Currently, 57,600 STEEM per day go to authors and curators(voting rewards). Under the proposed changes, 40,012 STEEM will be allocated for those purposes.
credit to @smooth for providing these numbers
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Currently, 57,600 STEEM per day go to authors and curators(voting rewards). Under the proposed changes, 40,012 STEEM will be allocated for those purposes.
credit to @smooth for providing these numbers
How is that better? Less Steem is going to them?
The reduced inflation means a higher price, less steem will be compensated by a much higher steem price. The proposal reduces the inflation to 148% now down to 9.5%.
A higher price is only possible with an increase in demand. An increase in demand requires that the game be desirable. A game becomes more desirable as it becomes more fun. Steem Power needs to be desirable in order for Steem to be locked up long term.
So while I'm not really against reducing the inflation rate if that was all they did, but they want to reduce interest on Steem Power and make huge changes which effect the dynamics in unpredictable ways. I would be for reducing the inflation rate and reducing it for all factions equally but the proportions are being changed too and I don't support that part because it's coming at the expense of Steem Power holders.
Now I admit, the biggest holders pretty much own Steem. So they can make these changes but by showing their hand this early on it reveals that anything can be changed by the same mechanism if the minds of certain people can be influenced. So there is no certainty anymore about what certain things represent.
A much higher percentage of the new steem created is going to authors and curators.