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RE: Steem has NO FEES, repeat NO FEES!

in #steem8 years ago

Users are still paying for it through inflation. Steem has over 9% inflation per year. That's much more than BTC or ETH. Look I am super bull on Steem too but don't say there is no fees. The fees (rewards to stakers) are in the higher inflation. Users still pay through Steem inflation paid to stakers.

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I am gonna have to disagree with you. If I send money on Steem I dont get charge a Fee, period.

So steem has no transaction fee, that is a fact. Inflation is not a fee on transactions.

Is not about being bull on Steem or not, if I send a transaction on BTC, ETH, MONERO, ETC I get charged "transaction fee", this does not happen on Steem.

mmm I could keep going, but I think you get the point..

Holders still pay one way or the other through inflation. Its not free. You can call it however you want. Its like DASH gives their mater nodes 8-9% annually but the inflation is more than that. There's no free lunch is what I am saying. Steem has higher inflation so in fact. The net difference in fees + inflation is what you should be calculating to get absolute numbers. Demand for token is more important than those numbers. Steem has a reasonable inflation rate now so I am not here to criticize it. If more and more people demand the token compared to the (fees) you are indirectly paying out to the stakers and user rewards then price will con't to rise. Inflation and fees are same as expenses. This is money flowing out of the system not in. Its same net effect.

Steemit is a nice idea. Having said that it doesn't seem to be very user friendly. Thinking it will really hack of less computer savvy users to the point they fall away pretty quickly unless it becomes easier to use. Steemit is likely to be a quick burn out/flash in the pan type a thing.

good point @hedge-x. I finally understand one of the reasons that creators defined inflation so high.
thanks @chitty, I didn't know steem had no fees in transactions.

There is no inflation on BTC like on fiat currencies. After all bitcoin is mined there won't anything left to mine. There fore to call BTC "inflation" is not accurate.