Where Does The Money on Steemit Come From?
Have you ever wondered where the money you earn on your Steemit posts and comments comes from? What even gives Steem any value? Today I will answer both of these questions in a video to help you understand the basic workings of Steemit. If you have any questions, please leave a comment below and I will try my best to answer them or point you in the right direction.
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I was asking myself that question about the number of steem that will be created.
As long we hold a lot of steem power and more steemians coming onboard, the value will skyrocket.
It is all good. Got to watch the rest of your videos.
Keep on steemin'
Exactly, power up now while Steemit is still young. With the growth of the platform, plus the SMTs coming out this year, Steem will only grow in value.
Thanks for the great content i just discovered you on you tube with your video on curation, so had to follow you and wanted to say hi!! Look forward to your upcoming posts
Hey @robmenzies, I appreciate the follow and saying hey. Glad to be connected here!
Thanks, and I appreciate the hard work you put in to deliver your content.
What I fail to understand that how does any cryptocurrency have some value? not just steem, I mean any.
Steemit and D.tube have soem sort of connection, so much like google and youtube, vimeo, and or/sphere, are unlikely to be able to compete.
Hey @brandonfrye, I was looking for videos about steemit on youtube today and the first video that caught my attention was yours :D
It was: "An In-Depth Steemit Review for Beginners".
I think in 1 week you understood way more than what I did in a month here. After that i had to find you here and follow. You are putting out some really helpful posts. Keep up the great work and thanks :)
Nice Video. This was my number one Question too.
Yeah it seems to be a popular one. Glad this helped!
Hi,
Nice insight as to where it comes from.
Have you heard of Sphere decentralized social network ?
they are similar to Steemit and will launch on 15th Feb, I wonder if they will work the same way ?
Hey @aidan-crypto, no I haven't heard of them yet. It will be hard to compete with Steem since they're launching their SMTs later this year. But I would actually like to see some competition in this area as it will improve all decentralized social platforms. Really makes you wonder what will happen to FB, Instagram, and Twitter.
FB is evil, I hope it goes down :)
Hi @brandonfrye see the link below for their pre-sales
https://sphere.social/?ref_code=5309-a38cd93b
Yes i had a guess at this and think Facebook , Insta & Twitter only have around 5 years max.
Competition is good for all .
You got a 25.21% upvote from @mercurybot courtesy of @brandonfrye!
How do you get higher % upvotes?
Thank you @brandonfrye for such a great post.
I found your videos on YouTube few days ago and then come up to steemit. I already watched some of your videos. I like your videos because it is easy to follow and to the point and I learn a lot from you in a couple of days.
Keep it up with your quality post.
Thank you so much, @mslifesteem. I appreciate the feedback and I'm happy to hear how my videos have helped. :)
My pleasure and looking forward for your upcoming quality content.
One thing is there that Quality post Compels the user to Upvote and comment.
Exactly, and I'll be covering that most likely in tomorrow's video. :)
Oh, That's great! keep it up!
See I'd love to understand how it works because I'm participating in it, and I'd like to know what I can expect from it in the future.
For example what is the assumption/theory that the price of steem will increase over time based on IF more and more steem will be generated at the same time? It seems like logical fallacy to me. I can't wrap my head around it.
On a practical level, I'm also just saying, all right, let's just enjoy the ride and see what happens... but it is irritating that it's so hard to grasp and predict its behavior.
I'm actually glad you enjoy understanding these things. I see a lot of people just doing their thing on Steemit without fully understanding it.. and that's fine. But seeing as we're given all the details is inspires me to learn more about the inner workings. And unfortunately I don't have the answer to your question about the logic they're using or what exact formula they're following to predict at what rate the inflation should decrease. But what's good is that if something were to happen, and their calculations were wrong, they could correct it with a change to the blockchain in the future.
It’s funny once we understand how money is actually created. Before blockchain, we could just watch the central banks print it, now we’re doing it ourselves essentially. I wonder whether eventually there will be a future with no money, kinda like Startrek :)
Thank you brandonfrye for making a transfer to me for an upvote of 8.80% on this post!
Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem!
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily?
To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
As a newcomer to steemit, dtube, dlive etc. I found this quite helpful. I agree, I do not need to know everyhing, same with YT but it never hurts to know more ;)
Excellent, I’m glad this helped to clear that up. :)
I actually had an idea about both halves of that question (good way to answer it btw) but not in the depth you covered.
So. Did you do something with your record/playback or could I just not see the cords on your earphones?
Thanks for another great video, I haven't seen a bad one yet.
Hey @bigtom13, thanks as always for the feedback. And yeah, I had my headphones in. They must’ve blended in with my shirt lol.
Thank you for once again answering a question before I could ask it.
Lol you’re very welcome :)
Great stuff man. Very good explanation on one of the more confusing aspects of Steemit. The Facebook example was bang on., we use these platforms with zero knowledge of how the back end of the systems work...Steemit shows us! So while it's scary....I think we just need to worry about the things we can control....Creating great content and engaging with others. Everything else, is a bonus if you can figure it out lol
And congrats on 1000 followers! So cool to see your account growth over such a short period of time...You are leading by example for sure sir!
Thank you @jongolson, and yeah it’s funny how people get upset (or turned off) because things seem complicated. But I (like you) would rather see and know what’s going on.
This post has received a 14.26% upvote from
thanks to: @brandonfrye.
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Do you know, you can also earn daily passive income simply by delegating your Steem Power to @minnowhelper by clicking following links: 10SP, 100SP, 500SP, 1000SP or Another amount. (10 SP minimum)
A Very Interesting Topic With A Very Informative Answer!! Thank-you!!
Thank you @kephawalks! :)
Thank for the great info I actually like your videos. I would comment even is you didn't do any giveaway. But I have been really lucky so far won 3 times plus a Tshirt. BTW I already transferred it into steem power before watching the video
Awesome! I didn’t realize you had won three times. Those are some really good odds. And I’m glad to hear you’re powering up. Smart move for sure!
Yes i was surprised when I saw the transaction appear on my steemify app I knew the I won again.
Brandon,
Isn't it interesting that at the bottom of the value is the belief that fiat or crytpo has value based on censuses,
Yet Steemit has a base vested following that brings it compounding value..
Thanks for the tools and tips that I couldn't have time to do or even think to research.
Oh..do use Busy? Is it a better interface besides the vote slider, to post and run things from there?
Lynn
It’s really brilliant the way the whole network is setup which is the reason I have more faith in Steem than any other crypto. And I haven’t used Busy in a while so I may need to look into again and cover all the features of that user interface.
I recently watched few of your videos which are awesome, really u gave me confident that i can earn on steemit . Thanks.
Awesome! I’m glad to hear that. Keep up the great work and the sky is the limit. :)
Amazing stuff will refer to this
Thanks @scottcbusiness. Glad to help! :)
Awesome explanation Brandon thanks! Loving your content, keep it up!
Would love to chat sometime.
Thanks @davidalexander, I appreciate it man! And sure, you can reach me on steemit.chat
You're welcome! I'll hit you up on there.
maybe money mathing game :)
Thanks for the insightful video regarding the distribution of rewards. Although this information you present is readily available for everybody with an internet connection to access, there's something about a Youtuber, (who although isn't a financial advisor), but is knowledgeable enough to give his two cents when explaining concepts such as this. When you're on your own, reading the white papers and the blue papers, like the average steemian, it's easy to miss ideas and misunderstand the concepts that they are trying to convey. That's why I love these kinds of educational videos.
Cheers Brandon!
Thanks for the feedback @chunger. Yeah, it really helps to have someone break things down. I'm glad you enjoyed it! :)
Thank you very helpfull vor me because i never earnd any curation reward
Thanks for the explanation. I just got my account approved yesterday, so I still have plenty of questions, but you answered some of them.