I think there should be a way shared to mine steem easily. Like we can do this in browser mining.
If this can happen, I will be very thankful to steem develpers.
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I think there should be a way shared to mine steem easily. Like we can do this in browser mining.
If this can happen, I will be very thankful to steem develpers.
There is a way to mine steem:
Write good content.
At least it should be.
You could also farm steem, by buying Upvotes on your articles.
It is not possible to mine STEEM. With the Steem blockchain, blocks are produced by the witnesses. Witnesses are assigned blocks based on the amount of stake-weighted votes they receive from stakeholders.
Oh now it's clear.
Thanks @timcliff
so how did people mine it in the beginning ? I have always wondered ..was it the case that witness positions were limited to the selected few ?
Mining was supported at the time the blockchain originally launched, but was disabled in favor of 100% block production via witnesses in a previous hardfork.
Edited comment makes more sense... have witnesses to run services in lieu of mining.
If it really made sense, you would run....
A large amount was ninja mined and collected by Steemit Inc and early founders / investors. Then a very smart individual with a bunch of accounts with the word rabbit in them developed a GPU miner and basically was taking all the Proof of Work rewards at one point. Then everything switched over to Delegated Proof of Stake with all block production through the witness nodes. Most of which were put in power by an anonymous ninja mine account @freedom To my knowledge we never figured out who this account was. It might have been @dan or @ned . There were also other early accounts with huge amounts of power that solidified the oligarchy.
If you are into mazes you can check out the different wallet accounts that Steemit Inc has where they waterfall different funds down an intricate maze. I'm not sure why....because we can all see it. But it does get confusing.
https://steemit.com/@steemit/transfers
https://steemit.com/@steemit2/transfers
https://steemit.com/@alpha/transfers
The interesting thing is that the @alpha account seems to earn a lot from @buildawhale and @appreciator which is very strange. I'm not really sure what is going on. Have fun with that!
All I care about is my LAMBO
...
I know what you are saying but whatchu gonna do , founders/owners always take the big stake , Mr. Satoshi also has a big Bitcoin bin , no?
I hear you man! You have to protect your own interest if you want that LAMBO.
I don't have a problem with the founder / owners getting rich but it has to be a factor when you are thinking about your money.
Satoshi's coins have never moved. They are constantly flowing to an exchange to be sold. If you look at https://steemit.com/@alpha/transfers You will see large sets of STEEM flowing to Bittrex to likely be dumped.
As investors we have to be aware of who might dump on our heads.
I have written about same concerns in past..but those are the cards we are dealt. .make lemonade with the cards you have. .or something like that
Yeah it is something we just have to note and determine if we are going to continue on here. At this time I'm going to continue to post.