But that means that every week 1% of the SP is liquid for selling. If no one is converting to SP, then eventually it will all become STEEM which is debased 100% per annum and the curation will be dominated by the few remaining with SP.
It also appears to be a constant selling pressure juxtaposed against any speculation demand for STEEM. Analogous to miners divest BTC.
I see your point that the amount of STEEM available is only 10% of marketcap right now. So that can be another factor for price moving up so much.
Dan planned out the math of this pyramid scheme well. It is a front loaded pump with a long-tail die off.
I'm not saying you don't know what you're talking about, but none of what you just said has any basis in reality.
9 SP are created for every 1 Steem created.Please do your homework before making outlandish claims about pyramid schemes.
Indeed on the bolded. Did you not read what I wrote:
Dan planned out the math of this pyramid scheme well. It is a front loaded pump with a long-tail die off.
You bolded the fact that disproves the premise of your post...
You don't understand my post. Just try to explain what you think was disproven, then I will explain your myopia.
SP is created alongside STEEM at a ratio of 9:1.
You said if nobody is converting to SP, it will all be STEEM.
90% is bigger than 10%.
90% of the money supply is created as SP. 10% is created as STEEM.
More SP is created than STEEM.
Get it?