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RE: Why Is It Easier To Explain Nuclear Physics Than Steemit To My Friends?

in #steemit7 years ago

I do not guarantee and of my answers its only my personal understanding:

  1. I have my own idea but I'm sure I am terribly misunderstood as I have read a few contradicting articles.

  2. Above my paygrade to specify this.

  3. Still a bit vague on this subject but I think they take the position of board of directors helping with the development (Decisions of hardforks etc) of the platform and running the blockchain.

  4. Crypto worth is at first determined by the project it backs and faith of miners/people buying coins in the ICO sale. For example: A new coin is released and a lot of people buy it because they trust the business plan behind it, resulting in miners and active trading thus equaling value.

  5. I think you have a clear idea of that one.

@pfunk could you perhaps shed some light?

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Thanks for adding your 2 cents