I read it very often: A lot of people telling others that steem or steemit are paying bloggers for creating or curating content.
Some even say its the first platform which does so. I can't validate the latter due to missing knowledge.
What I do know is that steem is not paying anyone. At least not real (fiat) money. You don't get any money from anyone here. All you get is a coin/token/asset called STEEM (if you convert or power down SBD or SP) which has no value by default. The token arises out of nothing.
But as long as people are willing to pay money or other coins for steem on exchanges, you can get real money for steeming. Which is great..
I guess the whole thing is rather philosophical but I just want to make clear that no one here, creators or members of the network, are providing more than time and effort. Paying are the people buying STEEM. Thanks to them 🎉😀
Steem on
Wow. It really makes sense. Sometimes when you think about it, where is all the money coming from. Steemit is actually am investment game for some people, that's where the real money comes from
Extremely well put.
You hit the nail on the head! - Great text! :)
"You don't get any money from anyone here. All you get is a coin/token/asset called STEEM (if you convert or power down SBD or SP) which has no value by default" could you elaborate a little more on that?
As simple as I can put it and still be correct (IF I try to explain anything more complex, I'll shoot myself in the foot... I haven't even had the time to read the white paper yet...):
When someone upvotes you, they're giving you a token called STEEM. The amount is based on their Steem Power and their current voting power.
So, say, your post is now worth 5 STEEM.
The STEEM, like the paper 5$ bills in your wallet, are worth NOTHING if no one will exchange something for them.
For $, the value is abcked by banks and governments.
For STEEM, the value is backed by people buying/selling STEEM through exchanges.
If STEEM is only on a single exchange, and a single person is wanting to buy STEEM at 50$/STEEM, your STEEM is worth 50$, therefore your post is worth 5 STEEM*50 $ = 250$
But ONLY as long as that one person keeps buying your STEEM !
IF said person decided he wanted 4 STEEM at 50$, but any extra STEEM at 20$, your steem would effectively be worth what he is ready to pay for your 5 STEEM. So 220$
Does that help ?
I'm a bit tired right now, but I have an obsession with answering people's questions, so I couldn't help it XS
Thank you. As you probably guessed , I'm new here. But thank you for making it clearer for me.
Do tell me if I've made a fool out of myself by ruining the explanation...
I'm half-asleep right now XS
You never do by trying.. Learning by doing ;)
Its not quite right yet, you don't get STEEM but Steem Power and Steem Dollars which you can power down. But since its late for me too I don't get into detail here. Just read more about it. I think its necessary for members to understand how it works..
Ok, I took an unwarranted shortcut in the conversion there XS
Yep... more and more I'm realizing that a plan is good and all, but it's DOING that matters.
I'm currently reading Ramit Sethi's Your Move book, and in it he talks about the
invisible cost of doing nothing, and how it cumulates the longer we do not take action on our plans.
Taking action may lead to failure, but doing nothing always does.
(I think that's a quote... can't remember where, but I think he said it at some point XS)
Thats my philosophy ;)
How is the book?
Very good.
Ill be trying my best to apply its lessons throughout this summer.
My main problem has always been that on one hand, I can imagine thousands of things to do... yet on the other hand, I cant seem to think up any I would be able to do XS
Launching a skill when youre not sure hiw you can help people is kind of hard XD
Steemit is not backed by any corporations. Its value is dependent of how much interest people has in the tokens. It is not paid by any advertisers and is currently not earning money. Essentially you make money by investing your effort into the platform and exchange the tokens for actual cash. Since Steemit doesn't have any recurring revenue, one big bear market could potentially make it worthless.
Not worthless, just worth less.
I knew the moment I provided such answer I'll see shit like this. I don't give a f*** if you personally believe in the platform and it's your newest god. Every investment carries risk and if someone asks about it, then I'll give an honest answer. POTENTIALLY is also included in my previous answer, see to it that it is not absolute.
Thanks for sharing.
You are new here so I guess you're not aware of the steem reward system. Try to learn about it in the FAQ and search for Steem, Steem Power and Steem Dollar, there are a lot of great tutorials who can explain it better than me. If you know more about it you will understand what I meant.
If not, let me know. I'll elaborate more then ;)
I think people are just excited about the platform so they say Steem pays. Obviously the people who know about how crypto works know that it is not a literal payment but rather a token or coin on a blockchain on the internet.
For other non crypto savvy people it's easier to say "Hey steem pays if you put in consistent quality effort over time. And if you do it in a thoughtful and respectful way you can make some money."
I just don't like the term 'pays' in this context. I would rather say 'reward', thats what it is ;)
Very true! But I like to think Steemit is paying me :)
Cheers mate!
I won't take you that illusion 😉