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

in #steemit7 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