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Steem, An incentivized, blockchain-based social media platform by bitminter

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· @bitminter · (edited)
$0.18
Steem, An incentivized, blockchain-based social media platform
https://pbs.twimg.com/media/Cm3dUUTUEAAwFGK.png

Welcome to steemit.com

@bitminter here. If you find yourself here for the first time it is because you are a member of  my mailing list. If you did not get the memo from one of my previous mails, please continue reading and thank me later. :-)

Did you know you can now earn the 3rd hottest crypto-currency 'steem' by simply  blogging on steemit.com and simply sharing your story?  It's a fact that steemit has become a world wide sensation with many members that have earned $1000's on a single post! If you would like to know a little bit more about the fastest growing trend in crypto-currency history please keep reading and register your free account to recieve $5 worth of free steem.

What is steemit.com? 'steemit.com has been described as a disruptive block-chain social media platform' 

Steemit is a blockchain database that supports community building and social interaction with cryptocurrency rewards. Steem combines concepts from social media with lessons learned from building cryptocurrencies and their communities. An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each person's contribution. Steem is the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community

How do you earn?

There are two methods of earning Steem on Steemit.

The first is by writing a blog post and earning votes for your content. The more up-votes you get the more Steem that will be distributed to your account.

However, every vote on the site is not worth a flat amount of money. Instead, the amount earned is based on both the number of votes an individual receives and the amount of Steem Power a voter has.

For example, if one user had 1,000 Steem Power and another had 10,000 Steem Power, it's clear that the latter has a more powerful account than the former. The effect of each of those two people voting on a piece of content is not equal; specifically, the user with 10,000 Steem Power's vote is worth more.

This has resulted in the development of a sort of whale chasing culture, whereby writers hope to convince the large Steem Power holders to give them upvotes. A vote by Scott or Larimer has been seen to increase the value of a post by hundreds of dollars, resulting in a pile-on effect where others chase the post.

To incentivize this sort of voting, there is also the curation reward paid out in the form of Steem Power. If a post does well, you earn more Steem Power than if a post doesn’t do well, thus incentivizing you to only vote for content that you believe is high quality.

Further, not every vote from the same account is equal in value. Voting on multiple pieces of content reduces the strength of each of your votes depending on how much time passes between each vote. Scott explained voting power by comparing it to certain video games

Getting Started?

Getting started is real easy, simply register at the top of this page  or [CLICK HERE](https://steemit.com/create_account)

Thank you for the up-vote.
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vote details (7)
@alaynaspop ·
Simply Great Information and Presentation
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πŸ‘Ž  
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vote details (2)
@brendio ·
@alaynaspop appears to be a bot that posts this same comment on multiple posts without also upvoting to support the compliment and adding nothing to the conversation. On my page, it even posted the same comment twice, so it seems to have a bug.

https://steemit.com/census/@brendio/australian-census-online-fail
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@bitcoiner ·
This is a great introductory post for new users! Thanks for doing this! =D
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@etcmike ·
May I have your permission to use the graphic and some of the text to advertise steem and steemit on another website?

Steem on,
Mike
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@bitminter · (edited)
Hi @etcmike, I must be honest that picture I just pulled off google. I am sure you can use it to advertise without offending anyone. We are all working together to build the community and your contribution helps as well. Buy yes you have my full permission to use whatever you want from this post :-)
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vote details (1)
@etcmike ·
Thank you!
Steem on,
Mike
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@joshuacr ·
I signed up. How come I can't upvote?
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