Steem may not be capped, but there is a declining inflation rate, so over time, less and less will be produced. At some point there will be so little produced that mining (or witnessing) becomes impractical. At least that is my understanding of it. I can't speak about EOS nor Etherium, because I know nothing about them.
Eliminate their server buildings, make everything auditable and trackable.
OK, here's where my lack of knowledge shows through: What is the difference between data stored on a normal server and data stored on a server using blockchain technology? Where would the savings come into play? I would think that since the blockchain must store everything in a long chain, it would be analogous to an ever-growing zip file. With a normal server, the date-stamps of the files saved would serve for audit and tracking, wouldn't it?
I agree with what you say about Starbucks, but I'm not thinking that the coffee would start tasting bad. Instead I'm thinking that the supply of coffee begins to run out, so the COST of the coffee becomes unreasonably high.
All valid points. Well if steem is successful then as the block rewards go down, the price of Steem also goes up I would think. And then you would need less Steem as a reward and you would still make the same money.. and it's because it's decentralized, ran by lots of people and paid for by the blockchain.. so if you ran your Uber application through EOS, you would only need to buy enough eos to have the bandwidth your application requires and they would do all the rest. It would do confirmation, security, auditing, verification, Id naming.. so a blockchain Uber on EOS buys EOS, buy a website, plugs it in to the EOS blockchain and it handles the people asking for a ride the people picking them up, the payment between the two parties. So all the Uber has to do is take a tiny percentage. They don't need a corporate office, or CEOs. It can run itself as a contract between people, and since it could remove so much overhead, it could also charge less.. as a driver you would want it to be successful because you being paid in coins represented by it, as a customer you want it to do well because you it's the cheapest and maybe you bought coins to pay drivers. So in a sense you are both shareholders. The real shareholders are the ones who bought more coins than they need though.. this has been a good conversation. Sorry if I'm missing points you wanted me to address, I'm trying lol
Thanks for the explanation. That sounds very exciting about EOS. Can Steem do the same thing with its SMT?