Are Steemit users the Revolution of Social Media's compensation imbalance?

in #steemit7 years ago

I'll be quite honest with you; I am not a Bitcoin baby boomer of the financial crisis since 2009. I got involved in cryptocurrency, but more importantly blockchain about four months ago. If you read my first post, I told a story on how one of my close friends came to me in 2012 when Bitcoin was around $7. He said the price is violative, but the gains can be higher than any other stock on the market right now yada yada ... of course I thought of it as a scam like every other "joe shmo" in my neighborhood. He briefly mentioned blockchain, but thinking about it now like a person who missed a flight to the moon that should have been the BIGGEST argument.

Two years later, the crash of Mt.Gox occurred, and my friend sold all his Bitcoin (so he says) for around $950 a pop. I waved it off as a bullet dodged, and Bitcoin dropped to around $100. From that entire time, I never asked my friend to see proof of this concept, because from my perspective Bitcoin to me was considered a fake internet minted coin with no actual backed monetary value ... Not Anymore ... My biggest problem has always been my naivety to not see the bigger picture that's right in front of me rather I focus on minor details (I'm working on it). It is what stopped me asking for proof, but now since reading many different whitepaper PDF files of several blockchain currencies or applications, I noticed that we are still on the brink of this economic shift. The end user has more control than ever with their monetary coin account, now its social media application we are after.

Many people today than any other time before work remotely running online businesses such as Amazon/Ebay stores, freelancing, and social media content producers. Unlike Amazon and eBay sellers, freelancers and social media producers provide content. The 3rd parties that are providing these platforms such as Youtube, Facebook, Instagram, Snapchat, and Upwork are making a ridiculous amount of revenue being middlemen, and hold content hostage by either taking away the privilege or not giving back enough through generated exposure.

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The Steemit platform was built to empower people across the world using a social media blockchain. It allows virtually anyone to make money for curating (voting) and posting content in various ways such as writing, pictures, and video. The incentive system pays users 50% in Steem Dollars (content incentive), and the other 50% in Steem Power (voting power). User also has the option of doing a 100% steem power.

Censorship Proof

  • Ex. Facebook/Youtube taking down a posts due to excessive speech or copyright

Upvote Incentive System (Viewer & Promoter)

  • Both are incentivized to create and promote good content

Anti-Trolling Mechanism (no social media platform can solve this)

  • Down votes are given to those that "troll" or abuse people for sharing their content which can hurt them financially from promoting their own content on the Steemit blockchain in the future.

Rewards users that create Original Content

  • Those that post original content will be recognized by the people in the network

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I have been using Steemit for several months now, so I am still trying to figure out how everything works. In my opinion, I feel that Steemit still has a long way to go, and it may be a bit concentrated with the people who just do not like YouTrick and Facistbook that undermine their capabilities. ReddCoin, a growing social media blockchain is soon to be releasing their mobile tipping platform for primary social media sites by Q4 2017 on their roadmap. Reddcoin may not work out, but the fact there is a growing competition with Steemit could show future prosperity for both freelancers and content producers.

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