Message from @Graylan | gray00
Discord ID: 447190771486031872
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
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
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
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