I think one of the biggest things that will help control this is the fact that many companies and projects are starting to develop their own coins and tokens. That should move some of the burden off of Steem for many of these enterprises. The fact that they have an exchange where you can trade those coins/tokens is also a really good thing. Steem will always be the main currency, but with all of these other currencies floating around out there but built on the same chain the value will be spread out more.
That is what I think anyway.
Additionally, as the value of those tokens increase, you will probably see more people converting to another form of currency so they can withdraw fiat and that in turn will return more Steem to the blockchain. That is the hope anyway.
That is not true and there is no such things like unlimited minting of coins. There is well definite guidelines to how many steem coins to be minted and that constitute a part of the reward pool in Steem blockchain. How much will be the inflation every year, that has been well defined and I think the print rate is in sync with that.
Just like Bitcoin mining halves in every four year, there is a specific guideline for the inflation to Steem coins too. The minting of Steem tokens get reduced by 0.5% every year.
Steem are generated at a fixed rate of one block every three seconds. These tokens get distributed to various actors in the system based on the defined rules of the blockchain. These actors, such as content creators, witnesses, and curators, compete in specialized ways for the tokens. Unlike the traditional PoW means of distribution, where miners are competing over raw computing power, the actors in the Steem network are incentivized to compete in ways that add value to the network.
The rate that new tokens are generated was set to 9.5% per year starting in December 2016, and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5 years.