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Yeah we are lucky some of the top whales like Steemit and Ned and Dan don't ever vote. lol

Hmmm🤔
I think that in theory your right.
But I think I have read that because so many whales don’t vote and their Steem is idle (Steempower) the inflationary devaluation you describe doesn’t normally happen. But I have only read it .
Thanks for the thought provoking comment.