After the new proposed Changes to the Steem economy where announced, Steem price went up 118%.
Summary of Proposed Changes
This would include the following:
Set a fixed instantaneous annual creation rate of 9.5% from all sources (except Steem Dollars conversion)
- Allocate 75% of the created Steem to the Reward Fund.
- Allocate 15% of the created Steem to the Vesting Fund as interest on Steem Power.
- Allocate 10% of the created Steem to the Witnesses.
Witness rewards would be rebalanced such that the top 19 would earn 1/29th of the witness rewards, the runner up witnesses -would share 5/29th, and the miners would share 5/29th.Witnesses and miners would be paid in STEEM rather than Steem Power. All votes for witnesses would expire after 3 months, this would remove the incumbent advantage and require people to continuously evaluate and vote for witnesses.To support more equal opportunity mining the mining algorithm would be updated to use Equihash (similar to zcash).Reducing the Steem Power holding period to a minimum of three months.Lastly, under the new inflation rate there is no longer a need to perform a reverse split every 3 years. This would greatly simplify the life of exchanges.
Looks like so far most of the users like it and if the witnesses and the community are agree, changes could be made, but it will need a few weeks.
On long term this would be a huge change for the Steem inflation, liquid Steem will go down and the price of Steem up again.
Steem is totally Bullish today. Guess everyone see this new proposed Changes very positive. It has been a while that Steem was at the TOP 5 at Poloniex. "...Buy the rumors, sell the news..." as they say on the stock market ! Have a good day and Steem on !!!
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Note: 100% of the payout of this post will be paid out in Steem Power!
