Thanks Bitrocker!
That was the missing piece of the puzzle for me... I could never understand where the money was coming from. Now I get that it's generated out of thin air... but the actual value of that money is in the assignment to great content. It messes with my mind a little bit, because it's so different from how currency usually works. It also explains why SBD has a perceived higher value based on scarcity.
Can I ask you though, what counts as a transaction on the Steem blockchain? It is literally everything; post, comment, upvote... or is it something else?
Also, could Steem slow down if there were less Witnesses? Would it be worth me setting up a Steem mining rig to potentially help Steem get even faster?
Thanks!
everything that happens from transfers , upvotes and etc are what make up the transactions. cuz almost every action reflects back to either your balance or mine.
Will Steem slow down if there were less witnesses , I believe so as there would be less nodes available for people to connect to the blockchain.