Inflation is the increase in money supply. It is the scourge of humanity; central banks have destroyed more lives than anything else in history.
What is the inflation rate of Steem? Every once in a while I jot down the supply by hand.
Date / Steem / SBD
3-3-18 /251,012,736 /10,038,216
4-6-18 /255,912,562 / 11,382,505
5-6-18 / 254,596,936 / 13,169,768
6-6-18 / 258,722,593 / 14,784,856
7-7-18 / 264,129,936 / 15,408,050
8-7-18 / 269,744,995 / 16,848,166
9-5-18 / 273,960,849 / 15,471,646
12-12-18 / 302,464,146 / 12,738,300
So in ~9 months the Steem supply has grown ~20% for an annualized rate of ~26%. Would 26% be considered hyperinflation in the legacy world? Maybe not, but that is a huge number. Remember, this compounds and compounding is a staggering phenomenon.
By the rule of 72 the supply will double in less than 3 years! Then that will double again in less than 3 years, and then again etc.
This has been happening while Steem fell from ~$8 to ~25 cents.
There is all kinds of talk about how to save Steem but I have never heard anyone mention an emergency inflation adjustment.
It feels like this is the elephant in the room, so, let's discuss.
