2 Reasons Why Micro-Transactions Don't Work And Why You Should Use Steemit
Very soon steemit is not going to be the only one on the block who is paying bloggers. Two sites, Decent and Yours are primed to go public in 2017 and they hope to pay their writers using micro-transactions. Decent will be using its own coin while Yours will be using bitcoin. Now I hope both of these sites do well, not too well to challenge steemit, but well enough that writers have more places to get paid for their work. However I am very hesitant when it comes to a platform that uses micro-transactions to reward its users.
1.) People Do Not Pay For Content On The Internet
They don't need to. There is more free content online than anyone can view in their life-time. And quality content too. Video and text. Even if there is paid content out there, some one will come along and do it for free just to get the views. Advertising works to bring in revenue, but people will not pay for content when they can get it elsewhere for free. This is even more true with new, unestablished content-creators, who is going to spend money on some one they have not heard from?
2.) Not Many People Have Or Use Bitcoin
It is difficult to grow a system that uses bitcoin when a large percent of the world, at this time, doesn't use it. Yes this has a good chance of changing in the near future as bitcoin becomes more and more popular, but right now you are really limiting your market of who can pay for content when there is only so many people who have access to this type of currency. This in turn will limit the people who will post content to your site.
Steemit on the other hand has a better model that works for more users. There is no cost to post or view content in its entirely and with the coin being given out daily, there are more and more people who will have access to it as the sites continues to build. Yes it is not perfet and yes it has a long way to go, but it is a system that could work. Like I said, I hope to see more and more sites that pay people for their work but I doubt micro-transactions are the way to do it.
I politely disagree with your points except your whole last paragraph, I agree that Steemit really is a good easy model to get new users. It has a Dogecoin feel for me with the great community and more real world use built in.
Thanks for the being polite :). Another reason to like steemit :p. I'm just saying the most popular sites that deliver content (youtube, facebook, most blogs) are all free to use and although bitcoin it definitely growing, it is only a fraction of the population at this time.
Bitcoin...Steemit...thats the Future in the Money World.
Whats the website for decent?
Each upvote is a microtransaction... So how exactly are upvotes not working?
Not exactly, an upvote on steemit gives someone a piece of the daily stake that is being given to users. The size of that stake is dependent on how much steem power the person has. While with these other sites you would have to pay me, with your money, if you wanted to read my post.
For yours for instance, will you have to have funded your wallet with bitcoin before you can view content by paying for it? Or do you earn Bitcoin for free that you can also use in upvoting?