If the price of STEEM stays above $0.253 for about 9 more hours, we're going to see SBDs start printing again. As we've seen in the past, when that happens, the virtual supply starts to fluctuate more. Basically, when SBDs are not printing we're dealing with an upper boundary of the inflation curve, but when SBDs print, then the inflation curve can shift upwards or downwards.
So, normally, I have been just posting inflation updates quarterly, but with this possible shift coming, I thought I'd take a snapshot with today's values. I'm in a rush, so not much commentary, though.... I basically just want to have these graphs for future comparisons.
Key points here are that the past peak in new STEEM per day has been confirmed. The current expected value of new STEEM per day is 89,874, and all else being equal, it would be expected to decline from here on out.
I was having a hard time imagining what this graph would look like, and now I know why. Until 2037, the ratio of (new STEEM) / (new BTC) declines in between halvings, but doubles instantly at each halving. After 2037, it increases slowly between halvings and doubles instantly at each halving.
Nothing new here. Inflation rate declines until 2037, then stabilizes. The virtual supply growth increases at a consistently slower rate until 2037, then grows at a steady rate. It's already more than half of the expected value in 2054.
Key points here are:
This is related to the middle bar in the previous graph, but I zoomed in and added in the daily change in the current supply as well as the actual daily change in virtual supply. It's important to note that when SBDs were printing, the virtual supply changed by millions, so the red line uses the right-hand scale, not the left.
That's it and I don't have time for proof reading so, "Let the reader beware". 😉 My main goal here was just to get the graphs up. I'll update the text as needed later.