When Bitcoin was introduced, people were sceptical about it and thought it was a scam. It received much resistance from people but is now the one of the most widely used cryptocurrency. Let me just be now explain how the STEEM dollar is going to rise and dominate the crytocurrency market beating the other currencies that are ahead of it at the moment.
#Blockchains produce new tokens each time a block is produced. In other blockchains like Bitcoin, all the new coins go to the miners (the block producers). Steemit gives 75% of the tokens it produces to the reward pool (which allocates it to the users), 15% to holders of Steem power and 10% for the witnesses to power up the blockchain. With the majority of the steem tokens being allocated to the users, it will cause much activity on the steem blockchain and also the users will begin trading it on the exchange market building up its reputation and making other people to be used to it as its value will be rising continually. By allocating 75% to users and 15% to Steem power holders, you will find out that it encourages powering up more than powering down…meaning its value in the exchange markets will not be affected by many members powering down but will rather continue to rise as they will be using part of their steem in powering up.

With hardfork 19, there is a great probability of a great decrease in the inflation rate of steem. When hardfork 16 was introduced by the network in December 2016, the inflation rate was at 9.5% and it started decreasing at a rate of 0.5% per year which was very good news for Steemit. With hardfork 19 and the changes it brought, the decrease in the inflation rate will be even higher meaning the Steem dollar will now be gaining much power.

#Other blockchains require the people to mine the tokens for themselves but Steemit mines the tokens for its users and reward them for their activities on the platform. As the steem dollar is being given out to users and as the user database continues to rise, the use of the steem dollar will continue to rise too. This will also directly and indirectly attract many investors to invest in the steem dollar and will cause a majority of owners of other cryptocurrencies to convert them into steem dollars because of the value it will be continuously gaining. The effect of this will be the steem dollar dominating the exchange market.
I hope you found this helpful…watch out for more upcoming posts with more details. You can follow me so as not to miss my posts. Thank you all for making Steemit a lovely place to be.
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