actually this statement is wrong on many levels!
Sometimes I really don't get your thinking. Let's try to break this to pieces and figure out where we are actually disagreeing.
- Bitshares has no dilution/inflation. Quantity of BTS is hardcapped to 3.7 billion.
- Bitshares has reserve pool that contains all BTS that are not in active circulation.
- Reserve pool is used to fund workers and witnesses. Bitshares is a DAC, so it's like a company, and companies need workers that can produce products and services that their customers will use.
- BTS is taken out from the reserve pool with fixed rate 5 BTS/s.
- BTS can be put back to the reserve pool by two means: Refund worker (a special worker that doesn't to anything else than transfers BTS to the reserve pool) and customers paying fees (part of the transaction fee goes to the reserve pool).
- Size of the reserve pool depends on initial amount of BTS in there, continuous subtraction of 5 BTS/s, variable addition of BTS depending on how much goes to refund workers and how much users are doing transactions, what the fees are and what portion of the fees goes to the reserve pool.
- The goal of the Bitshares DAC is to grow the reserve pool by having paying customers who pay more in fees than the DAC pays for it's workers as salaries.
So it is highly misleading to talk about only the fixed rate of 5 BTS/s coming out from reserve pool. The formula has other variables too that are important if you want to understand how the system works.