Well, it has a similar mentality with bitcoin and based on a blockchain. I am not deeply investigated but i think its blockchain creates value with traffic of website instead of using hashrate of your cpu or gpu.
Not so different than Quora but it is serverless system and does not allow you delete or modify entries after a while… I think they are working on a hiding.
After creating lots of entries and qualitified content, the value of Steemit will exactly rise. It is what expected and will be shared with content creators which is not done by Facebook, Twitter or Quora. What people do in social media working alot for free and wait someone offers to them by willingly.
Steemit destroys the waiting time and pays you for the content based on traffic of your contents.