Steem Links For Social Media Users
Read the white paper --> https://steem.io/SteemWhitePaper.pdf
What is Bitcoin mining?
"Bitcoin mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released. Anyone with access to the internet and suitable hardware can participate in mining."
Is Posting the new Mining?
"In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to solving a block."
The best in depth explanation I have seen for Steemit can be seen at https://steemit.com/steemit/@andrarchy/steemit-s-real-diabolical-plan-for-world-domination
STEEM = a DIGITAL COMMODITY that is DESIGNED to BACK a STABLE digital currency called the STEEM DOLLAR.
Steem as a Steam Engine
A steam engine "uses the expansion or rapid condensation of steam to generate power."
"Content provides the value to the Steemit social media platform. It is most similar to the water that circulates through a conventional steam power plant. Vaporized into steam one day, more content appears instantly." ~@DonkeyPong ~ Read this Original Post
Steem : An incentivized, blockchain-based social media platform.
- A source of curated news and commentary.
- A means to get high quality answers to personalized questions.
- A stable cryptocurrency pegged to the U.S. dollar.
- Free payments.
- Jobs providing above services to other members.
Steem’s purposeful realignment of economic incentives has the potential to produce fairer and more inclusive results for everyone involved than the social media and cryptocurrency platforms that have gone before it. This paper will explore the existing economic incentives and demonstrate how Steem’s incentives may result in better outcomes for most participants.
You can buy Steem Power with any amount of Bitcoin in just seconds!
"Steem wants to build a community that is mostly owned and entirely controlled by those with a long-term perspective." "SP can only be converted back to STEEM over 2 years via 104 equal weekly payments. ‘1 SP’ can be viewed as a share in a pool of STEEM. The network automatically adds STEEM to the pool every block. "SP is a requirement for voting for or against content. This means that SP is an access token that grants its holders exclusive powers within the Steem platform."
( Read More --> https://steem.io/SteemWhitePaper.pdf )