Message from @Graylan | gray00
Discord ID: 447190124841795594
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
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
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
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