Upvoting and writing stories is in a way Steem's mining-part. But you have to keep in mind that your Steempower inflates with +/- 5% per year. So there is your risk. This 5% goes to upvoting and authors of stories. It's a battle against other users: vote better and write better stories to compensate the 5% inflation per year. I really love the concept, but I am not sure if it will attract the average every day Reddit-type of user.
RE: How can Steem Continue to Succeed? - A Story by Charlie Shrem
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How can Steem Continue to Succeed? - A Story by Charlie Shrem
I really wish concepts (such as steem which looks promising) would STOP USING the insanity of modeling things after the concept of "inflation" (interest, usery) which is an artificial finance invention which has created so much pain and suffering in the world, to enrich bankers over all others. Surely a team as innovative as steem can come up with a MUCH better model than just patterning after "inflation"! Jeesh...
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The Steem inflation is not the same kind of inflation as with fiat currency. In practice it is dilution or redistribution of wealth from those who work to those who don't. It's not simple, but there is a great post about it by @hisnameisolllie.
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