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RE: Long Live the Immortal Idea! An Introduction to Steemit for Beginners (FAQs, Common Critiques, Concerns, and Thoughts)
Thanks for providing a relatively clear and short video. Now the project kinda makes sense.
My mental interpretation is that it's a system where user's subjective value in the form of "likes" is now a currency based on investor speculation.
The result being the creation of social networks that value content creators contributions in a more direct, monetary way. Ostensibly, increasing the quality of the site's content over other platforms, which do not have a monetary incentive given to content creators.
Sound about right?