I completely agree @calaber24p and the long term value and confidence is much more important! Thanks for articulating this so clearly. Resteemed
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I completely agree @calaber24p and the long term value and confidence is much more important! Thanks for articulating this so clearly. Resteemed
It is, as long as the steem price doesnt go down, people are entering it because a large amount is issued and sold daily.
The free market and openly traded things are why pegging something is so difficult. The current system we have doesnt do a fantastic job of addressing the system quickly, but pegged currencies in the real world you would basically see governments print more until it reflected the peg. Although for the most part pegs and free markets dont tend to mesh well.
There are many approaches that could be done. We could pay more to people who 100% power up their posts fully. Stop paying curation rewards to people powering down. Starting a fund where we take 5% of all inflation and fund projects built off the steem system. I think probably the easiest would be the lower the inflation rate of steem. Theres a million things we could do. Im sure people have better ideas than me though.
thanks @calaber24 for the detailed response, very helpful
This kind of response - interaction is great and I wish I could answer your questions! I'm not new to steemit but very very new to any understanding of crypto and market factors. I hope that @calaber24p responds because I too would like to hear the answers!
And you're more than welcome, I'm so glad @sndbox is working out well for you. It's a great community in so many ways.