I'm not quite sure I get what you stated here. When you promote an article on the promoted section of steemit you do use your funds. And those funds are destroyed via the null account, thereby taken out of supply. But forget this for a second because article promotion via steemit isnt a very big part of this blockchain.
Let's step and consider what's going on. Steem is just a stake weighted blockchain. Writing articles is just one way to earn in hopes that others use their influence (read influence derived from staked steem in the form of steem power). So when you write articles, you are hoping that others upvote you (use their influence and say you deserve more of the future inflation).
But steem is just a blockchain. As more dapps grow, more functionality outside of article writing is becoming available. For instance, take drug wars. By sharing a fight in the game on the chain, a robot upvotes your post. Take Steem Monsters, by playing games you get cards which have steem value on the internal market. Consider magic dice, where betting in a dice game one also gains tokens that offer dividends as you slowly become the house the more you play.
The point is steem is just a blockchain, and people tend to think it's only about post writing. It's not. It's a versatile stake-weighted blockchain that is growing and whose real world value is growing as more and more ways to bring in external funds continue to be onboarded.
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Sounds incredible! I want to thank you for your time, it really did help educate. It seems the more you learn about cryptos, the more you realize how big the system is. Were only 10 years into cryptos, imagine when we get into the rebellious teen years?!?!
Once again, thangs for explaining things. I need to find a nice shady tree and take a nap. To much to learn. It seems if you don't have a computer with internet right now, the world has past you.
I hear you. What drew me into this sphere is when I realized the entire Internet can be recreated and enhanced via crypto. Negative associations have kept the mainstream audience away but promising projects continue to flow in and despite what the price may indicate, Steem has some amazing talent flowing in BECAUSE of the underlying blockchain technology that was designed for vastly different purposes. You cant grow relevant. adoptable dapps on bitcoin or even ethereum because of their design flaws. STEEM was essentially designed as a efficient computing machine with high transaction volume that focuses solely on keeping records en masse. The crypto world doesnt get it yet... they're still tryin to put square pegs into round holes like they are with ethereum. But developers are slowly beginnig to realize they can create programs that run efficiently that tap into the decentralize nature of the blockchain but arent run ON the blockchain to gunk it all up. Steem has a future. And its growing.
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"STEEM was essentially designed as an efficient computing machine with high transaction volume that focuses solely on keeping records en masse". lol. Yeah, that's ready for a science fiction movie right there. I had to google DAPPS. I really thought Steemit was just a new FACEBOOK that was funded by Steem. It sounds amazing! I hope this project helps protect freedom, rather than chips away at it.
Cryptos could very well put an end to the stock market. Just think about that for a second.
Welps. Given STEEM is decentralized Steemit can still censor what it wants to read off Steem which is why they can delete stuff. Same with all of the front ends. BUT anything on STEEM stays on steem... just need a user interface that wont censor it. And it's rare that each of these unrelated dapp owners will all censor something together. And if they do... well, it probably is worth censoring, whatever it is. In any case, you can still find it on the blockchain itself.
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this thread was a great read.. thank you two!
You're welcome. We are a great pair....I have a million questions on how Steem works and he has all the answers. He forgot to tell me how to be a millionaire though Steem, because those are inside secrets that only upper management know. You know how trade secrets are, they are secret.
I think it's inportant to emphasize this: