Putting the Steem inflation into perspective
steem·@penguinpablo·
0.000 HBDPutting the Steem inflation into perspective
As you probably know the supply of Steem is not fixed. Each day new Steem is being created to be distributed among the best authors and curators of the network and a smaller part is for the witnesses and all Steem Power holders. ## Steem inflation rate The current inflation rate is about 9.5%, but it is set to decrease to 1% over the next 18 years. See this post by @fyrstikken for a [Supply-Table for the next 20 years](https://steemit.com/steem-inflation/@fyrstikken/what-is-the-inflation-rate-of-steem-here-is-the-supply-table-for-the-next-20-years). At the current supply of nearly 250 million Steem about 65,000 new Steem is being created per day. 65,000 Steem has a value of roughly $53,000 US Dollar at the current price of $0.82 per Steem. So about $53,000 US Dollar worth of Steem is being distributed each day. That may sound like a lot of money to you, but let's put this amount into perspective. <center>  </center> ### Did you know $3.2 million worth of Bitcoin is being mined every single day? - 12.5 new bitcoins are being created/mined roughly every 10 minutes. - 1,800 new bitcoins are being mined every day. - 1,800 BTC * $1,800 USD = **$3,240,000 US Dollar a day** ### Did you know $370 million worth of Gold is being mined every single day? - Since 2008, gold production has increased steadily to an estimated 3.1 thousand metric tons in 2016. ([source](https://www.statista.com/statistics/238414/global-gold-production-since-2005/)) - 3,100 metric tons equals 109,349,282 troy ounces of gold. - 1 ounce of Gold is worth about $1240 US Dollar. - 109,349,282 troy ounces * $1240 = $135.6 billion US Dollar a year. - **= $371.5 million US Dollar a day.** ### Did you know the ECB is 'printing' 2 billion euros every single day? Did you know the European Central Bank (ECB) is buying 60 billion euros of assets a month with newly created money? - 60 billion euros = $66.65 billion US Dollar a month - **= $2.22 billion US Dollars a day** # To sum it all up: - $2.22 billion of new printed euros by the ECB per day - $371.5 million of new mined gold per day - $3.24 million of new mined Bitcoin per day - Only $53,000 of new Steem per day! 😋 --- <center><sub>¯\\___(ツ)____/¯ *Don't miss out on my next post! Follow me @penguinpablo*</sub></center>
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