Steemit Is a Social Network That Pays You For Your Posts In Cryptocurrency (wired.com) 54
New submitter mirandakatz writes: Our relationships with most social media are sneakily transactional: We log onto Facebook or Instagram and wind up paying the platforms with our attention and ad clicks. A new social network aims to turn that on its head by paying users for their posts. Steemit runs on Steem, a cryptocurrency that currently has a market cap of $294 million -- and users have made more than $1.2 million in American dollars on the network. At Backchannel, Andrew McMillen takes a deep dive into Steemit, writing that 'By removing the middlemen and allowing users to profit directly from the networks they participate in, Steemit could provide a roadmap to a more equitable social network...Or users could get bored or distracted by something newer and shinier and abandon it. Fortunes could vanish at any moment, but someone stands to get rich in the process.'
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So should slashdot, reddit, hacker news. And nightclub owners should pay hot chicks that drum up their business. But capitalists are greedy so ...
Aha. Yeah, I wonder why there aren't any economically illiterate, perpetually lazy, whiny little bitch Marxist business owners that see things your way...
Re: Facebook should pay too (Score:1)
You act like shills don't exist. There are certainly sites that pay people to post. There are also clubs who employ hot chicks to hang out in them.
It's like you were born yesterday.
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But if Facebook already has a product that requires no cost, why would they pay them? Facebook gets their product for free, other than the engineering work they do, they have no reason to spend money to get the product at this point.
This Steemit, on the other hand, is something else entirely. It renders completely moot the question of wondering who the attention seekers are, versus who are just the paid shills. Now you know it's everybody! Everybody is seeking attention, and they're all paid. When ther
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This implies Steemit becomes a meritrocracy. What opens is the Pandora's box of bidding for the highest producing posts. That system works for a while until someone comes by with deeper pockets to capture marketshare. The value of its currency then drops down, and supply/demand makes it more difficult, until the market burns itself out for want of customers.
It's intriguing but it's a zero-sum game, ultimately.
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This Steemit, on the other hand, is something else entirely. It renders completely moot the question of wondering who the attention seekers are, versus who are just the paid shills. Now you know it's everybody!
But can Steemit really pay more for posts than Monsanto, the company that pays for every post we disagree with?
Good idea (Score:2)
Steamy is a Social Network That Pays You For Your Porn In Cryptocurrency.
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I think you've almost struck on something there - imagine paying quality posters with credits for porn services!
Hey Slashdot (Score:4, Funny)
How much will you pay me not to post?
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Per post.
Worthless money for worthless content (Score:2)
Now you're talking value!!
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I hear this complaint about Reddit, but I don't really see it much.
The only place I see it is in a sub for my own local city. My city is admittedly very, very liberal, but this sub is overrun with bike advocates and antifa supporters. I've been downvoted into oblivion for having normal sentiments any property owner would have (like objecting to homeless people camping and peeing nearby), but nobody has banned me for it.
Most of the subs I visit, though, have very little political content. Usually you get
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My only suggestion would be that the threshold for posts "disappearing" should be higher -- maybe -20 or something, or some obvious way to restore them for users who want to see them or some kind of threaded sort that ignores votes.
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I didn't know slashdot was running a competition to create a new slogan[1], but you won!
[1] Or whatever "News for nerds, stuff that matters" was. It's been so long since my media studies M.A. ...
Valve will sue (Score:2)
Steemit runs on Steem, a cryptocurrency that currently has a market cap of $294 million
Can you buy PC games on Steam with Steem?
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Valve might have a case to sue. My initial thought at first glance was that this was a "Steam" social network. That's all it takes to sue is a chance a customer might confuse the companies. It isn't too far beyond what Steam already does to think they might attempt something like this. I think some people might get confused by the names... absolutely a case to sue.
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.. Since when is Valve involved in cryptocurrency and social networking?
In a useful and effective way, that is. Most people's "Community" page is as blank as my own.
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Dumbass, the forum (next to the BBS) was one of THE original forms of a social network.
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.. Since when is Valve involved in cryptocurrency and social networking?
In a useful and effective way, that is. Most people's "Community" page is as blank as my own.
Cryptocurrency maybe not yet; but they're already a social network. Not everyone uses them as one, but they are very much setup as one. Incorporating cryptocurrency isn't a far stretch. Especially since they're already handling money and have their own form of currency in the form of "badges" and "Stickers" already. (obviously not the same thing- but they've been dabbling in the speculating with those things for a while).
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And after they pay you ...? (Score:2)
And after they pay you for your information, is it theirs to do whatever they want? Seems like it should be so, since they just bought it from you.
Am I missing something? (Score:2)
The Future (Score:1)