Steemit gives users monetary rewards for any meaningful contribution to the platform. Of these contributions the most important are:
- Creating or posting content which the other users consider valuable (like)
- Finding valuable content and upvoting it
The mechanism is designed so that the users decide what is valuable and who the rewards go to. Each user has a certain voting-power, which determines how much weight the vote has. More voting-power can be acquired by earning rewards or by purchasing it. There are also many other ways to contribute to the platform and earn rewards, but which are more technical. More information can be found on https://steem.io.
Rewards are payed in a dollar-equivalent currency, which can be converted to any other currency. The currency can be easily used inside the steem-network by sending it directly to another user anywhere in the world. Users are payed interest if they invest the earned rewards in the platform.
The Steemit -site is a front-end to the steem-blockchain. This means no content is censored, and the blockchain (all contents and history) can be accessed from any other current or future front-end. Anyone can freely create an app or frontend to the blockchain, but Steemit is the first and most complete one.
Steemit requires no log-in for consuming content, but for posting, commenting and recieving rewards a username is needed. At the moment one can use a Reddit or Facebook profile to get started. Each new user gets 3$ to get started.
Comments and Reviews
WARNING: if you are against big-data, exploitation of your devices to mine crypto for companies that hoard the wealth, and potential incrimination or blacklisting based on your personal social-media presence; then stay far away from the new wave of decentralized, blockchain based projects. If you are smart, just get off social media altogether. I understand it's addicting, but none of them were designed with your best interest in mind. They are all massive data farms, who exploit your devices processing power to save themself money. Ever think it's just a LITTLE suspicious that the government is pushing these kinds of blockchain related apps? Your faith belongs somewhere better, the government doesn't work for us, we work for the government. Don't do their work for them and make it soo easy. Weigh the benefits and potential downsides. This message comes from compassion, and i wish someone had told me this way earlier. Beware of the blockchain.
In 2023, it is basically dead for the English-speaking world. It's full of advertisements and Korean.
Steemit used to be good, but no longer good at all, it keeps failing the market compare to other similar alternatives.
I think Steemit is freemium website. It is good for people who are ready to pay dollars for Steem. But if you do not wish to spend your money on payed Steemit services, your Steemit posts would have a very little audience.
Please see: https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156 before considering. Related HN discussion: https://news.ycombinator.com/item?id=12331776
Very useful links thanks for sharing
http://web.archive.org/web/20190110080509/https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156?gi=ca938d79137e
The website is gone or page is gone, wayback has it
Innovative and incredibly addictive. Steemit.com is the most lucrative platform for content creator, curator and it's community in general. See my results here: https://steemit.com/@cryptoctopus
[Edited by cryptoctopus777, May 25]