Let’s ride the choo-choo!
Gordon – “You, Thomas, are small. Small! Small! Small! Teeny-eeny-weeny. But I… I’m a big blue engine who knows everything! [laughs]
Thomas – “Bossy Sprockets! All that steam has gone through your funnel…”
Information + Resources
Steem is a decentralized social media platform, launched 2016, based on the BitShares blockchain. It is by the founders of BitShares themselves as part of their expansion. Steemit, their social media website, rewards users with STEEM or network influence (Steem Power) for bringing traffic and quality content to the site. Users can also earn Steem Dollars (SBD) to promote content or convert into Steem power. The site’s value is distributed over the bank-trust-backed real value of STEEM so users can convert it to dollars. The network has undergone rapid expansion and crossed the 600 million dollar mark on June 6.
This is part of BitShares’ plan to reshape how economies work and how users and hosts alike are incentivized for their content and sharing. While Steem is majority controlled by the owners, users can reap rewards for their content. Early cryptocurrency information from trusted sources especially seems to net hundreds or sometimes a few thousand dollars worth of STEEM at times.
Steemit is in beta currently. The site needs work to be more user-friendly and navigable but they are still in development and have received much more interest in the past month than ever as this and other cryptocurrencies continue to skyrocket in value. It’s a fun time, and earning a little money is addictive.
Expect more things like it like Synereo’s upcoming Wildspark or LBRY Credits’ upcoming content sharing platform. Reddcoin is also promising and is looking to integrate with the largest platforms. I’d say get a little bit involved in all of them if you can and if you have things to share, as you can net coins from each that are indeed valuable. You may meet some cool people while you’re at it as well. They’re all such new projects too with interesting formats, Steemit is just the oldest, so they’ve yet to see peak users or competition.
Follow me @mootytootyfrooty if you use Steemit!
Future: The Future of Social Media?