Let’s discuss the economics within the STEEM network, like where the value of STEEM tokens comes from, how the price is determined, and how Steemit incorporates the underlying economics from STEEM into their social media platform.
In previous videos of this playlist, we’ve talked a lot about STEEM tokens and how they’re incorporated into Steemit in the form of rewards for creating and curating content. We’ve also discussed the fact that Steemit runs on top of the STEEM blockchain, from which these STEEM tokens are produced. With this concept though, there are still some questions about the details that may be lingering in regards to how this model works. We’re going to start addressing some of these questions now in this video.
We start with discussing why Steemit is different from other social media sites. We then move on to discuss how the amount of STEEM produced each day is determined. We also talk about where the value of STEEM comes from and what determines its price. From there, we move on to discuss what you can do with STEEM, STEEM Power (SP), and Steem Dollars (SBD) and why you may be incentivized to accumulate and hold one over the other.
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