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RE: Learn about Voting Mana and Resource Credits in these Tutorials

in #utopian-io6 years ago (edited)

well that part is simple. it comes from Investors. When steem was set up there was an investor named freedom. between him/her ned, dan and who ever else, when they set up steem the had to back the coin with an investment to give it an initial value, then as more and more exchanges took on steem, cryptocurrency buyers started buying, pushing up the price from the initial price which would have been set by the initial investment. So lets just say freedom decided to dump his investment, he has so much, I think we would see another fall in price. As the price falls, as you can see from your own votes, the value of a vote becomes less as there is less investment to divvy out.
So it not really where does the money come from, more of a case of new coins are produced and they now have a value based on market trading and the initial investment. Does that make any sense?

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Yes, it does. Thanks for the explanation. :-)