What is steemit? Why facebook and reddit could move to a platform like this in the future.

SteemSteem
$0.24636
‑2.82%
youtube.com5y ago

The dream of a free and open internet is quickly dying. The government is trying to abolish net neutrality and allow big companies to decide what you should and shouldn't watch.

Steemit is a platform like facebook and reddit but it is owned by the community instead of a large corporation. The users are allocated shares based on how much they interact with the network. Your mom likes a photo of you from christmas, steemit pays you 0.0000001 or some tiny amount because now you are part of the network.

Create a great article or video about a topic post it on steemit and if it becomes popular you can earn more shares in the network.


Steemit is an open-source, community-based website that pays you for interacting with it.
By voting or liking posts, posting original content and, well basically, doing what you already do on sites like Facebook or Reddit...where they make all the money through ad revenues based on content you're uploading...here at steemit you can earn money...so instead of advertising revenue going into the hands of corporate shareholders, content creators get what's called Steem, Steem power and Steem dollars.

Are you telling me that if I make posts on steemit like I do on facebook I’ll get paid?

Blockchain social network. Average users shouldn’t know they are on the blockchain.



Is this a scam?
No it’s based on demand. If people use the website and contribute they get paid
World of warcraft has a digital currency of it own which is bought and sold on exchanges, baseball cards


I don’t understand if everything is free who’s paying for network?
Think about steemit the same way you think about facebook.
imagine 1 steam equals 1 facebook share
As more people use the platform it increases in value facebooks market cap is 449 billion. So if I spent less time on facebook and more time on steemit it’s easy to see the value.


The focus and revenue model for this to work is good content that people want to read not generating money from advertising. So anyone can join and anyone can create content but those people who contribute the most are given a larger proportion of shares. Shares can be sold for cash on an exchange just like apple shares but with one small difference. There are no transaction fees so it’s perfect for micropayments. Revenue co



Voting based on how much influence you have. Steem vs steem power.

Problems
Steem influncers can downvote content and heavily impact users earnings. Very hard to censor

I’m really excited to start using steemit, I feel guilty for not paying attention to it earlier. After some research I now much prefer the business model for steemit over facebook. I’ll be making a few more videos this week about what it’s like to start using steem and how it works.