Steemit Is Evolving Beyond Blogging

Not Your Everyday Blog

Steemit is evolving beyond your typical blog. It's how you would imagine the offspring would be if Twitter & Reddit & US Federal Reserve all got freaky one night and had a chimera child.

The result is Steemit.

Steemit is an economy with a blogging interface, but first and foremost it is a democratic economy. There should be little doubt that there is an element of pay-for-play here. Those who have a stake in the economy (via Steem Power) are those who are both most committed to the platform and who will have an inherent advantage over those without influence. The more you put into the system, the more you will get out of it.

Steemit is all about the distribution of created crypto-money, and it is the community which gets to vote who should be most entitled to it. This is why we all as users get to vote and why those votes have any value at all. Because what happens is that we lock value into the ecosystem, and we all determine who should get what fraction of any future value generated out of freshly printed Steem Dollars.

In that sense, Steemit is the Federal Reserve perse, and we are voting who gets the money printed. That money has value because people lock in value and because people want to use the platform.

But out of that all that mess, by and large a new dynamic emerges. There is generosity that comes in the form of "liking" content. People want to vote up content providers because they feel as if it has very little cost to them. As such we also have a strange dynamic popping up in terms of what can be done here.

For example:

There are lotteries that cost upvotes as entries

There are free giveaways that cost upvotes as staking participants

There are prediction markets (ex. sports betting) that require upvotes as entry fees

There is lending/borrowing using steem/sbd/steempower

There are bots that magnify rewards using delegated power

There is banking with high interest rates used because of the high returns from delegated steem power.

And this is just the start of what's going on internally within the Steemit platform. I would encourage newcomers to take advantage of many of these services which can be quite rewarding for those with limited influence. Search through commonly used channels that offer free steem or giveaways.

For example, consider:

There are a ton of other channels, but that should get you started. And personally, one of my favorites to start off on is

@sportsncoffee who offers daily sporting contests.