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I mean you're partly right.
and partly wrong.
and off topic.

 7 years ago (edited) Reveal Comment

Imagine santa's elves...
poor little guys..they're making presents as fast as they can..
now imagine a (thousand or more) computers...making steem.

who assigns the value to the presents that santa's elves make?
who assigns the value to the steem?

Let me put it another way

  1. why does it matter?
  2. If you want to know the mechanics..'how it all works'.
    a. read the white paper
    b. read about eleventy zillion posts on steemit that 'splain

note: between the time you axed that question...and now.
I made $111.00
SBD transfer from wallet to BlockTrades to Coinbase ....
and now it's appreciateing..

why do I CARE where it comes from?
I'm making money off of it.

scratch that...
make it ANOTHER $60..
almost $200 in the last twenty minutes..