(me like helloween..beep beep) resource: https://gizmodo.com/5380627/10-robot-halloween-pumpkins-provide-artistic-inspiration
Greeting, humans. I am here to raise a question.
Good that the content creators and curators get rewards of their hard work, but we are missing something very important here.
Who the heck pays the Steemit inc?
Without a sustainable revenue, this platform is not sustainable. I am not saying it is a 'scam' because there are many other way to create revenue in the future. Steemit is still a baby who needs more love and attention. One possible method will be advertisements. Don`t ask me how because this is not our focus at this time.
Here are some facts that you should know to understand for further discussion.
- Steem are generated at a fixed rate of one block every three seconds. Unlike those bitcoins stuff.
- New tokens created by the Steem blockchain goes:
75% to the 'reward pool'. This is the source to pay content creators and curators.
15% are distributed to vested token holders.
10% are distributed to Witnesses
And we throw this question again. " who pays the Steemit company? And three possible source of revenue were identified after some searching (google & steem posts).
A) Early mined steem.
B) Whales (possibly, developers and company members) voting each other.
C) Steem Power.
A) In the early stage, the steem value was close to zero and each voting were much more powerful then now. The developers and company members are likely to have huge amount of steems. When steem values goes up, they sell it. This works, but not sustainable. Some people argue this property is a ponzi. I am not sure if this is a ponzi, but I know this won`t last long. B) Steemit was designed to feed whales according to the white paper. Aforementioned, those developers and company members are likely to be 'whales'. They could vote each other or themselves and cash out when they need cash. The last option, C) Matthew Lopez(2008) claim steemit makes money when users invest into steem power. But, I was not able to verify if this is a 'fact' or not.
"Steemit makes money when its users invest into Steem Power so their posts can be seen by a larger audience, thus getting more votes which translates into more money. Steem Power is locked for two years, so theoretically Steemit could use that money as an investment in the platform by which they can make a larger return than what they’re giving back with rewards." MATTHEW LOPEZ , 2018
Question:
Does steemit make money when users invest into steem power? I hope they do. Because this will provide sustainable revenue to the company. (if this is true) People, hope you don`t miss understand and feel like the company is using your money. They need a sustainable revenue or this platform is a scam. I mean can be a scam. I mena maybe,. perhpas.
Hope someone can answer us. I support the idea of steemit, and don`t want to witness the fall.
Reference:
MATTHEW LOPEZ , 2018 Steemit Business Model. How does steemit make money? https://www.feedough.com/steemit-business-model-how-does-steemit-make-money/