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RE: Why Steem Inflation is not something people should be worried about
And as we sit here, hundreds of thousands of SteemPower IS being converted to STEEM each week.
The @steemit account alone is dumping 635k STEEM back into the system every week as it is powering down.
There are 12 accounts that have over a million SteemPower, and 8 of those are powering down.
Of the top 25 accounts, all of which have over 400k SteemPower each, 15 of them are powering down.
These 15 accounts alone are dumping more than 876,477 STEEM into the system each WEEK.
And at the same time, the system itself is creating more STEEM at a 100% doubling rate and stuffing it into accounts as SP, to be powered down.
I hope your understanding of other people's concerns about the STEEM inflation is now resolved.
Well, it is normal people with a lot of Steem Power are powering down, don't you think ? I guess everyone would do the same. They probably want to get some return from their investment. But nevertheless they can't power down more than 1/104 a week. So a lot of Steem Power is stuck in the system. This makes the inflation a lot smaller than when you look at it at first sight, which was what I actually tried to explain with my post.
Moreover, powering down is not a problem. Selling off STEEM is. As long as they don't exagerate selling off STEEM, things should still be fine. But if they start dumping their STEEM, then STEEM will collapse, and so will their STEEM POWER and their project. The current drop in Steem price is not really a concern in my opinion. The surge to 4 $ was just an initial bubble. When equilibrium is reached, price should become stable.