What's the deal with Steemit? Everything you should know
Steemit.com is a social networking site that shares its value with its users. Simply put, you could say that you pay your users for writing, reading and choosing valuable content through voting, but that's not all. Steemit.com is also a very innovative crowdfunding platform because when voting Steemit.com passes to another user a certain amount of STEEM tokens, and these have a certain market value. In other words, we give valuable tokens for posts, and at the same time we do not diminish, and even come, because we get a fraction of the reward for the entry we voted for, in addition to the increase in the popularity of the entire platform, the demand for STEEM token increases the account valuation. How is everything possible? And well, there is game theory, mathematics, blockchain behind everything, but above all, the work of a genius programmer and an activist of free economy? Daniela Larimer, who so far, was the only one to introduce to TOP3 the ranking of coinmarketcap.com, two of his projects based on Blockchain? Bitshares (2014) and STEEM (2016), and just around the corner is EOS.io, which in my opinion will be even more powerful.
Where does value come from?
The value of social networking sites, ie Facebook, Reddit or Wykop, comes from content generated by users and reactions; user involvement. Every day, the value of FB changes, users devote Facebook to their attention? they write something, read something, then "lajkują ?. Similarly with Steemit, the difference is that Steemit shares this value with its co-creators. Using the comparison, one could say that Steemit is a content-producing company, and logged in users are its employees? they generate value by publishing and responding to content. Every employee immediately after hiring in Steemit? that is, creating an account, gets a certain amount of employee shares? for start. ? Shares? these, or STEEM tokens, are needed to vote for products that other employees produce? Steemit. Steemit employees themselves vote on how to distribute the creators generated by Steemit STEEM tokens among themselves. Just like in other companies, the more shares, the higher the volume. With the passage of time and successive favors? and the articles written, the amount of STEEM on our account is growing. You can also increase your influence on this vote by buying STEEM from other people.
To get STEEM you need work, resources and skills. Steem also has some inflation, the table can be found in this article. The work is carried out by authors, readers and server administrators. Steemit in our example is an enterprise and as such generates a certain daily income, but it is not calculated in fiat money. Steemit does not print money. Steemit constantly emits a small amount of STEEM token in its network? just like Bitcoin, with the difference that work is not done by excavators, only people? content authors and readers. Steemit distributes tokens in proportion to the votes that have been cast on articles, keeping users' voice under control. A single entry collects votes for exactly 7 days, then it is settled. Bitcoin, on the other hand, distributes BTC proportionally to the computing power that was involved in a given block every ~ 10 min. The STEEM transaction is free and the transfer always takes no more than 3 seconds. The transaction fee in Bitcoin can be determined by the user, and its amount affects the duration of the transaction, the forums are full of questions about how to push the blocked transaction. Block in Steem (and Bitshares) is deterministic and lasts for 3 seconds, and in Stochastic Bitcoin, which means that 10 minutes is an estimated value. The price of STEEM tokens is dealt with by the market? you can buy them on the stock exchanges? digital currencies? ie poloniex.com or bittrex.com. From the investment point of view, it is worth mentioning that STEEM is after the first? Hype? and now goes into the mature phase. This is the first project based on Blockchain, where women account for half of all users. It is also the first Blockchain in which users often do not realize that the platform on which they operate is based on Blockchain. Steemit has already had the Chinese version of YOYOW and the Russian GOLOS. The moment I write this text,? In full swing? goes work on the Polish language overlay on Steemit blockchain. Information on this subject can be found here https://strimi.info/en/ and here https://Steemit.chat/channel/strimi
Why do I need STEEM?
If you're a blogger or vlogger or plan to become one, you can start publishing now. The platform will store and share your content online for free. If you are struggling with censorship and you have problems with monetizing on YouTube and you'd rather not give your recipient this advertising slur, you'll probably be able to quickly turn off the display of your ads by posting your videos to Steemit as well.
If you represent a group or association such as a nearby Animal Shelter or other cool activity, then surely Steemit is for you! There is definitely someone in the group who takes pictures, inserts graphics and I write or can write about what is happening in your community. You are probably doing it at the moment on social networks or on your home page. By starting Steemit you may find that you will be able to finance, for example, an annual meeting, writing about what you do, what inspires you by luring out on the group. If? Mrs. Basia? the host of the hostel will set up a profile at Steemit.com, and her daughter Krysia will take pictures of the dogs, it will probably be some Kasia, Wojtek, Przemek and Monika in the network, which literally? niwnie? and help Basia. At the same time, neither Kasia, Wojtek, Bartek or Krysia will lose their account, and in addition they will receive tokens that will be allocated for this post 7 days after publication. Tokens in Steemit are separated in such a way that the author of the post gets 75% and 25% goes to the voters.
Does it cost anything?
Creating an account costs us some time, but not more than any other account. We do not have to involve any additional resources, although in my opinion it is worth doing if we like the project. It is worth special care to ensure the security of our account and use a good unique password, because over time, there will appear tokens that have their own value on the market.
Everyone can become a patron.
The coolest thing is that by strengthening the strength of our voice, in other words, our ability to transfer funds to another person, group or organization, nothing is missing from the balance! It is something that many can not imagine and rightly asks where the catch is ?! And is there one catch? tokens, which determine the strength of our vote, we can not pay immediately, the payment is spread over 13 equal parts paid out over 13 weeks. This is a procedure aimed at limiting unclean play, such a one-off reinforcement of the account, writing a post, collecting profits and paying STEEM from the account.
Can you live from it?
There are many people who succeed. At the moment, Poland ranks 7th in the world in terms of activity at Steemit.com. I believe that 2017 will be a breakthrough year in this respect. Steemit can be a godsend for bloggers who have problems monetizing their profiles on YouTube or receive nothing but comments and satisfaction at all. However, do not forget that Steemit is an experiment? although I see something more in it.