Simple question: Where does the "money" come from to make the payouts?
This sounds like another Federal Reserve perpetual motion "money" machine where something is created out of nothing. In fact, it sounds worse than the Federal Reserve because they don't use up any significant resources to create their FRN's. Here, the Steemit ecosystem has to purchase hardware and consume electricity to create their "money".
RE: Getting My Tribe on the #SteemTrain! Part 1: What is Steemit, How Does it Work, and Why am I Excited for You to Join Me on Steemit #TribeSteemUp (My first 100% Powered-up Series)
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Getting My Tribe on the #SteemTrain! Part 1: What is Steemit, How Does it Work, and Why am I Excited for You to Join Me on Steemit #TribeSteemUp (My first 100% Powered-up Series)
The payments come from the mining, except that in STEEM 75% of the rewards go to content creators & curators, vs 100% to the miners like most cryptos.
The big differences between fiat governmental currencies & cryptos is that one is based on debt & usury, kept in place only through massive military violence, while the other is based on energy consumption & algorithms, only used voluntarily, and increasingly decentralized.
Here's my 2 Minute Steemit Tip on that questions: Where does the 'money' come from?
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