idealmike
Level X3
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Last night I came across an interesting article in my Newsreader app about a site called Steemit (steemit.com). The reason it made the news was because it has made a landmark payout of $1.3 million dollars to it's users and early significant contributors that are paid for posting high quality content to the site in a wide range of different subjects from politics to gardening, music & entertainment and more.
Steemit is a "decentralized social media platform" and has now been running for 3 months. They say that "more than $1.3 million worth of the Steem supply was distributed into the wallets of thousands of users across the world. From every corner, users have been drawn to Steemit because the system actually rewards thoughtful comments, unlike Reddit or Twitter. The community and the blockchain together power a system that gets better and better every day."
Half of the $1.3 million supply of Steem was distributed in Steem Dollars, which is basically a form of Steem worth roughly one US dollar, and half in Steem Power, a vesting currency that supercharges voting power via the platform.
One guy who posted an article 20 hours ago is apparently going to get paid $1,951.59 for it and that amount keeps going up the more people that comment on and upvote it.
You can create an account with Facebook or Twitter and then post unique articles to the site which other people can "upvote" and the more upvotes you get on your articles, the more you get paid.
I'm still trying to get my head around how Steem works but these videos should bring you up to speed about how the basics of Steem works and how you can use it to make money by posting high quality content on the site that other Steem users like.
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A blockchain-based software network creates Steem dollars, to be used as currency, from loans on the value of Steem digital assets. Steem digital assets represent the ownership of this software network and have value because they're useful and they are scarce.
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Hmmmmm I just posted on this but now I saw this post :D
I may just have to check out this steemit.com website and see what they're all about :D
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As i can see even their members are mainly confused with most of the things there, while some of those who get it early will probably make something out of it. But make what? Real steam or money, it's unknown to me yet, as i am still so confused
Sounds interesting and confusing :) As i can see even their members are mainly confused with most of the things there, while some of those who get it early will probably make something out of it. But make what? Real steam or money, it's unknown to me yet, as i am still so confused :)
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I'd probably just do paypal payouts since that converts to the currency a person uses. This is why I agree with what Everett is saying and I too think that they are just trying to start up a new crypto currency. Bitcoins success sprouted a ton of new crypto currencies who were, and are, trying to become the next big thing but I don't know if that will happen again lol
Hmmmm, this is a bit confusing.
I can see this working if they have a backer that is paying the bills, but how long will that work out if the website is not making money on it's own? No investor will want to keep dumping money into a website that is just generating content and not showing profits. If I had a few million to waste I would do something very similar. The only difference is that I would pay actual USD or whatever currency a person uses lol :D I'd probably just do paypal payouts since that converts to the currency a person uses. This is why I agree with what Everett is saying and I too think that they are just trying to start up a new crypto currency. Bitcoins success sprouted a ton of new crypto currencies who were, and are, trying to become the next big thing but I don't know if that will happen again lol :D
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Everett
No, I have no yet discovered Steemit.. well until now. I have a few concerns though, let me address them:
Also, I'm very cautious about sites like these at first, because you can earn big, and then the next moment they are closing your doors and keeping your funds. What exactly helps them float? Has anyone registered yet? *cracks knuckles* No, I have no yet discovered Steemit.. well until now. I have a few concerns though, let me address them: [list][*]How exactly does the site earn revenue to pay out it's users for posting content[/*][*]This business model already exists, how do they know it won't fail? This model usually does fail if they have no backup earnings[/*][*]No advertisements? Hm..[/*][/list] Also, I'm very cautious about sites like these at first, because you can earn big, and then the next moment they are closing your doors and keeping your funds. What exactly helps them float? Has anyone registered yet?
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