Let us do this experiment, I believe we want to see some serious growth on this velocity hard fork 20, but having the account registration fee as high as 3 STEEM is way too expensive IMO, when looking at STEEMs Macro Economy.
...
Let us all lower it to 0.1 STEEM for a few months, maybe even lower so we can really onboard people without burning too much of the controlling asset of the network.
As @ned pointed out, there are now more accounts ready to be registered than there are humans on our planet, which also is an impossible possibility under the current creation fees that go to burn very valuable and important STEEM tokens, let us all lower the creation fee to as little as possible.
With todays consensus it will cost 3 Million STEEM to onboard another million users, or 3 Billion STEEM to onboard 1 Billion users which is more STEEM that will ever be minted as you can see on the inflation table below:
Year Supply Inflation New Supply 2016 250,000,000 9.50% 23,750,000 2017 273,750,000 9.08% 24,854,398 2018 298,604,398 8.66% 25,854,554 2019 324,458,952 8.24% 26,727,942 2020 351,186,894 7.82% 27,452,027 2021 378,638,921 7.40% 28,004,740 2022 406,643,661 6.98% 28,364,989 2023 435,008,650 6.55% 28,513,181 2024 463,521,832 6.13% 28,431,762 2025 491,953,593 5.71% 28,105,742 2026 520,059,335 5.29% 27,523,204 2027 547,582,539 4.87% 26,675,768 2028 574,258,308 4.45% 25,558,997 2029 599,817,304 4.03% 24,172,733 2030 623,990,038 3.61% 22,521,348 2031 646,511,386 3.19% 20,613,886 2032 667,125,272 2.77% 18,464,106 2033 685,589,378 2.35% 16,090,399 2034 701,679,777 1.93% 13,515,587 2035 715,195,364 1.51% 10,766,608 2036 725,961,973 1.08% 7,874,074 2037 733,836,047 0.95% 6,971,442 2038 740,807,489 0.95% 7,037,671 2039 747,845,160 0.95% 7,104,529 2040 754,949,689 0.95% 7,172,022 2041 762,121,711 0.95% 7,240,156 2042 769,361,868 0.95% 7,308,938 2043 776,670,805 0.95% 7,378,373 2044 784,049,178 0.95% 7,448,467 2045 791,497,645 0.95% 7,519,228
I personally want to see the price of STEEM go up to $2, $4, $40, $400 etc... And at those prices creating an account will be very costly in dollar terms.
Since we are still in BETA and are supposed to work on on-boarding, all front ends need an inexpensive price to avoid bankruptcies due to these high unnecessary fees.
With 0.1 STEEM it will still cost 100 Million STEEM to go for a billion users. I think we will do everyone a serious favor including new users and the OGs running faucets.
Please make this little change on your witnesses and let it stay at 0.1 STEEM for at least six-twelve months for it to have an effect, and maybe even lower it to 0.01 or 0.001 STEEM.
I do not like to see good STEEM being BURNED when it is not necessary. I hope we get your support on lowering the reg fee cost drastically!
Thank You!
Sincerely,
@fyrstikken / @fyrst-witness
...
Let us all lower it to 0.1 STEEM for a few months, maybe even lower so we can really onboard people without burning too much of the controlling asset of the network.
As @ned pointed out, there are now more accounts ready to be registered than there are humans on our planet, which also is an impossible possibility under the current creation fees that go to burn very valuable and important STEEM tokens, let us all lower the creation fee to as little as possible.
With todays consensus it will cost 3 Million STEEM to onboard another million users, or 3 Billion STEEM to onboard 1 Billion users which is more STEEM that will ever be minted as you can see on the inflation table below:
| Year | Supply | Inflation | New Supply |
|---|---|---|---|
| 2016 | 250,000,000 | 9.50% | 23,750,000 |
| 2017 | 273,750,000 | 9.08% | 24,854,398 |
| 2018 | 298,604,398 | 8.66% | 25,854,554 |
| 2019 | 324,458,952 | 8.24% | 26,727,942 |
| 2020 | 351,186,894 | 7.82% | 27,452,027 |
| 2021 | 378,638,921 | 7.40% | 28,004,740 |
| 2022 | 406,643,661 | 6.98% | 28,364,989 |
| 2023 | 435,008,650 | 6.55% | 28,513,181 |
| 2024 | 463,521,832 | 6.13% | 28,431,762 |
| 2025 | 491,953,593 | 5.71% | 28,105,742 |
| 2026 | 520,059,335 | 5.29% | 27,523,204 |
| 2027 | 547,582,539 | 4.87% | 26,675,768 |
| 2028 | 574,258,308 | 4.45% | 25,558,997 |
| 2029 | 599,817,304 | 4.03% | 24,172,733 |
| 2030 | 623,990,038 | 3.61% | 22,521,348 |
| 2031 | 646,511,386 | 3.19% | 20,613,886 |
| 2032 | 667,125,272 | 2.77% | 18,464,106 |
| 2033 | 685,589,378 | 2.35% | 16,090,399 |
| 2034 | 701,679,777 | 1.93% | 13,515,587 |
| 2035 | 715,195,364 | 1.51% | 10,766,608 |
| 2036 | 725,961,973 | 1.08% | 7,874,074 |
| 2037 | 733,836,047 | 0.95% | 6,971,442 |
| 2038 | 740,807,489 | 0.95% | 7,037,671 |
| 2039 | 747,845,160 | 0.95% | 7,104,529 |
| 2040 | 754,949,689 | 0.95% | 7,172,022 |
| 2041 | 762,121,711 | 0.95% | 7,240,156 |
| 2042 | 769,361,868 | 0.95% | 7,308,938 |
| 2043 | 776,670,805 | 0.95% | 7,378,373 |
| 2044 | 784,049,178 | 0.95% | 7,448,467 |
| 2045 | 791,497,645 | 0.95% | 7,519,228 |
I personally want to see the price of STEEM go up to $2, $4, $40, $400 etc... And at those prices creating an account will be very costly in dollar terms.
Since we are still in BETA and are supposed to work on on-boarding, all front ends need an inexpensive price to avoid bankruptcies due to these high unnecessary fees.
With 0.1 STEEM it will still cost 100 Million STEEM to go for a billion users. I think we will do everyone a serious favor including new users and the OGs running faucets.
Please make this little change on your witnesses and let it stay at 0.1 STEEM for at least six-twelve months for it to have an effect, and maybe even lower it to 0.01 or 0.001 STEEM.
I do not like to see good STEEM being BURNED when it is not necessary. I hope we get your support on lowering the reg fee cost drastically!
Thank You!
Sincerely,
@fyrstikken / @fyrst-witness