This is not true. For instance, if a stock does a 2 for 1 stock split, there has been 100 percent inflation, but all that inflated value inured to the benefit of the original stockholders. So, those stockholders were not harmed. In fact, they actually benefit from the split (which is why they approved it). So, it entirely matters "where the money goes" when it is inflated.
Perhaps this is technically true, but it's practically false. Yes, each unit can purchase less, but each Steem Power holder now has nearly twice as many units. So, unlike with fiat inflation (which steals from savers), Steem inflation actually insulates savers (Steem holders) mostly.
Its not about how much wealth someone owns but what can be bought with a single unit. You may not suffer under the inflation but it is still inflation.
This is not true. For instance, if a stock does a 2 for 1 stock split, there has been 100 percent inflation, but all that inflated value inured to the benefit of the original stockholders. So, those stockholders were not harmed. In fact, they actually benefit from the split (which is why they approved it). So, it entirely matters "where the money goes" when it is inflated.
The only way it would not be inflation is if the value of the market cap also doubled meaning each individual unit maintained its purchasing power.
Perhaps this is technically true, but it's practically false. Yes, each unit can purchase less, but each Steem Power holder now has nearly twice as many units. So, unlike with fiat inflation (which steals from savers), Steem inflation actually insulates savers (Steem holders) mostly.
Its not about how much wealth someone owns but what can be bought with a single unit. You may not suffer under the inflation but it is still inflation.