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RE: What is a Steemit Upvote? [An Illustrated Guide to Rewards]
Ok, I was definitely thinking down the incorrect avenue here.
you’re not giving anyone anything from your personal savings or Steem Power. Instead, your vote is actually tapping into a brand new batch of Steem.
Yes, I can admit, I was thinking somewhere, some way... my steem was going bye-bye. Thank you for clearing this up for me.
In regards to new steem tokens being created and distributed by the blockchain constantly... does this make the price less valuable since there are more being produced consistently? I'm thinking about how the USD is printed... the actual value of the dollar isn't much more than a sneeze into a tissue. The more the government produces, the less value it holds. Or am I incorrect?
Excellent question @goldendawne. In short (right now) Steem is counting on growth and a lot more users. (With eyes on the long term.) Luckily, our community is growing and people are building a lot of amazing applications onto Steem very frequently.
As time goes on there will be less and less Steem being "printed" each day. Inflation will dip down to +0.95% per year roughly 20 years from now. This whole timeline assumes big-time growth of the Steem ecosystem in the decade(s) to come. So it's true - the value of Steem could get chipped away over time if usership and utility begin to stagnate. Time will tell! But what's nice about Steem (and blockchain in general) is that the inflationary % is declining at a fixed rate. It's math that's predictable and immutable. Fiat can get printed and printed endlessly and circumstantially.
Thanks, you have answered some of my questions on steemit, still I want to know why sbd keeps reducing in the post before it pays out, and why posts that get $1 will still be divided by curators, I thought people only get curation rewards from $20 posts and above.
Oh, interesting questions @rejoiceavl... the $ amount that shows up at the bottom of each post actually fluctuates daily according to the market value of Steem. So before payout it can go up, down or stay the same (but for the most part it's always moving). Crypto is volatile :)
All posts are divided to curators and authors regardless of $ value. I don't believe there's a cut off point anywhere.
OK thanks alot for clarification.
Thank you for this simple answer. Definitely an explanation I can grasp onto.
I know my view, position and steemit career is long term; so I am anxious to see how many members continue on being dedicated to the platform and sharing quality posts and interaction over the next few years. I have noticed in the last month or so the quality of the commenting becoming a forefront positive change. And it's an optimistic change from the generic drive-by comments I saw months ago.