RE: Where does the money come from on Steemit??!
Rad Post @conradt! Is that you in the video?
Good to understand the "creation" of the reward pool. I don't think explaining it as "out of thin air" is a great way for new people to invest and believe haha, but pretty much what shares and stock markets do too, you buy into a "concept" they decide how much of the concept-supply is available, the shareholders and markets of trade then decide how much the concept is worth. Interesting, the more someone wants, needs and uses the platform the more it will grow as the demand is higher but because the currency can also be compared and traded with other crypto's right now means that it is also taking a hit against other less stable crypto-coins because other coins do not have a "Community/Shareholder" system in between which means in a way there is less room to Pump and Dump, most people investing in crypto only do it so they can pull out a good ROI, Steemit ensures that you are more of a long-term shareholder and the initial investment is more time based, but since you are putting time into other social media on the daily why not put some into a platform & community that pays you back?
Totally worth it to me :) What do you guys think?
Thanks. Nah its a video i found that i thought was helpful and easy to follow.. sorry forgot to reference! (I will go back an edit so others dont make the same mistake. Yeah i can see where your coming from saying it comes out of thin air might have some people abit sceptical! !
Yeah i think that's what the big appeal of Steemit is. Most people spend time on social media amyway as you said so why not earn a few extra bucks. And because its curated in theory you should get better content!