Why is my introduction worth $100? - Explain to me like I am 12 please.
I am an affiliate marketer by profession and I really do not understand.
I have spent the last several years of my life hiring content writers to write specific articles on different subjects. I have spent hundreds of dollars, but never in my life would I spend $100 on an introduction. I simply do not understand how and why it would be worth that much. I understand how it is based on up-votes, but I read some of the other posts on here and they are not exactly shakespearian.
(confused face)
If you are a company like Steemit with clearly a lot of money at your disposal surely there is better ways to market, people are more than happy to submit content for free (look at wikipedia/reddit). I am not complaining, of course I would love the money, but I have the greater interest of crypto currency at heart. I am really sorry if I am missing something really obvious and I would love for someone to explain it to me really simply so that I can understand it. Thanks in advance!
A ha! We are not like a centralized company. This is a community project. We get hired to build and maintain the site but the community purchases the "sock" in the site and decides how to allocate it. You're going to see this craziness but it is the will of the shareholders. They have a window now for which they can update their vote before payouts begin so (like holding a stock) over time the actual payout may be different.
Also, many of us really value early adopters. I see the high paying intros like a reward, it can be a bumpy ride. We are breaking in new technology and it is essential people are encouraged to be brave and try it out. It is more entrepreneurial like, you can win big but you can also have a bumpy ride. Well, just my 2 cents. The nice thing about Steemit is that it does not demand money from people so they really should not be pressured into taking on risk to use the service. It should be all profit for them; they can share with the big holders that do buy into it with the risk, large holders need lots of people to have network effect so they know they should share.
That was very interesting and informative to read, thanks for explaining it to me
I'm not sure there would be a better marketing schem than being rewarded so generously for an introduction post but even then the people are incentivise to vote because voting also rewards the voters and right now voting on introduction post is hot and this potentially means high reward.
Your introduction isn't worth much, but your engagement with the platform is worth a lot. Bitcoin is worth 1000 per user.
Thank you very much for explaining, why is my engagement with the platform worth so much? (I am sorry for asking seemingly stupid questions, I just want to amke sure I really understand why and how I can get involved)
I've been voting for introductions to make new users feel welcomed to Steem.
You should also know that the dollar amount that is shown is not all for the writer. Half of it will go to users who voted for the post. Purpose of that is to incentivize people to vote for good content.
I totally agree with you here.
Steem looks like a very good opportunity that anyone who knows about it should get in and make a few bucks on it. I've already got some people involved and I can get even more if needed. Easiest money that someone can make online. This is like another social network I've used before that paid people for sharing and voting . If anyone can remember me the name will be glad.
This is decentralised making it even better and can very much succeed with this type of business model that they came up with. Every new day people making new technologies come to life and this is just the beginning of it all.
Try the referral link: https://steemit.com/the-link-you-share?r=your_name
Your introductory piece may be worth a $100 bucks to the network at this moment. If you were to write this once there are 10,000 piece of content being published every day then it would probably be much harder to get $100 for it. But beta is beta and the voting power hasn't been distributed yet to a large enough crowd...so a few whale voting you up moves to needle fast! After July 4th, on the payday of "Independence Day" things will change a bit on that front.
Gotta strike gold hard when you realize you have a first mover advantage. ;-)
The money is created on the blockchain, not given away by Steemit. On July 4th, 10% of the current amount of Steem tokens will be added to the total, by distributing them to participants in form of SP and SD. The displayed value is based on the assumption that the market cap of steem remains the same until then.
And what happens if the market cap changes? I assume it is likely to increase?
The payout value directly follows the market cap. Coinmarketcap is a bit distorted though, they substracted Steemit's stake from the total amount. Real market cap is at 26.8M at this very moment.
And an increase in market cap would add or reduce the value? I assume reduce?
No, add of course :D In the end, you receive Steem in one form or another. That amount is decided on by the blockchain, dependend on the votes. When a Steem is worth more, your payout is too.