steem into the system it makes your money worth less, you may think the opposite becuse your steem power balance is increasing but steem the currency is losing value everytime you and everyone else receive more steem.
You think that you are not affected by the 100% inflation because you are given more steem, and fail to understand that this means more steem into the system and that the only reason you don't see the negative effect of this yet is because people are hoarding but that won't last forever
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