RE: Was the Launch of Steem a Scam or the Only Legal Way? - Thoughts on Steem by Charlie Shrem a Week Later
There is one more important fact that people miss that justifies why Steemit Inc has mined a substantial amount of STEEM in the beginning.
Due to the rate-limitation that allows free transfers on the Steem blockchain, all new accounts need to be pre-funded with a couple dollars worth of Steem Power. That means that creating an account is among the few transactions that actually cost a fee. So, Steemit Inc needs these funds to be able to onboard new users! So far, the Steem network knows 74,241 accounts with probably +80% having been registered by Steemit.
Let's assume the account creation fee was at 3 STEEM per account from the beginning (and it was not), then that would amount to 178,178 STEEM or more than a quarter million dollars. All payed by Steemit Inc.
@charlieshrem: Since you seem very open-minded about Steem and think that you can help the whole ecosystem to grow one or the other way, I would like to offer you to call me on skype or appear.in so that I can help you understand the details that are still unclear. Only if you like, of course.
@xeroc is one of the most respected developers/contributors of bitshares & steemit, his reputation of 69 represents quite well how valuable he is in general (he is the 11 most appreciated account out of 74241 !!!) http://steemwhales.com/?p=1&s=reputation Just in case you don't know who made you the invitation ;)
WOW, you mean to tell me Dan and his buddies upvoted a bitshares developers reputation so high! WOW Amazing! I am 100% sure that is based on merit! GOOD JOB! it means a LOT!
... so pathetic
... indeed what you wrote was oh so pathetic
Thats a fantastic point that I missed. I'd love to set up a skype call with you! My email is [email protected] or add me on skype.
Is this explained in the ANN post, Oh hell no.
Stop making excusies for yet antoher instamine.
It doesn't take much brain to understand why the ANN post did not include all the business-relevant details. Further, I didn't mean to make any "excusies" but merely pointed out something that is (obviously) not so obvious to many
Right, guys guys, sorry I mined most of it even though I have launched several crypto projects , I made a woopse! I just mined most of the coins my mistake. I know that you do not understand the power over the platform that I just gave myself, but hey so what. It was a bug. I did not explain what I will be able to do with all these coins in the ANN thread, and for that matter I will leave the tech stuff out of the whitepaper too! Who reads that stuff about distro , mining rewards and how it all works anyway. I am sure that if we fill the while paper full of feel good fluff there will be more users. The more users the higher of a price I can unload my insta mined coins.