It is essentially the not-yet-distributed coins that are being sold (to raise development funds as well as distribution) as well as given away to new users (for user recruitment and distribution). Steemit will say that they got them from mining, which is technically accurate.
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Hello Smooth. I really appreciate your response. So technically the owners of the steemit account are the miners? And the decision makers are Ned and Dan + a third person? Or is there no owner of the steemit account and Ned and Dan only uses the account as to serve the development and growth of the whole steemit platform and community?
Steemit Inc. is the business that developed the Steem code, launched the blockchain, and owns and operates the steemit.com web site. Steemit Inc. owns the 'steemit' account, which was created and filled by mining. Dan and Ned are the founders of Steemit Inc. and I don't believe anything else is publicly known about the ownership of Steemit Inc. other than that they had some private investment before the launch.
Hello smooth. I received several answers fro this question. But your information is by far the best reply. I think that this is important information. It changes the fundamentals for trading steem tokens. :)