Wow! Thank you for the vote. I and my steem account appreciate it greatly. :-)
"Irrational" exuberance vs "justified" aren't mutually exclusive. They both can happen when something is doing well. The irrational part is forgetting that they can go down just as easily or that they're not going to stop until they reach some ridiculous number. One of my blogs talks about how bull markets climb a "wall of worry". It means that you need people tempering the exuberance for the market to keep climbing. As soon as those people finally throw in the towel and jump in on the long side, that's when you need to get out. It's the same thing on the downside. I can't tell you how many times I've said, "Hold, hold, ride it out." And then it keeps going down until finally I say, "Eff this! I've got to save something!" and sell. Only to have that be the bottom and things shoot back up. It's human nature. That's why it's best to decide what you're going to do before it happens and just shut if off for a couple days to settle itself out.
As for the inflation.....I'm pretty sure I read that once it gets down to 0.5% a year it will stay there in perpetuity. Not 100% on that but....half of a percent of 500M is 2.5M a year. Again, while not a huge number, when you consider that its >10% of bitcoin, it is significant. Growth on the platform can easily outpace that but, it does mean the platform has to grow. It can't stagnate or value goes down.
That all said, it is still sooooooo early in the game. The sky truly is the limit. As someone else pointed out, the addition of the SMTs and the other media aspects (dtube etc...) available here offer huge growth potential and a one-stop shopping experience that can't be matched by anything else out there right now. The key will really be to penetrate other markets (Japan, Korea, Europe) and getting the crypto listed over there would be a huge step in making that happen. Truthfully, I'm only here because someone told me to buy Steem as an investment. I don't do FB or twitter or anything like that. This is my first social media platform and, like I said, I would never have come here without first learning about the currency. Japan and Korea would explode on Steemit if they had the currency staring them in the face every day. Especially as it rises....
Thanks again for the upvote. More than the money, I really appreciate the boost to rep. I'll 100% your comment too, though I think I'm down in the 60% range for power. Until getting into a debate about votes yesterday I've just been throwing them around wherever I see fit.☺
Oh, by the way, it's @dagger212 and not @dahher212. I wouldn't have said anything but you linked it so....