Do you provide a breakdown of where the 4000 STEEM came from? Also what is the gross income and expenses?
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Do you provide a breakdown of where the 4000 STEEM came from? Also what is the gross income and expenses?
In the end it is all on the blockchain, but we have not yet written a tool that compiles this into a sheet for example. At the end of each month we put out a share of the earnings into the pot. I think transparency will improve even more once SMT are available.
I think this is a revolving door. They sell the tokens to generate the pot and then, you give the tokens back and they sell them again next month... the reason why the pot goes up is because the value of the token goes up, and the reason why the value of the token goes up is because of demand from people wanting to buy more tokens.
so kinda like a pyramid scheme.
No. This isnt how it works at all... Buildteam generates revenue from its various services. Minnowbooster and Steemvoter are two of its revenue producing platforms. Profits come from its services and then are used to support the value of the BT token. So sort of like a real business rather than a pyramid scheme.
Thank you @spinbot!
Not exactly. The profit generated is real profit, not from selling tokens (what we do not do) but from earnings from our services. The tokens we give out are a kind of salary to our team. And they are allowed to sell them or use them to bid in the pot.
sure, every crypto currency can be called a pyramid scheme. What is steem? I token you buy and invest so more gets generated so you invest more. Kinda like a pyramid scheme.