You are viewing a single comment's thread from:
RE: Where does the money come from? A look into the economics of Steem.
"Where does the money come from?", or, "Who's paying?"
The condensed answer to the above is
a) "Investors"
or
b) "A self-issued currency by the network itself"
...which then triggers the next question on what gives that currency value
...aaaaand which leads back to ...Investors (giving that currency value through their demand)
also remember that time has value. In America, we often say time is money. Well curating content and value takes time. So therefore people who are blogging are the ones who are paying by their time.
I think you hit the nail on the head here. It is the elephant in the room that most people ignore. Creating content, whether it is journalistic, artistic, comedic, etc., is time consuming. In "economics", it is explained as "opportunity cost" and unfortunately most people don't behave rationally when it comes to the allocation of their time. Therefore, many people don't understand the value of others' time.
This is What I'm Counting On
I'm posting hard won information about #cannabis #cultivation. Should the platform survive a great deal of time, I'll get paid. Not much at first, but as more and more growers learn what I do, the word will spread.
Here's to Success of Steem/Steemit!
An example of plump trichomes on dry cannabis. ;)
Keep it Clean!
TheCleanGame Blog, Neatly Categorized
怎麼沒有中文化，我也想參與
Yes. And maybe they should be rewarded for doing so, unlike FB.
money came from thin air if you know how to create cryptocurrency.
Sounds like a good entry for the #bitcoinpizza discussion. :)
for me what gives the currency value is the network effect, i.e the cummunity, the aspect of liquidity, and also the proof of work effect on the network that give it value
My question exactly :)
And still no definite answer, I am afraid.