What is Steemit

in bitcoin •  2 years ago 


Steemit is many thing to many people but lets look at what Steemit could potentially evolve into. Right now Steemit is mostly a niche site with the majority of trending articles from the same people. Steemit allows you to blog, post photos or talk just about anything you like and have the possibility of getting a reward for your effort. The rewards are related to the quality of your content along with the amount of connections you manage to make over time. Original content is valued most of all and content that is copied or not original is often ignored or voted down and marked as spam. If you look at the trending page and see the same people with trending posts on a daily basis you might think Steemit only has a few hundred members. Once you dig deeper down the trending page you start to see a more diverse group of people with vastly different types of content.

I was very excited when the Steemit developers said they would start working on a communities option for the Steemit platform. Having communities will really help Steemit evolve and allow groups of people with similar interests share content that is organized and targeted to the interests of that group. Communities will allow users to work together and help each other improve skills and the quality of content. I have seen quite a few people ask for features that would allow them to customize the type of content they see according to their taste. I expect more features will continue to be present as the platform matures and the user base increases.

One unique and promising thing about Steemit is the fact that it is built on a blockchain that helps to prevent censorship and a centralized point of failure. This cutting edge technology behind Steemit also allows a reward system that allows users to mine by posting original content. Once the content is posted real people vote on that content to decide what portion of the reward pool is given to each user. Steem power is a factor that helps determine the value of your vote, with the more steem power you have the more valuable your vote becomes. Rewards can be divided into Steem backed dollars and Steem power with steem backed dollars being available now and steem power a more long term proposition that increases your voting value and influence on the network. New users strive to obtain more steem power by buying it or producing quality posts and engaging with the community.

I hope you know a little more about What Steemit is
Feel free to ask questions and leave a comment below

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The power is shifted from the corporations and banks that back those corporations to the individuals, now the people have to power to say what content should be reward and how much. More and more individuals are getting paid now and barely any were getting paid with the other social networks.

This comment has received a 2.91 % upvote from @booster thanks to: @kontora.

Thank you - and Booster on!

Its really a refreshing change when so much is slanted towards large corporations.

I like bitcoin ,,,, By keeping Bitcoin primarily as a store of value and / or currency, we store it simply and theoretically at least reduce the bloat on the main blockchain.

It can also help reduce arguments and subdivisions in the future because of protocol changes, as there will be little incentive to add new features to try to compete with new projects.

So in short, I think keeping Bitcoin in focus and working well because its currency form is quite difficult so it should be the only focus. In some cases simplicity is the best.
I listen ,,,,

Interesting thought

Nice post you explained steemit very clearly .

Thanks for upvote

Thanks very happy you enjoyed it

very well explained and very much understandable. thanks for the tutorial.

Glad you liked it, I tried to get the basics out without going overboard.

Great post


i like it thank u so much 💓

Glad you enjoyed it

thx ❤

Well, Steemit is great platform for sure. There's no doubt about that. But it is lacking deeply in some areas. First of all, WHALES are the deciding factor here. They have the majority of voting power and rights to give someone a lot of earnings. Despite they are doing very hard to help others, which I doubt, anything is not happening with minnows.
If you look at the WHALES articles, most of them have little to zero value, just sharing random adventure and travel. And they are getting major payouts for that. Secondly, after hardfork19 I guess earnings are decreasing significantly. It should be corrected asap.
Steemit is great but there is a kind of dictatorship here. If it remains like this in the near future, then steemit is never gonna survive that. @azfix

That is why I am hanging quite a bit of hopes on communities, I have a feeling it will be a nice way to help groups become more organized. I try not to compare myself to what others are getting because it could be very depressing. I just focus on what I am getting and its a hell of a lot more than I would on another social media platform. I agree with you though, we need to take a long hard look at what is deemed popular and make sure it is more representative of the community.

Yeah, this is the one way. Another way to get recognition is to invest in steem power as much as one can. Instead of another crypto, I find it more feasible to invest in Steem power as it ll help you grow fast and it is itself a great investment for a long run. @azfix

Of course, the more steem power you have the greater chance you have to influence the content on the network. Do you plan to use this option?

Yeah, I have been planning to use this option. I'll invest my saving in Steem power, at least they ll grow hugely on steemit alongwith my overall stake in Steemit.

By the way, it's true. When I open the main page, I see the same people, and the same people they have in the comments. I already almost all know by their names :)

It would be nice if the whales conducted some contests or relay races for beginners. That people could get acquainted there.

They have quite a few contests on steemit held by whales and other individuals that want to help uplift the platform.

A wonderful post.. keep up the good work. Resteemed and upvoted

Thank you, very kind of you to do so.

Great Post! you're in the "hot" section rn!

Hopefully it gets on fire!

Well it's got 52 votes which I say is a good amount!

Now can't a whale effectively censor something? I mean couldn't one vote from a whale undo 100 minnow votes?

They can, but in the long run it will hurt the platform especially if its determined to be unjust.