How Steem is Earned - 1min Video for My Curious Bitcoin Friends
A lot of my friends that use bitcoin are suddenly asking me about the Steem currency and how its earned. Here's the quick, one-minute answer I give before referring them to the extensive Ultimate Guide that @teamsteem put together.
Great vid thanks!
Love this graphic!
I love evolution
Bitcoin is the past. Steem is the present. What is the future?
You're most certainly welcome
Come on why is steemit guy's face still hairy..... But then again some people are still hairy like the guy thinking about dollar bills.
Ok ok ok, now why is an ape thinking about a cow......
Last one... I understand why the first four characters don't have cloths, not the last two.
I think it might be best taken with a pinch of salt.
The more people are in the network, the better the "subjective" algorithm is going to work. Brilliant!
And nobody can build an ASIC to do the job so there won't be an arms race like there was with bitcoin.
Looking at the top trending posts, you need to be a hot chick to have the top spot. There won't be anymore asics but we might get a hot chick race on steemit.....
I'm okay with that ;)
Very good !
Yes more people more votes....
THANK YOU @PiedPiper for the simple yet detailed easy explanation on the BEST and most innovative Crypto to date! Cheers!
You're most welcome. Steem on!
Loved the concise explanation and the comparison to Bitcoin mining. Very useful!
Hope it helps with getting your friends onboard.
I will link it to a few friends who are trying o get their heads around this.
I already told a few of my friends. They joined up today. To bad there's no referral points for this site.
We get paid to post, comment, and upvote(like)! Love this stuff!!!
If this doesn't get everyone into cryptocurrencies, nothing will.
They are already posting and liking...nothing changes for them. Except their account value.
bingo
yes sir, we get paid now.
Great video.. Think if you had all your Facebook friends and Instagram friends on here. This is going to be big. I hope the are understanding the whole idea of this....
They will come. And this place will blow up!
Not yet man, not the b word....I have to take my steem out first...
Take a little out to buy something nice with and then think about the long term implications of the platform... once I did that, I started powering up (investing in steem power).
I won't power down till my balance can get me a kardashian.
Yup. They'll all get their asses over here soon enough. You can only ignore the cash for so long.
lol. its just getting to understand the concept and wrap you head around what is really going on. Most people, it will take a little while. lol
Agreed. Most people still haven't even used bitcoin yet.
I already read several past post, which I agree with, this should cause a spike in Bitcoin too. I don't see how it could not. In the transactions anyway....
I agree. This is great.
where does all the money come from that they pay out??
It's automatically created by the network. You know how the Federal Reserve creates US dollars? Same deal except that with Steem, it's created automatically on a consistent basis and its awarded automatically by the network so unlike with the government, you can't have politicians or lobbyists deciding such things.
Nice I believe we need more short and to the point posts like this one for all of the new people. There are some great posts, but sometimes something short can get to the point much faster. Thanks. Useful, and good video.
I tend to agree. Many of the newcomers aren't technically inclined and need to be able to start understanding things as quickly as possible.
I agree as well, its a good video.
Totally agree! I made a 1 page sum up of the rewards system here: https://steemit.com/steemsumup/@sictransitgloria/steem-rewards-system-sum-up-1-min-read but a real video helps a lot!
Actually this is a not a perfect answer.
It is correct, but probably your friends would like to figure out why STEEM is worth anything. There is so much valuable content in the Internet, but somehow people are not earn money on that. The question is: From where the initial value (measured in dollars) came from in this project.
I like to explain this in this way:
This is easy to understand, that there are some people which pays facebook or google to promote their content, because they know that thanks to that they can earn even more then they spent - promoting content can be used as leverage.
I am not saying that Steem has value because of that, but with that said, it is very easy to explain, how social media platform can make a profit, and that having a share in profitable organization is actually pretty great idea.
So... Steem is worth more and more because not mandatory investments of average users, which belive that is good idea to invest in product which provides a value, which is great content.
Agreed. It's certainly not meant to be a thorough, comprehensive answer. It's just meant to be a general "nutshell" answer to get them started before reading the more extensive material found throughout Steemit (and, of course, the whitepaper itself).
you agree with him but forget to upvote? :P
No, I limit my votes to 20 per day because they lose power when yo do more than that.
That was short and sweet couldn't say it better!
Ok is it me or does the creator of this image need some prescriptions....
all the prescriptions... for everything