steem power is convertable unto USD. usd buys server

it's a complete economic cycle already. decentralized upon the planet.

rpc node runs around 512gb ram... witness nodes around 64

seed nodes can run anything over 4-8gb

see the reason why steem will go up, is everyone thinks it's not worth it or they dunno the technologoy. it has NO FEES. 😃

so you ahve bitcoin or litecoin. bitcoin has .22 usd fee. litecoin .01 usd. microtransaction useless. steem has 0.00

Zero better than 0.22 usd or 0.01 usd

also the addressing, all you need to know to send me a million usd is gray00. that is my account name

you dont have that with bitcoin.

@Tinytim
Most of the Alt-Right I've encountered refer to Sargon as "Sargoy of Mossad" and similar things. It should be clear that they despise him.

It should be clear than any ALT right despise any left of centre, and most probably any left of Alt right, including the right. Precisely the same as the alt left despise anyone right of the alt left including the normal left

@Graylan | gray00 and how is a node set up?

@Grenade123 its complicated

you run software

and then get votes

people vote you into top 20

you get $

voting is done via weighted stake. aka how much $ usd value voted for u

dont matter how many people

https://steemian.info/witness-faq

https://steemian.info/voting

https://steemian.info/witnesses

So in other words whoever is running the software is storing parts of the information that makes up the service.

precicely yes

it works similar to bitcoin

But this is proof of stake

and bitcoin is proof of work

although steem is mined. not Staked. techinically

@Grenade123 https://www.youtube.com/watch?v=zrY3i85W5tU

Am I required to run this software that acts as a node to use any part of steem, or only if I wish to get paid?

@Dunk Massive
I'm a Green Party member, and have been called Alt-Right for being opposed to the intolerance and violence of Antifa.

@Grenade123 only if you want to be paid for being witness. you can be paid by just writing content that is good with your brain

all you need to post is a web browser or desktop light wallet

Vessel busy.org steemit.com dlive.io d.tube etc..

i like to think of it as mining crypto with my brain

for example, someone is running competition

https://steemit.com/deepdives/@deepdives/deep-dives-research-challenge-or-first-edition-or-the-wikileaks-archive

for the best article about wikileaks.

prize is the guy will up for you 50-100usd on a post 😉

so people up-voting your content is sort of like giving you a few bucks (that is a very simplified view of it)

yes exactly

they can gift you crypto or upvote with their Delegated stake weight (aka steem power )

but an up-vote costs them nothing?

yea cost them nothing. But they bought steem or earned it

ANd powered it up into steem power.

they acn power down it all and sell it all

takes 90 days

ill show u my account

https://steemd.com/@gray00

see you can see my voting banwidth, you can see voting power. you can see every action ive ever done

transparent and on chain forever

hold on, i'm trying to wrap my head around where the money, or more accurately value, comes from with up votes.

from inflation with the creation of new steem

new steem is created portion goes to witnesses

other portion goes to content creator

just like crypto is mined with ASIC miner, inflates the number of say DOGECOINs

so kind of like new stock being issued

@Grenade123 one of my friends is a developer she would probably talk to you

she builds all kinds of stuff for steem

from canada

I can only explain it to a basic level she can explain it from the development level you see

i don't really need a developer's perspective, i'm just trying to figure out where the value comes from. Since up-votes are free, the value doesn't come from the people paying you.

not paying

but you understand now ?

up-voting you

Well you have upvoting and downvoting

the payout peroid takes 7 days

so a new "coin", i guess steem? is created every 7 days

all the upvotes and downvotes are calculated , and the steempower and steem back dollars are paid out.

yea exactly. new steempower is created

steem power = one steem that has been delgated into vesting shares into the account

one steem power = one steem

@Grenade123 check this out

https://www.youtube.com/watch?v=gbbcy6Q0nAo

it'll explain the earnings

okay, so, we have 100 coins, which are currently distributed among users. lets say all those coins added up are worth 1000 bucks usd. now its payday, so now there is 101 coins. that new coin has been given out/split up, based on all the up-votes and downvotes of everything, right? so lets say now i have that coin, or at least a part of it. technically there is still only 1000 bucks worth of value in the system, but i now have a small piece of that. more or less?

if we say value cannot be added into the system at this moment

@Giovanna Liviana "If you're not actively anti fascist, then you are a fascist" - Antifa

@Grenade123 value comes from trading and investing

if steem was worth 0 it wouldnt work

it has to be worth USD For the system to work. making it almost unstoppable now

because witnessing never went unprofitable

i know i know, but do you get my point? if this is not how it works, then i am getting "free" money from up-votes which is not a thing

it's not free

you have to earn it

just like YouTUbe

who is losing "money" to give me that new coin

no one

then that is free money

youtube doesn't give out free money

it's not free money.

companies pay for ads, and you get a piece of that

Go ahead and just post stuff without trying

you get 0.00

nothing in the network is gaurenteed

you can post stuff with try and still get 0, depending on upvotes

yea e xactly

but this is not the point

@Dunk Massive
They're fanatics.

i make something, people up-vote it. all fine and good.