So is there a finite amount of steem or does it the blockchain keep making more. How does the inflation rate help or not help the price of steem?
You response are much appreciated because I really trying to understand the ins and out of things.
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Currently, something like 65,000 Steem are created every day. Specifically, new Steem is created every 3 seconds as a block is added to the blockchain.
The inflation rate helps the price of Steem in that its growth rate is significantly lower than the rate of growth in the demand for Steem, currently because the number of accounts is growing at a much higher rate. If Smart Media tokens are successfully launched and prove to be popular, demand for Steem could increase dramatically.
Edited to add this: I just checked. Currently, every three seconds, 2.26 Steem are being created (65,088 per day).