Steemit.com is a social media platform where posters/content creators can earn $$
ffof said:
ridski said:
ffof said:
"They" don't get anything. They have steem power just like anyone. Also, anyone can buy steem on the exchange called bittrex.com. It's a commodity.
steem.com doesn't make any money from people landing on their site? What a ***** idea. Who's putting up the cash for a site which doesn't even make money from hits?
Right now they are trying to attract people to the site. No one is putting up money. The points themselves are trading on exchanges so when you earn them they have real value and liquidity. If it's like if you're on reddit, and your karma moved like a stock.
In this beta time, the blockchain right now is just tallying votes and posts and points for it's first and largest payout on July 4th, and then after that, rewards will be distributed by the blockchain daily.
But karma points on reddit don't need to be backed by anything.
Someone has to be paying to register and keep up with the bandwidth for steemit.com, so money is coming in from somewhere.
Reddit karma points are just points. They aren't a cryptocurrency traded on a blockchain.
ffof said:
ridski said:
ffof said:
if you log on you will start with 10 steem $. Right now you have to log on with Facebook id. I think that may change in the future. It is in the beta form right now, they are working out kinks and ease of use to be ready for July 3 launch.
There are a ton of techie nerdie people on now all talking about steem and block chain but people have started some political discussions and other topics as well.
One thing to note is that if you edit a post, you will lose points - one of the kinks they will fix.
I noticed there are dollar values at the end of each post. Is that how much each person has earned in total or on each post?
On the home page its the total value of the thread.
On the posts and comments, its the value of the posts and comments.
APparently the developers are working on new ways of presenting the rewards.
Example thread.
https://steemit.com/steem/@clayop/lets-request-steem-to-poloniex
OP gets $17,824.51 in Steem points for posting an idea and a picture. Second poster gets $2.51 in Steem points for replying "Submitted". Third guy gets only $0.73 for the exact same post. No one else in the the thread gets more than $0.23. Some don't get anything, but have taken the time to actually contribute something meaningful. What's the point?
ffof said:
Reddit karma points are just points. They aren't a cryptocurrency traded on a blockchain.
Exactly, so what's backing up this cryptocurrency?
The money: Steem has a market cap because people speculate on it similar to other cryptocurrencies. Because of this, it’s able to reward the contributors on Steemit.com
ridski said:
Example thread.
https://steemit.com/steem/@clayop/lets-request-steem-to-poloniex
OP gets $17,824.51 in Steem points for posting an idea and a picture. Second poster gets $2.51 in Steem points for replying "Submitted". Third guy gets only $0.73 for the exact same post. No one else in the the thread gets more than $0.23. Some don't get anything, but have taken the time to actually contribute something meaningful. What's the point?
I think that posters with high numbers are posts that got a lot of upvotes and from early adopters who already own lots of steem, thus they have steem power. The more people who start using Steemit, the more everything will even out.
(edited 5 hours after initial post)
Also, right now in this beta phase, I believe the $ by the points is a bit misleading. But I would (or any one can) need to read about it on one of the nerdy steemit threads 
I know that you can get a lot of good info on the site from the CTO named dantheman.
Hey ridski- thank you for being interested It's taken me a while to figure out and I'm still trying to get a grasp as well...I think it's because we are over 40 (45? 50?) But I think there is some staying power. And certainly blockchain tech is here and is a hot topic in fintech. Steemit is attempting to find a consumer driven application for blockchain tech, and I think they are on to something. I'm hoping to catch the wave.
Is it just a coincidence that you and the CEO have the same last name? Are you the CEO?
Put your mom back on the phone ;-)
From the "what is Steem" department, here is a good introduction to Steem backed dollars:
https://steemit.com/steem/@dantheman/introduction-to-steem-dollars-sbd
For all we know, this could be the next way professional writers get paid. And it could create some new writers.
jamie- Is this you??!!
https://steemit.com/crochet-patterns/@jamie/crochet-crab-pattern
I see the only way to create a steemit account is by giving them access to my facebook account, and the procedure said it was going to take my email address (OK fine) and my friends list. It is not OK to take my friends list. My friends won't want to be contacted or followed by steemit merely because I signed up for a steemit account. That's very un-OK.
