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RE: Is Steem dying and HF21 is the death blow for Steem? HF21 can raise PAL's price against Steem!
The real interest rate (inflation rate if you wish) of Steem is nearer 20% pa than 8.5%. This is because so much STEEM is not vested and not upvoting. If nobody is going to burn their coins then we need a huge increase in activity to bring the reward pool down and the interest rate coming down towards the coin-creation rate.
What I would suggest, given the glut of STEEM, is to accelerate the decrease in the inflation rate so that it levels out much sooner.
This makes sense. I always forget the impact of non-active stuff. It must cost the large exchanges a fortune to maintain the liquidity.