Mod of /r/millionairemakers on reddit here. I have a few questions about Steemit

in #steemit • 7 years ago

Hey Steemit,

I run /r/millionairemakers on reddit, a community of 90,000+ users where our goal is to crowdfund a millionaire. Someone suggested I take a look at Steemit, so here I am.

A few questions I have:

  1. Where does value come from? There are currently many posts with $1,000+ -- how does this much money get generated?
  2. Can users generate Steem with votes? If so, what's stopping abuse of this system?
  3. Anything else I should know about Steemit?

Thanks.

#millionairemakers
7 years ago in #steemit by
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     7 years ago 

    Welcome bro! Just so you know usually people skim over the shorter posts and tend to upvote the ones with more 'fluff', glad you joined! Curious how you were approved before on of my alt accounts i've been waiting 10 days for LOL!

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       7 years ago (edited)

      Where does value come from? There are currently many posts with $1,000+ -- how does this much money get generated?

      • The blockrewards are divvied up between voters/authors instead of miners.

      Can users generate Steem with votes? If so, what's stopping abuse of this system?

      • The more steem power one has the more influence, thus people can be flagged back down to $0 for being scammy.

      Anything else I should know about Steemit?

      • It's basically crypto onboarding, and will outpace many cryptos ever further in the coming year. Alot of us are full-time users and Steem ahs changed our lives, hence why i reached out to you, seemed like a perfect fit for #MillionaireMakers
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