I'm pretty sure you can check the box that says NO to taking friends list.
Right now in the beta phase, they are using facebook login so that they can control for iniqueness (no multiple accounts). I think the developers are working on a better way for login for future like a)just email/phone# or perhaps b) logging in from other social sites where an individual has proven existance for a period of time like 2 yrs.
ffof said:
jamie- Is this you??!!
https://steemit.com/crochet-patterns/@jamie/crochet-crab-pattern
No, not me and not interested in adopting this platform anytime soon.
ffof said:
SOme day in the future, we won't need cash (dollars!) Transactions will be done on blockchain with cryptocurrency like Steem. No banks.
How will one tuck a blockchain into a G-String?
grocerylist said:
how is it i've been banned from MOL 6 or 7 time for ad hominem yet this spammer for money doesn't get his thread deleted?
I'm guessing it's because ffof's been here since 2001 with thoughtful posts.
If 'grocerylist' posted something like this with your one-week old handle, then... banned.
thank you, sprout.
And to anyone who happens to be reading.....for the record, there is no asking for money. This is cutting edge news about blockchain technology. I think it's very interesting and thought perhaps some of the MOL crew would like to know about it/learn more about it. There is a lot to digest, but just remember....you heard it here first
ffof said:
I'm pretty sure you can check the box that says NO to taking friends list.
Right now in the beta phase, they are using facebook login so that they can control for iniqueness (no multiple accounts). I think the developers are working on a better way for login for future like a)just email/phone# or perhaps b) logging in from other social sites where an individual has proven existance for a period of time like 2 yrs.
OK I found that but then I proceeded to create my account, and I get an error: "Only one Steem account per user is allowed". No help, no "contact us" link, no reference to it in google searches. They don't seem ready or interested in signing up masses of people if it was so easy for me to get into this black hole and don't tell me how to get out.
Tom_Reingold said:
ffof said:
I'm pretty sure you can check the box that says NO to taking friends list.
Right now in the beta phase, they are using facebook login so that they can control for iniqueness (no multiple accounts). I think the developers are working on a better way for login for future like a)just email/phone# or perhaps b) logging in from other social sites where an individual has proven existance for a period of time like 2 yrs.
OK I found that but then I proceeded to create my account, and I get an error: "Only one Steem account per user is allowed". No help, no "contact us" link, no reference to it in google searches. They don't seem ready or interested in signing up masses of people if it was so easy for me to get into this black hole and don't tell me how to get out.
that's too bad, Tom. I've read there are many glitches that are being worked out. It's brand new and a brand new concept connecting blockchain tech to a social site so I think patience is in high order.
Wow, I haven't been here to MOL in a while, but I see there is now a LIKE widget. Steem Inc is introducing SMT's (Smart Media Tokens). It's in development. Publishing sites or social sites will be able to monetize their comments/like widget by connecting to the steem blockchain. They would their own token...ie, NewYorkTimes could have the NYT token. MOL could have the MOL token. It would create a new source of revenue and at the same time reward the users/posters.
background: Steemit.com is a social media site built on blockchain technology (The Steem blockchain) and is the first blockchain capable of supporting apps. When you post or upvote on steemit.com, you can earn Steem tokens. These are tradeable tokens. Bitcoin is a token. There are over 200 tokens out there in the cryptocurrency sphere. Steemit.com is still in beta, but has been growing since May 2016 and has over 400,000 accounts.
For anyone interested:
SMT's explained https://steemit.com/smt/@mooncryption/smart-media-tokens-the-future-of-the-internet-explained
The Herbert Von King park in Brooklyn got re-furbished using only STEEM. They basically crowd-sourced on the steemit site, then traded the Steem tokens for bitcoin, then $$.
From journalist Andrew McMillen
https://www.wired.com/story/the-social-network-doling-out-millions-in-ephemeral-money/
Right now they are trying to attract people to the site. No one is putting up money. The points themselves are trading on exchanges so when you earn them they have real value and liquidity. If it's like if you're on reddit, and your karma moved like a stock.
In this beta time, the blockchain right now is just tallying votes and posts and points for it's first and largest payout on July 4th, and then after that, rewards will be distributed by the blockchain daily.