You need to think about steemit as a group miner. When you up vote someone you pay them the fee that steem charges when it is used in the block chain. When we mine currencies we power the system and get a small payout for using our mining power. Same thing with steemit upvotes it acts as mining steem and you get paid out the fee you made off of helping power steem.
You are viewing a single comment's thread from:
Agree that steemit upvotes act as mining steem. But steemit should make sure that only upvotes for good content or genuinely popular content will count as mining and that is why curation rewards sould be reworked. Recently I wrote a post about why resteems should be part of curation rewards.
Im new to steemit but iv been looking into how it works because as we all know nothing in life is free, nothing. A rework is a great idea because as of now iv noticed that people will post anything just to post. I havent looked into your post but ill be checking it out shortly. Very nice community on steemit glad to hear from smart individuals. upvoted
Agreed. If curation was more transparent and less annoying (the 30 minute rule could use reworking), that would be great. Preferably, it would be more rewarding than self-voting spam comments, which seems to be one of the primary forms of current abuse (that and reposting spam into trending ala BookingTeam.)
Excellent description of how Steemit works. Well done.
makes sense. thanks for the insight...