Where Does The Money Come From On Steemit? (Is It Sustainable?)
One of the most common questions I get from people is "Where does the money come from?" The common answer is that there is a certain amount released into existence each day but that only answers part of the question. Most people wonder if the system is essentially a perpetual motion machine. They feel that since there are no ads on the site there isn't a transfer of value and one accountant told me it doesn't make sense because a person can pay themselves creating a imbalance from an accounting aspect.
In this pool meeting I talk about a lot of concepts like what Bitcoin, Litecoin and other crypto currencies are backed by. I also talk about how venture capital works in start ups and how that relates to Steemit. Before watching the pool meeting ask yourself this.
- Does Bitcoin's ability to transfer value anywhere in the world give it value?
- If a crypto currency network had the ability to transfer value with no transaction fees anywhere in the world almost instantly would that have value?
- Do venture capitalist dump millions into companies that have never collected $0.01 from its customers or user base?
- How valuable is driving tons of traffic to a website organically?
Thank you for reading my post and please consider following me @brianphobos
Great post! very informative. Thanks for sharing.
You are welcome! Thanks for attending the pool meeting.
This post received a 2.0% upvote from @randowhale thanks to @blunderbabe! For more information, click here!
Nice info i am waiting your follow and your next content thankx mate @upbuzz
Good idea to make this post from pool!
Thanks! Yeah it promotes world peace in a lot of ways. Who doesn't have fun at a pool!
Get your pool to steam for extra credit points lol
Yeah would cost a lot! I would have to turn the hot tub heater and have it switched to the pool and it would have to be in the middle of winter and in the early morning. LOL Or I could just have the pool meeting in the hot tub.
:)
20 years on steemit?
Yeah I have been around for awhile. Reverse Ninja mine style
I also wondered how steemit generate the money. Now got the idea behind it.
It is sort of a weird concept to people because everything else has been Ad driven for the most part.
Yes very true. People only see what are obvious to their eyes or rather I would say which is physical not digital. But blockchain has created a revolution in the world and changed people's perception about money. Dear have a look at my blog and tell me how I am doing and what is lacking in my posts.
I am glad I attended today's pool meeting. I like your analogy with real estate. Still a difficult concept for outsiders to understand.
Thank you for attending the pool meeting!
It is hard for people to understand and another common thing people say is "that post isn't worth that much" And I say, Is Kim Kardasian appearing somewhere worth X amount of dollars, is a super exotic hyper car worth $2 Million dollars, is a fighter jet worth $100,000,000? YEAH.....someone was willing to pay for it.
So if a post gets paid $2,000 on here then the market has spoken!!!! People can't see if for themselves. I want to tell people that this is the new reality. The fact that a celebrity gets paid huge amounts of money doesn't mean you can't as well.
Exactamente ( Exactly )
Very informative, I agree with you. Keep it up.
Have you seen the new giveaway? See my blog post for a link to collect free crypto, a one time opportunity.
Success.