Interesting and well done videos. This is not complicated to me, since I am a Software Programmer. But I can imagine how all this must sound like nonsense to the new users joining the Platform. It must be so confusing. Hopefully, your videos will help.
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In total I have an hours video on all of this stuff. To have to spend an hour explaining just goes to show the system is way more complex for the every day user than it needs to be. I hope over time we will see changes that make this a 5 min explanation instead of an hour
Yes, I agree. I have been telling some friends about SteemIt... but I would advertise it a lot more, if it wasn't so difficult for newbies to understand it. :-/
Oh... and my uncle keeps asking me: "Where does the money come from, to pay all the users?"
To say the truth, I can't find a simple way to explain him.
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?
Yes, it does. Thanks for the explanation. :-)