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RE: Effect of growth in new users on payouts
That's a good correlation and it ought to work this way. Financially speaking, more the volumes => more robust demand and supply for the currency as a whole.
It will be more interesting if you can compare the average curation (votes and comments) per post made an year ago to today. I am not talking about rewards, rather only the count of it. It will possibly tell how much growth this platform is seeing holistically.