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RE: Top 3 Things Every New Steemer Needs To Know
Hi spencer,
I've got a question: where does this "money in the pool" comes from?
What is steemit's business nodel to monetize itself and CREATE this money, so we can spend it to reward others?
The pool comes from the blockchain. It is "mined" from the system. It's like any other cryptocurrency platform.
Yes, Steemit's model is simply to help other people grow and become wealthy. Of course, if the value of Steem and SBD rises then they will benefit greatly because I'm sure they hold a lot of coin.
Fow now, I think it's a great place to participate on because as it grows, those of us who are here now will be able to grow along with it.
I forgot to thank you for the response. It means a lot to me 🍀
No problem!
This is a great business idea + a very great social activity
But this is not a business model... this frightens me... though I'm putting all my effort to enrich this system and get more share out of it, I can't stop thinking about the sustainability of it.
Can you help me with this concern?
All I know is that as long as people continue to use it, it will be sustained. Beyond that, I don't know. It's like any cryptocurrency. Same concerns, risks, and rewards.
I feel so, too and I'm exited to be part of it. I'm curious how this will develope.
Yes, I think it will go very well.