My question is, where does the funds of steemit came from?. These question came from a friend who doubts about steemits legitimacy and I want to prove her that this platform is not a scam.
Thankyou
Well the answer depends on the industry or the niche of the person. If he is tech inclined then the answer will be different and may be straight from the whitepaper or there are many resource on google here or even videos:
Just type "where does the money come from steemit"
As for an easy way to explain, it is quite simple. It happens everywhere even in the real world, where is community or like game tokens for instance, which are valueless until given value. Even money (paper) is simply paper till accepted by a group or nation as medium of exchange but now for money value is determined by govt etc and thus regulated but remember trade by barter. the value there was created by many factors becos i can very much be one-on-one relationship and you are exchanging one good for the other. Now, simply example that you can use to explain. gift cards, mayb amazon, may have started small and accepted as medium of exchange by maybe first members of staff of amazon, then amazon starts to grow in communit size and thus more members round the world who now acknowledge but still internally to amazon staff but as they grow, people who are not amazon staff start to acknowledge it too, then price can very much start to fluctuate from the original. for instance, i can have 500 amazon gift card but i need money hurriedly and i dont have time to go to amazon and i come to you and say, take this amazon paper or card and gimme 400 usd, you will give me, as long you also know of amazon and acknowledg the price of the card is actually 500. then you go to amazon and get 500. a next time someone comes to do a repeat, you will accept it more easily than the first. now an ordinary paper which is not money starts to have value and price fluctuates away from the actual price that amazon originally set it out. for steem, tokens are created and distributed but we give it value, cos we acknowledge as steemians, then the token is on coinmarketcap and even externally, people learn of steemit and its technology and try to foresee a good future here and perhaps by some tokens too, thus acknowlege it as valuable based on the value proposition that steemit provides. to scarcity happens when steemit goes mainstream and everybody wants it, but there is a small supply to be sold, the price then rises. i dont do trades, i am just basing this on logic. Nothing scam. it happens in the real world. even in the real world. there are many sides to it but using the real world will help him grasp easily.
Kuya Terry @surpassinggoogle I really appreciate your dedication and love to all. You always give your time and attention to those who needed you. More energy and power to you. Love much!
really! can I have it here?
Sure thing. Always exercise freedom in my space
My question is, where does the funds of steemit came from?. These question came from a friend who doubts about steemits legitimacy and I want to prove her that this platform is not a scam.
Thankyou
Well the answer depends on the industry or the niche of the person. If he is tech inclined then the answer will be different and may be straight from the whitepaper or there are many resource on google here or even videos:
Just type "where does the money come from steemit"
As for an easy way to explain, it is quite simple. It happens everywhere even in the real world, where is community or like game tokens for instance, which are valueless until given value. Even money (paper) is simply paper till accepted by a group or nation as medium of exchange but now for money value is determined by govt etc and thus regulated but remember trade by barter. the value there was created by many factors becos i can very much be one-on-one relationship and you are exchanging one good for the other. Now, simply example that you can use to explain. gift cards, mayb amazon, may have started small and accepted as medium of exchange by maybe first members of staff of amazon, then amazon starts to grow in communit size and thus more members round the world who now acknowledge but still internally to amazon staff but as they grow, people who are not amazon staff start to acknowledge it too, then price can very much start to fluctuate from the original. for instance, i can have 500 amazon gift card but i need money hurriedly and i dont have time to go to amazon and i come to you and say, take this amazon paper or card and gimme 400 usd, you will give me, as long you also know of amazon and acknowledg the price of the card is actually 500. then you go to amazon and get 500. a next time someone comes to do a repeat, you will accept it more easily than the first. now an ordinary paper which is not money starts to have value and price fluctuates away from the actual price that amazon originally set it out. for steem, tokens are created and distributed but we give it value, cos we acknowledge as steemians, then the token is on coinmarketcap and even externally, people learn of steemit and its technology and try to foresee a good future here and perhaps by some tokens too, thus acknowlege it as valuable based on the value proposition that steemit provides. to scarcity happens when steemit goes mainstream and everybody wants it, but there is a small supply to be sold, the price then rises. i dont do trades, i am just basing this on logic. Nothing scam. it happens in the real world. even in the real world. there are many sides to it but using the real world will help him grasp easily.
Thankyou @surpassinggoogle! I'll try to explain it also to my friend
Kuya Terry @surpassinggoogle I really appreciate your dedication and love to all. You always give your time and attention to those who needed you. More energy and power to you. Love much!
You are welcome. Thank you. Another nice post that you can learn from will be up in a bit. Stay awesome
Yes, thank you kuya 😀
okay thankyou