Steemit is a new social media platform built on Steem’s Blockchain that is revolutionizing concept of ‘’Social Mining’’

Almost all of the Cryptocurrencies issued out today depend on the Miners & Stakeholder support however Developers behind Steemit wanted to change things up a little by altering the way a Cryptocurreny is distributed

Powered by Graphene blockchain, Steem was designed to be a decentralized Social Hub that rewards individuals for their Posts, Comments and Votes

Since the early days of the Internet, there has been a constant movement of people, from mailing boards to Myspace & now Facebook, it seems like Social media is constantly changing over time and people are starting to see the profound impact it has on Society, hence why some of these Corporations are worth billions because they successfully develop platforms that usually provide some sort of free service used by millions if not billions of users

Although Facebook is one of the biggest companies around today, the likelihood of finding your mom, dad & friends is pretty high but there seems to be growing concern for this centralized service. More complains regarding Facebook’s cooperating with Government on censorship of free speech, personal data being sold to private Businesses and monetization of Advertisement targeting all of its users.

Unlike other sites that bombard you with advertising, Steemit does not rely on monetizing it’s website nor are they interested to sell our online identities to make profit. Plus it’s a Decentralized platform! Meaning that you can post want you want without having to worry about censorships - if you’re interested to know about this check out my previous Post: The Reason why Steem is deemed a Decentralized Blockchain that stores Metadata submitted via Steemit or Third-party Applications

Those new to Steemit are given a portion of Steem when they sign up, so that you can begin curating content, this allow’s someone to add more value to ‘’published post & comments’’ by curating content they feel should be rewarded from Steem’s Reward Pool. Most of the newly minted Steem is allocated to content producer and used as an incentive to reward others for their social interactions since users can earn Steem from Posting & Curating. Individuals who initiate or improve the quality of discussions, through persuasiveness, clarity, grammar and formatting, are likely to be rewarded appropriately.

Just like on Facebook & Reddit, people can upvote Posts, Reblog & Comments while it’s free to do so on Steemit, users are actually distributing newly minted to those they feel should deserve to receive it

Just know that a so called ‘’Blockchain’’ can be used for other things than just being a medium of exchange that only represents financial value! Anything posted on Steemit, Busy.org & Chainbb will be integrated and posted on to Steem’s Blockchain which will host the data using the latest state of the art Cryptology. Perhaps, we finally have a Social platforms that acknowledges interaction, but what makes it so different from existing Social Media is that the Developers wanted to involve more intrinsic value, this is done by issuing a sort of ingame currency that derives it value from those bootstrapping it.

Steem as Cryptocurrency, has no Transaction Fee’s and has a lightning fast network that make this ideal choice for mass adoption while distribution of its Token is done through it’s unique voting system in place

If you were compared Steemit to a modern day established Social Media, it would somewhat be a mixture between Medium and Reddit, just that users are paid for voting and posting in a new currencies in Steem Power (SP) & Steem Dollar (SBD)

Perhaps Steemit addresses the difficulties of growing a new social media network and bootstrapping a Cryptocurrency by combining them together. Currently valued at around $0.99 per unit (16th July 2017) and with millions paid out so far, there is a lot of incentivizes for users to engage socially on Steemit

So how, does someone earn from Steemit and what exactly the idea behind ‘’Social Mining’’?. Social Mining. Not to be mistaken with Social Media Mining, in this context it derives its meaning from the traditional method of mining digital assets or cryptocurrencies such as Bitcoin within a blockchain.

When one mines a cryptocurrency like Bitcoin, they use their CPU and/or GPU (extensively) to solve complex mathematical equations to verify the Blockchain and reward miners which thus “Mines” fresh Bitcoin into the Bitcoin ecosystem.

Now what about Social Mining?

In this case we can also call it Steem Mining. Steem has a rather unique offer and ecosystem with a multitude of things packed into one. The main idea is to provide an alternative to traditional social media platforms such as Facebook and Reddit. As we know, users are incentivised to participate on the platform as they are rewarded for contributing good quality content or by helping curate articles via rating quality content from other users.

Social mining can be briefly and unofficially defined as the mining of cryptocurrency within a blockchain via social interaction and attention driven methods rather than traditional hardware mining

In its essence, posting quality content earns you money!
Well, that’s a rather watered down explanation. You are essentially part of a very big, long term investment project. One who posts earns Steem Dollars; and that can be converted into “Voting Power” which is considered a long term investment into the Steem platform. OR one can “Power Down" and receive Steem payouts with in turn can be exchanged for Bitcoin, and then to Cash!

With Social mining, you invest your time, effort and brains

There’s absolutely no need to put down a dollar to invest and earn. All you need is a decent computer/mobile and an internet connection with great content to share with, one can “Socially Mine” Steem, rather than pay for it.