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RE: whitepaper on inflation "Steem .. WILL achieve an instantaneous annual rate of approximately 12% after just 1 year"
The current high price of STEEM is actually hindering the platform right now I think - strange as that may sound, because the higher the price of STEEM the more it costs in STEEM Dollars to produce STEEM Power. Having a high rate of inflation in this case should at least be some kind of a break on the price rising too fast. Ideally the price should always be low enough to incentivise new people to start using the platform.
that is only if you think people are psychologically affraid when the price is high in USD. Else your thought could be answered by the fact that newbies get their free dollars to start and people may decide to invest by marketcap or marketcap devided by active-users, rather than price per coin?
(My post above is not opinion about inflation but quesiton about the whitepaper)