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RE: Reasons why STEEM won't make you rich
The only way it would not be inflation is if the value of the market cap also doubled meaning each individual unit maintained its purchasing power.
The only way it would not be inflation is if the value of the market cap also doubled meaning each individual unit maintained its purchasing power.
Perhaps this is technically true, but it's practically false. Yes, each unit can purchase less, but each Steem Power holder now has nearly twice as many units. So, unlike with fiat inflation (which steals from savers), Steem inflation actually insulates savers (Steem holders) mostly.