RE: SBD, What’s going on …
you can't refute the fact that each day the economic value of the Steem token is being drained as a direct consequence of the daily Rewards payouts
There is no evidence of this, and I think your belief of this is based on a false understanding of how the rewards pool actually works.
Quite simply there is less value in the pot after people have extracted their SBD to fiat.
Sorry, but this doesn’t make sense.
I have made my best attempt to explain a rather complex issue here for the purposes of the community and to promote discussion so I don't appreciate the downvote but thanks for your input.
I can appreciate that, but there are a lot of posts where this is being discussed, and one that presents information that is not accurate is not adding value IMO. I didn’t ‘nuke’ it though (send the rewards to 0.00) because I don’t believe you had any malicious intent behind posting bad information.
There are a lot of posts where this is being discussed but it seems to me everyone (including me) are getting caught up in the euphoria of free money. Free money always comes at a cost to someone.
I have presented in this post a point of view on the economics of what is happening and the long term economic impacts which I don't believe has been discussed by anyone at all. The topic of the economics of blockchains is not a field that is well developed or discussed in a balanced way, but it is something that is key (in my opinion) to the long term survival of any blockchain project.
Economics is one of the things that make Steem different from other cryptos. Evidence of this is that we have already seen a circular economy develop which doesn't really exist yet in other cryptos.
There are a few corner stones to it, all of which contribute in a small way to give its competitive advantage:
The people that are going to lose on this are the crypto investors who are paying overly high prices for the SBD. It is bad for them, good for us (us being the Steem community).