The Steemit / YouTube Dilemma

Steemit could become the next YouTube. #SteemTube

I've written recently about how Steemit could become the next YouTube. Hosting videos and actually paying content creators a fair share for the quality videos they produce.

I realize that I forgot about one major problem.

YouTube pays you day after day, month after month, year after year. Steemit pays you for a very short period of time.

If you create a YouTube video that instantly garners 1,000,000 views, then a Steemit curator model would serve you well. However, if you create evergreen content on YouTube, then the current payout model on Steemit would destroy your earnings.

Take, for example, one of my own YouTube videos. I like to garden and have created a few helpful gardening videos. One of them is about how to braid garlic. I uploaded the video in November of 2014 and still receive payment from YouTube, all of these years later.

Take a look at my YouTube analytics for that video. I've made $4.67 just in the last 28 days, from a video I posted 2.5 years ago! It's not a lot of money, but it's money that keeps showing up in my bank account.

I think that blockchain technology and a Steemit platform could eventually replace models like YouTube, Facebook, Twitter, etc. The fact that Steemit pays Steemers to create content in crypto currency is awesome! However, for content creators who make evergreen videos, the payout model on Steemit would need to change.

Apart from the issue of monetizing videos, there seems to be a growing community hoping for a #SteemTube model.

Browsing through all of these posts I could find, I haven't seen anybody address the revenue models.

• @kakradetome wrote a post about this where he mentioned the Alexandra project as a potential solution.
• @old-guy-photos wrote about the problem regarding YouTube revenue.
• @steemrollin wrote one of the best posts about Steemit replacing YouTube.
• @kierkeguardian wrote a great article about social media he wants Steemit to disrupt
• @nphacker wrote one of the most in-depth articles I've read about SteemTube.
• @joshglen wrote an extensive list of ideas for Steemit, including #SteemTube.
• @veerall asks if Steemtube is already in the making.
• @gigafart addresses the same issue I wrote about regarding YouTube censoring.
• @cccmikey was wondering if this kind of technology already exists.

Now that we see there is growing demand for a #SteemTube, let's hope the top Steemit developers give us some hope.

Shoutout to @oflyhigh, @myfirst, @jademont, @rivalhw, @pfunk of the @abit team! I would love to hear your thoughts on this.

Finally, I'm very encouraged by the vision that @ned communicates here. Now, just imagine if that video was hosted on #SteemTube.