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RE: Crypto Currency Economics History - Part 1: Where Does the Money Come From?
interesting post! i think doubters are still concerned where the usd is coming from. so maybe instead of saying we should shift towards a more complex issue maybe add a simple, straightforward answer as well. like money comes from the pool and steemit is a democratic way of distributing it.
Steem Power (SP) and Steem Backed Dollars (SBD) are distributed as a Rewards Pool (RP) 7 days after content is published on the STEEM blockchain and divided up between the users that posted that day. The Rewards Pool is created by Block Servers and Witnesses that maintain the network and keep a portion of a controlled inflation rate of 5% for doing so, the rest is distributed as the RP to users daily for their content and comments.
Upvoted 100% and restemeeed MON and that @artzanolino original Surfyogi black and cannabis leaf animation is fuckin SIIIICK now THAT is a nice animation logo WOOOO that is NIIIIICEEE
@surfyogi sir,i'm faima new steemit join from Bangladesh.see my introduce and support me this platform.
Hey! Checkout blog post on eSteem! esteem://introduceyourself/@faima/introductionyourself-i-m-faima-i-made-a-new-entry-on-steemit-and-i-love-traditional-dance-f027802d153ca
thanks for the details 😄
it's a new way to reward content creators without having to go through advertising or sponsors if they wished to monetize. certainly something i've never seen before.