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RE: Welcome to Steemit! [A Blockchain Guide + Introduction for Creatives]

in #welcome • 7 years ago

Hi. Good post for newbies.
Question. I knew about new steem being created each day (witnesses). Is there a cap to this? What is to stop this being devalued due to none stop mining by witnesses?
Thanks

7 years ago in #welcome by
$0.32
  • Past Payouts $0.32, 0.00 TRX
  • - Author $0.25, 0.00 TRX
  • - Curators $0.07, 0.00 TRX
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     7 years ago 

    Hi there @garyph - we recommend the FAQ page for comprehensive answers here. On the topic of steem inflation here's what they say -

    https://steemit.com/faq.html

    How many new tokens are generated by the blockchain?
    Starting with the network's 16th hard fork in December 2016, Steem began creating new tokens at a yearly inflation rate of 9.5%. The inflation rate decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this pace until the overall inflation rate reaches 0.95%. This will take about 20.5 years from the time hard fork 16 went into effect.

    $0.17
    • Past Payouts $0.17, 0.00 TRX
    • - Author $0.13, 0.00 TRX
    • - Curators $0.04, 0.00 TRX
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     7 years ago 

    thank you.

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