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Can Steem Engine go bankrupt?

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@partitura
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The last few weeks I have been quite happily playing with all the new tokens and tribes that appear on Steem and Steem Engine. It started with the appearance of PalNET. As I wrote before I invested a portion of my fiat savings to acquire a nice potion of staked PAL. Because of that staked portion of PAL I got a sizeable amount of LEO in the airdrop of SteemLeo. The rewards in LEO were quite high in the first days of that new tribe. With the rewards in LEO I acquired a sizeable staked portion of SPORTS. Point being that I did invest money to buy Steem, converted it into Steemp in Steem Engine and used that to buy PAL. After that, I used the rewards and airdrops to build my stake.

With the rewards in SPORTS I can perhaps grow my SPORTS stake, or perhaps use them to acquire a position in GG or any other new tribe that appears on the scene. Having a basis to build on, the growth of my staked assets is significant. At the moment I have around 30.000 SPORTS staked. The ratio of staked tokens versus rewards in SPORTS seems to be rather unbalanced. Each vote is worth some 4000 SPORTS. Meaning that if I use 10 votes a day, I generate 40000 SPORTS a day. More than the portion I have staked! Each day! At the current rate that is worth around 240 Steem.

To extract some of that value I have of course to convert the SPORTS (or PAL or LEO or GG or, o my God, a new token in my wallet: intrepeneur; where did that one come from??) to Steemp and transfer it to my Steem-wallet. Some of that Steem might be the Steem I put into the systeem to buy my portion of PAL. However, the value in Steem of all Steem Engine tokens I currently poses far outweighs the value of Steem I put into the system.

And I guess that goes for everyone who invested in Steem Engine tokens. And as time goes by, the difference between what I put into the system, and what my assets in the system are worth in Steem wil become larger and larger. Will it ever be possible to extract the full value out of the system?

I have the feeling that as time goes by, the total value of all Steem Engine tokens, expressed as value in Steem, will be larger then the total amount of Steem available. Is that a tenable economic situation? If a sizeble number of Steemians decides to extract there vaue from Steem Engine, the system might collapse. In effect, the classical bankrun.

Of am I, in thinking these things, a typical blockchain newbie, and am I missing some crucial point?


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