Message from @Dunk Massive

Discord ID: 447192618712170496


2018-05-19 00:15:16 UTC  

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

2018-05-19 00:15:25 UTC  

she builds all kinds of stuff for steem

2018-05-19 00:15:29 UTC  

from canada

2018-05-19 00:15:49 UTC  

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

2018-05-19 00:16:16 UTC  

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.

2018-05-19 00:16:25 UTC  

not paying

2018-05-19 00:16:28 UTC  

but you understand now ?

2018-05-19 00:16:28 UTC  

up-voting you

2018-05-19 00:16:36 UTC  

Well you have upvoting and downvoting

2018-05-19 00:16:42 UTC  

the payout peroid takes 7 days

2018-05-19 00:17:03 UTC  

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

2018-05-19 00:17:05 UTC  

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

2018-05-19 00:17:24 UTC  

yea exactly. new steempower is created

2018-05-19 00:17:49 UTC  

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

2018-05-19 00:17:58 UTC  

one steem power = one steem

2018-05-19 00:18:42 UTC  

@Grenade123 check this out

2018-05-19 00:18:49 UTC  

it'll explain the earnings

2018-05-19 00:22:42 UTC  

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?

2018-05-19 00:22:55 UTC  

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

2018-05-19 00:23:48 UTC  

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

2018-05-19 00:24:25 UTC  

@Grenade123 value comes from trading and investing

2018-05-19 00:24:38 UTC  

if steem was worth 0 it wouldnt work

2018-05-19 00:24:53 UTC  

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

2018-05-19 00:25:01 UTC  

because witnessing never went unprofitable

2018-05-19 00:25:10 UTC  

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

2018-05-19 00:25:19 UTC  

it's not free

2018-05-19 00:25:29 UTC  

you have to earn it

2018-05-19 00:25:32 UTC  

just like YouTUbe

2018-05-19 00:25:32 UTC  

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

2018-05-19 00:25:37 UTC  

no one

2018-05-19 00:25:42 UTC  

then that is free money

2018-05-19 00:25:48 UTC  

youtube doesn't give out free money

2018-05-19 00:25:51 UTC  

it's not free money.

2018-05-19 00:26:00 UTC  

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

2018-05-19 00:26:02 UTC  

Go ahead and just post stuff without trying

2018-05-19 00:26:05 UTC  

you get 0.00

2018-05-19 00:26:11 UTC  

nothing in the network is gaurenteed

2018-05-19 00:26:23 UTC  

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

2018-05-19 00:26:33 UTC  

yea e xactly

2018-05-19 00:26:35 UTC  

but this is not the point