I am new to blockchain and steemit. After scanning the steemit, there is one question in my mind: if everyone can get rewards from steemit, where does the money come from?
I am new to blockchain and steemit. After scanning the steemit, there is one question in my mind: if everyone can get rewards from steemit, where does the money come from?
it is like mining where does the free block rewards come from
so is steem minable?
no its a comparison , bitcoin generates new bitcoin with mining, steem generates new steem for upvotes
So the more Steem power you have the more Hashpower you have like for mining
I was also confused.
I would start with this: https://steemit.com/steem/@steemrollin/steem-where-does-the-money-come-from
and then https://bitcoin.stackexchange.com/questions/182/where-do-bitcoins-come-from-and-what-gives-them-their-value
and finally a Tim Ferriss podcast is a MUST listen. He basically asks the same question like you did.
http://tim.blog/2017/06/04/nick-szabo/
thanks
Steemit doesn’t have ‘Miners’ It has ‘Witnesses’