Steemit is like Reddit but with money for upvotes. Bear with me. I’ll explain what I mean. Bottom line, it’s supposed to be a mechanism to get your content seen and then get paid for it.
Let’s start with upvotes, the Internet Points you can get on Reddit. The example could just as easily be Are Reddit upvotes worth anything? At first glance, no. They are fun to get. They validate our activities. They prove that we did/wrote/shared something that people like. But they can’t be easily exchanged for dollars. That would defeat the intrinsic value of “I got these internet points because people liked my fresh memes.” Right? Maybe…
A higly upvoted Reddit account can be sold to someone who wants to look like an experienced redditor (it’s against the rules, but possible). Maybe a content marketer wants to look more legitimate. He knows that a new Reddit account is suspicious. So he buys an experienced account to look authoritative. If he’s willing to pay $250 for an account with 15,000 upvotes, we could establish an exchange rate between upvotes and dollars. So, the idea that upvotes are “worth” money is not totally crazy.
How could Reddit monetize upvotes? Imagine if Reddit servers awarded redditors “influence points” when they got upvotes. Redditors could spend influence points to promote content in the page rank. But here’s the smart bit: redditors could also sell their influence points for cash to the highest bidder.
You can read more here:
http://bestthenews.com/article/what-steem-and-what-steemit-wed-07272016-1811.html
it might change the motivation of developers - sharing something for financial gain instead of sharing for better society. Financial incentive might be good and bad - on Steemit people are getting depressed wasting time and not getting rewards. not sure everything shall be monetized. hope everyone will learn, share something you truly want to share and if there is financial gain, then even better, no financial gain - satisfaction of contributing to the community.
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Hey Buggy what's been blocking that chain in your brain? Don't sweat the financial waters. It's early in the transfer of WHALES . Patients is best to be a virtue and let's see see how the community begins . I hope nobody is sitting around sad an depressed cause there Steem Power is moving in penny's. There's lot's of time left . Steemit just arrived on the planet, let us let the currents steer it with good content. I like how your thinking the satisfaction of contributing .
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So i typed in the article and then it asked me to tag. could one of you explain the process to me? I am not able to post.
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Well done, always nice to see post with details
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