You are viewing a single comment's thread from:

RE: Why not inflate steem by only 10% ( or whatever reward pool is) instead of having this crazy "printing" going on?

in #steemit8 years ago

You missed my point. Here is the important part

We are in a conflicted situation where steemit keeps getting better everyday but its price keeps going down, users want mass adoption but this means they also want less rewards, steemit inc wants to grow the user base but the steem bockchain have less and less money to give to users.

In other words, the more users the less everyone is going to get paid. This was obviously expected and it would be impossible to pay more as more user register but if the price keeps growing it would be possible to mitigate this fact. However with a constant decline in price du to inflation and lack of interesting investment proposition , at some point steemit won't be able to attract new bloggers. You already see the effect of this when people complain that they used to earn more per post.
Investors ask themselves 2 things, how am I gonna make a return and is this viable long term? The answer to these questions is NOT SURE and NO.

They have content. That's why people go there. It has nothing to do with being paid

Steemit would never be able to compete with reddit,facebook,etc..if there was no innovation. The whole point of steemit is to rewards users for the content they provide instead of paying steemit CEO.
Facebook has value because advertisers are willing to pay big money to advertise on the site.
Steemit and facebook are 2 completely different model.