"Is Steemit the Facebook Killer?"

Is Steemit the Facebook Killer?

I  don’t expect this optimistic dynamic to change anytime soon. Those that  already feature FB stock in their portfolio should enjoy many years of  steady gains. At the same time, Facebook is a technology company too,  and this sector is incredibly volatile. Even FB, as great as it is,  cannot afford to be complacent.A major, potential risk to the social media giant’s dominance is an open-source network called Steemit.  What makes Steemit distinct from the litany of social media garbage is  that it runs on its own blockchain-powered cryptocurrency called steem.Yahoo Finance‘s Daniel Rberts  explains it like this: “Steemit users publish a blog post — it could be  any length, any topic at all — and other users can “upvote” it. The  twist: Every upvote represents a small amount of steem power. Think of  steem power as a representation of influence, because the more you have,  the more power your upvote has to move someone else’s post up when you  upvote it. Steem power can be converted to steem dollars, which at the  moment trade for about $3.25 USD each.”With  Steemit, you get paid to do what you normally do on Facebook for free.  If the platform did take off, FB stock would genuinely become troubled.However,  Mr. Roberts remains unconvinced. Despite the fact that the writer  posted an introductory note on Steemit and made $120 in the steem  cryptocurrency, he stated that Steemit becoming a Facebook killer was “a  stretch.”

Sure, steemit is the facebook killer!