Hi Steemit, I'm Guy

I read a post about steemit somewhere so I looked it up and read the whitepaper on the plane last night which sounded like a really interesting experiment so I signed up and going to see what happens.

I like the idea of rewarding contributors because that's a problem that I see in other platforms but I'm wary about the implementation. It seems like there would be too much incentives for potential spam or fraud. I understand that the idea is to have the community deal with it via reputation but it seems like it might require too much effort to deal with. Effort that would otherwise be used to create content.

I also was not entirely clear from the whitepaper how the content would be monetized. I understand that contributors are compensated with steem which is created out of thin air. In the short term steem is worth whatever someone else is willing to pay for it but in the long term steem would need to be worth the value of the entire "community" aka content. That content obviously has some value but what? well that depends on how it's monetized. If it isn't monetized at some point the value of the community shrinks and steem does with it, no?

Well, as I said - I'm curious to see how this works...

Anyway, I have to get back to work. Just wanted to introduce myself.
My name is guy. I recently moved to Florida (from Brookyln) I am married and have 3 beautiful daughters (aged 5,4 and almost 1).

Guy