Since cryptocurrency is big right now, I thought it might be worth having a chat here about Steemit. To be honest, I'm a bit surprised it's not being discussed more in startup communities.

About 5 weeks ago, a buddy of mine, who's been deep-diving into crypto over the last year or so, told me that I need to check out Steemit. He knows I love Reddit, and post in this sub a lot, and he was like "Why don't you post somewhere where you get paid everytime someone upvotes your content?"

I kinda called BS at first, or didn't have time, or whatever, but I eventually started checking it out and realised a few things:

1. There are people making serious bank on this platform. Particularly with the way crypto-currencies are going right now.

2. It's still in its infancy, which means it's a really good time to establish a presence

3. Over the last few weeks they've started to see exponential growth (something like 12k+ new accounts this week), which means huge future potential.

I'm still not completely sold on the platform, and there's a ton of crypto-stuff under the hood that I will probably never bother to understand, but I do kind of like the model. Roughly, upvotes (either on posts or comments) earn you Steem, and the amount you earn depends on how much Steem the voter has. Similarly, if you upvote stuff early that makes it big, then you earn Steem for curation.

Other major differences from Reddit include embeddable images, and more of an emphasis on who follows you - eg, my default "front page" is full of posts from people I follow.