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RE: #Steememe - your reaction when people ask WHERE DOES THE MONEY COME FROM?
The simple truth is that the money is generated by the platform in multiple ways and if it is seen as something of value then that value will be attached.
Just like if nations around the world all came to the realization that the US dollar was just cotton paper, and could be better served as toilet paper. The value of the dollar would then reflect the price of Charmin, except that most people would actually still prefer Charmin instead of the dollar.
Good explanation but most of the people still think things only have value if they are backed by something. Like old times with money/gold ... i think is just a matter of time. We are living a moment of changes
I agree it should be backed by something. I think that Steemit is interesting because it seems that we are backing the platform with social value.
Exactly. Same happens in Facebook or any other company where valuation is calculated my number of users and quantity of info.