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steevc

Steem earning potential and initial thoughts

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I've been on steemit for a couple of days. So far I've done six posts and earned a couple of cents. I'm still trying to understand how it works. I don't think you earn from views as they do not have ads apart from on the search page. You earn when people up-vote your posts and that may depend on how much of the currency those people hold. The big players are known as 'whales'. Some posts are apparently worth thousands, but I don't think you can take all that out. They have 3 different types of currency and with the main one you can only take it out spread over 2 years. I understand this is to stop people speculating as they cannot predict what it will be worth when they actually get it. You can transfer amounts to other users, something like Tsu. So there could be a form of market.

 

Note that comments have a value as well as posts. You earn if your comments are voted up. You can also vote down (by flagging). That reduces the reputation of an account. They allow people to write 'bots' and some of these are annoying. Comments from low reputation users are initially hidden. Would have been good to have that on Tsu. They talked about having reputation scores.

 

There's also the possibility to 'mine' steem as people do with Bitcoin. They discourage mining pools and botnets by requiring that each PC has the private key of the account. So you would risk someone taking your money if it was on multiple computers. I've not tried this yet. I did transfer in a small amount of Bitcoin to boost my bank a little. 

 

The steem software is open source so people could contribute to it. There are also ways to access the data so people have created sites to show more stats and things like a notification extension for Chrome.

 

Posts are seen by Google, but then I think they need to be as they use it for internal search.

 

So my thoughts are that you wouldn't go here for a quick buck, but if you are into blogging and the technology then it's an interesting experiment to be part of.

 

You can find me at https://steemit.com/@steevc


I'm mainly on Steemit. Check out WowApp for messaging that pays.

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