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RE: Where does all the money come from on steemit? How long can it continue?
As long as there are content providers to provide content, and content is unlimited, Steem will gain in value even under an inflationary model.
Thank you for this.
Can you explain how? I am not being facetious at all, I really would like to see e a model that works mathematically.
If you really want to understand where all the revenue and sustainability comes from, follow @jerrybanfield and read his posts involving delegation, witnesses, bot accounts, and value of upvotes just for starters.
Thanks for the link.
Looks like this is just more money going out to purchase adds.
If 10 steemers are in a biospere and they have 300 meals, it will last 100 days at 3 meals a day.
If they let in 10 more steemers in and they do not bring any food in, it will last 50 days.
If they give some of their food away to advertise for more steemers on facebook and the steemers and they do not bring in any more food in -- there is real problem.
Steemit is working and will continue to work as long as the new users bring in food from the outside (purchase steem power), which may be plenty long but not infinite.
An outside revenue source must be developed -- perhaps FB will pay steem someday.
I can't imagine that you were able to comprehend everything that explains Steemit so quickly or just from one post, but bravo if you have! My point is that it's complex and involves many aspects working together. Steemit will disrupt platforms like FB to a high degree over time. The ads you are referring to represent one small way to bring people from the tarpits of FB to be aware of Steemit. If you engage jerry directly with these questions, you will get all of your answers.
Thanks -- I'm just putting this out there AFTER doing some research.
I had already read the white paper and saw the info that jerry is discussing. But I will certainly take the time to try to dig deeper.
There is a lot of discussion that has merit on this subject that seems to have some pretty detailed information.
For example:
https://btcmanager.com/steemit-criticized-for-ponzi-scheme-like-network/
Again, I love steemit -- I really want to keep on trucking.
As we all do!
Link to Jerry asking for input.
https://steemit.com/@bycoleman/re-jerrybanfield-h2jl7o95-20180131t012241771z
I get your point @bycoleman. There will be a time that the money coming in will surpass the money that is goin out. In order for steemit to sustain itself, the money coming in must be always greater going out. I love your example on the food. Very well understood.
I think others dont get that we need investors to put in their money. No investors = no money for us to take out.