I would submit — based on close to 20 years of contributing to User-Generated Content for Rewards venues — that reducing inflation and cutting rewards isn't the answer. Most likely, what that will succeed in doing is cutting the rate of content creation in the short run, and in the longer run pushing out more valuable "hand crafted" content in favor of low-value, low-effort content that can be automatically posted in a matter of seconds.
Where does a low price come from? On the surface, a situation where there are more sellers than buyers creates constant selling pressure. BELOW that, is a culture where the primary purpose is pitching an activity geared towards selling.
What does that mean, in English? As long as the primary pitch to get someone to join Hive is "Make money" people are going to do precisely what they joined up for... make money, which means selling their Hive. If the primary pitch were BUILD STAKE in the platform you're using, then the objective swings more in the direction of powering up and HODLing, rather than selling.
Unfortunately, that genie has been let out of the bottle a long time ago, and I am not sure how we would stuff it back in.
For a long time, I've been suggesting that we need use cases here that necessitates OWNING Hive rather than SELLING Hive. Things like peer-to-peer marketplaces that keep the liquid Hive circulating internally; if I can buy a pack of rechargeable batteries for 100 Hive rather than cashing out the Hive and going to Amazon, etc; just like I would submit that more Splinterlands-LIKE dApps/communities would be a plus, because you have to have some Hive to play.
In short, we have to make it less attractive to sell.
Another thing I have suggested a couple of times is to create different classes of staking... a bit like bank certificates of deposit. Maybe channel some of that inflation at rewarding people for committing to a 1-year, or 2-year or even 5-year stake... which voluntarily locks up part of the Hive supply for longer periods of time, again making it less attractive to sell.
But hey, I could just be blowing wind out of my ass!
=^..^=
Posted Using LeoFinance Beta