#Platforms of #Steemit and earn #Money
Steem is a technology built on top of a BitShares/Graphene blockchain.
Steemit is a social network built on top of Steem technology.
STEEM is a main cryptocurrency that is used by Steemit. #sanderlla
#sanderla> Introduction
Steemit is a blogging platform with it's own SMT called STEEM. These tokens are distributed to content creators and curators daily as rewards, based on community voting......
It’s been awhile since social networks have tried to motivate users by paying them some “money” (either real or not). Take a look, for example, at the Reddit’s try: #sanderlla
#We are thinking about creating a cryptocurrency and making it exchangeable (backed) by those shares of Reddit, and then distributing the currency to the community. The investors have explicitly agreed to this in their investment terms.
#sanderlla> And there were some others:
#Paid-for-post platforms are not new. A few forerunner platforms are Tsū and Bubblews which are now defunct. Both business models rely on posters to contribute content and their revenue is from advertisement. Patreon is similar but works slightly differently. steemit is a network with content creators and fans directly supporting their content via payments or per creation. So this is a direct tipping model from fans to content creators. #sanderlla
#Also take a look at the steemit social network: steemit is designed to drive social media activity and interaction between the registered members. A player’s value increases, in part, as a result activity on social media sites and their own verified blogs and rss feeds. In addition, a player’s value increases through dividends paid-out by other members he or she has invested in. Thus, the steemit social media activity of a player’s investments also contributes to his or her game wealth. It is in the player’s self-interest to follow, favorite, or otherwise contribute to the social media activity of those they invest in.
#sanderlla> let’s continue with Steemit
https://cdn-images-1.medium.com/max/1600/0*N5EdpYijaQ4uRftA.
#Steemit features 3 internal #currencies: #sanderlla
STEEM — diluted each year by approx 100%
Steem Power (SP) — vested for 2 years, diluted each year by approx 10%
Steem Dollars (SD) — we omit this to simplify things
High dilution rates motivate one to keep all money converted into SP. Steem Power is something that gives the content writer (but not the reader!) benefits. What are they? Let’s first discus how the Steemit platform works
#sanderlla>Content is curated by the community
#The content is curated by the community (Content Curators) and filtered to eliminate spam, porn and irrelevant information. Instead of having a special internal team of moderators or automatic spam discovery tools (like Facebook has), this is delegated to the community.
#sanderlla>The content creation is rewarded
#The content creator (article/comment) is rewarded with cryptocurrency
The reward is calculated by using some weird formulas.
Reward is vested — this maximises the long-term value of the platform, i.e. reward is taking form of 50% SMD and 50% SP.
#sanderlla >Steemit’s approach:
Make all data public and let it be community property......
#sanderlla >These are the Steemit users:
Content creators/curators
Content readers
Investors
Founders
3rd-party analytics services
3rd-party frontends for Steem core
3rd-party applications built on top of the Steem core
Steem, rewarding others is as simple as voting for a post, such as you may do on Reddit, or as you would Like a posting on a Facebook.
#sanderlla>In Steemit internal currency is used to:
To reward good contents (because voting and reading are free!)
money are sent to witnesses and miners (blockchain nodes) for supporting the network.
#sanderlla >Profit for investor?
if I buy 1000 STEEM (for $200 dollars in the beginning) and just sit and wait for 2 year — what profit will i get?
A1: In the long run you will lose your money. 1000 STEEM will cost $50 dollars after 2 years in the free market without speculations. However, that doesn’t mean that in the short term in the real market (with speculations) you can get huge profits.
#sanderlla......
