You are viewing a single comment's thread from:
RE: Where does all the money come from on Steemit fully answered -- Can it continue? -- Absolutely yes!
@bycoleman Thanks very much for this detailed analysis especially of why Steemit will be sustainable .Earlier this week I was working with a homeless charity organisation & the organiser I know also goes out to Malawi (Africa) to do charity work & I mentioned that I was involved in steemit & the potential for a charity to raise funds .But his first words "where where does the money come from " "It must be a ponzi scheme " etc etc .I am still relatively new around 4 weeks now so I am bookmarking this post as well as re-steeming for my circle to see cheers once again . Also there are some good comments below with a member respectfully leveling your comments by your own admission .
@sbyse -- This is so cool that you feel you will be able to use Steemit to help raise funds for those in need. And I'm very pleased that this post can be of value for you in your endeavors!
Steemit is truly disrupting the status quo of the social networking paradigm!
I'm not understanding your final sentence.
But do see the other comments so hopefully I'll address your concern as I reply.
Many blessings and success in Malawi!
I was just highlighting the fact when another member slightly corrected one of your comments
@phgnomo **Good analisys, but you got this part wrong:
This value is the key to how it can be sustained. Remember, it was shown that the inflation rate of the coin creation is constantly reduced until there is no inflation at all. This means each year there are less coins created, so there is less revenue to pay the authors, curators, stake holders and witnesses. So we need to have a revenue source other than coin creation (inflation).** sorry for not making it clear
Thanks -- This was an important comment he made indeed and I have made a correction.
Please see this Update for the complete run down on the inflation rate of Steem.