There is a new social media site where you can post articles and photo's called steemit.com and you can make a good amount of money on it.
@ Brie, Hi and is Steemit.com legit? Your photo (you being so very attractive. Honest.) was you posting the line where you said you made a GOOD amount of money. I plan on checking this site.
Looks pretty interesting, but I don't fully understand it yet; I went and checked it out. Almost my bed time, might have to look more into it in the morning.
I just took a quick peek.. skeptical is the vibe I get.
@Brie, I cannot wait 'til Wednesday for this will be something
for me to look forward to: Steemit.com and thanks for the
Thanks for the info. Let us know when you get paid.
Brie, how much of that income is money you can convert to real dollars now?
It's still in it's early stages so it's going to want to attract people by being generous.. Worth giving it a try. Thanks Brie hope to check it out.
Brie, what exactly did you have to do to make money?
I looked at the site briefly. Ended up on the page that shows Trending posts. The posts I see featured there show possible payout in the thousands of dollars in a week or less than a week's time. This can't possibly be real money. Also, some of those amounts are crossed out and it says Payout Declined. Something just doesn't add up here... And the site is in Beta stage, so definitely new. Hope they are not like Bubblews... Is there even an FAQ page to find out exactly how the site works, etc. I couldn't find it.
I can't speak for the veracity of the earnings. What's more important is that those articles indicate the kind of people who are members, and why they are members.
If the majority of members was genuinely there to be social and share knowledge, then the front page would be far more balanced and varied. Instead, it's dominated by stories about how to earn money. That suggests earning money from Steemit is the main interest of most members. If that's the case then those members will stay only so long as the payouts continue at a high level. The same pattern applied at Bubblews, if you recall.
These are people who have thousands of followers. I just started so I have only made about $50.00 dollars.
If it's paying out such big money, then it's just another Bubblews. NO startup site can possibly earn anything close to that amount in reality.
What they're doing is what Bubblews did: paying writers high amounts to attract them to the site to start with, then they THINK they can cut back when they've got a good number of writers and a good number of articles. Clearly, they didn't study Bubblews before they decided to go down that track. It never works. They will spend all their startup money in the launch phase, then realise the advertising revenue is so low, they have no chance of ever recouping what they've spent. Then they'll stop paying writers what they're owed and eventually they'll close down, possibly with no warning.
It's happened before several times.
It's probably worth jumping on the bandwagon at this point - just be prepared for them to go broke in the not too distance future, like Bubblews.
I think it's on a different level than Bubblews. They use crypto-currency and I think the people who run it have some experience in the field, some reviews indicate it's legit. But I'm still wary. Trying to juggle the crypto-currency and exchange, it's off my radar.
It's definitely the same model as Bubblews, an "incentivized social media platform". In other words, it markets itself as an alternative to Facebook where you can actually get paid for posting. Like Bubblews, you don't get paid for posting, you get paid according to votes from other users.
That means there's a strong incentive for game-playing between members (I'll vote for you if you vote for me). Which, like Bubblews, means it's at risk of getting flooded with people gaming the system by writing rubbish and making deals. Because payout rates are so high, it would be worth setting up quite sophisticated systems to create fake "Likes" (as there are on Facebook), so it could be worse than Bubblews, in fact!
HOWEVER, the fact that it's not paying in real money may be the thing that allows it to survive.They're not shelling out real dollars to their writers, so they're not running themselves into debt like Bubblews did. What's concerning is that the value of that currency is falling - it was about 24c at launch, went as high as $4, and is now more or less back where it started.
The bottom line for writers, IMO, is that it's always worth jumping on these bandwagons when they start rolling - you could make some quick, easy money before it runs out of steam.
I do notice, though, that a large chunk of the money is paid in Steem Power units, which you can't cash out for two years - in other words, potentially worthless if the business crashes, since the currency is exclusive to them. I'm also concerned about this quote from an article about the site:
"Upon first glance of Steemit, I noticed the profiles that were earning money were typically earning thousands, and often had post after post with hundreds of dollars of tallied revenue on hand, while other accounts had nearly as many if not more posts of the same quality, yet they had almost no revenue at all. One has to wonder if some of these profiles are merely sock puppet accounts formed to create the illusion of easy money. It all just sounds way too good to be true."
from https://medium.com/strategic-social-new … ceb1064f1a
Yes, I understand they also pay for upvotes, etc. but definitely a very different site. These are experienced techie guys that are into crypto-currency. And they do the block-chaining thing, which is definitely more sophisticated than Bubblews. Also, people need to stop construing every site like this as if it's a writing site. It's more of a social media site, you get paid if someone upvotes an article you share that's not yours. So this has nothing to do with SEO, etc .
Not disputing that - but remember, Bubblews was a social networking site too. It never claimed to be a writing site, it was always "an alternative to Facebook". That's why the payment was for members voting for each other.
This company appears to be using the same methodology - paying members very generously for their efforts at the start, in the belief that once members join the site, they will stay because they like the community.
In theory that should work, because people stay on Facebook or Reddit because they like the community. However, the difference is that people's motives for joining Facebook and Reddit are purely social, which means their needs are met and continue to be met in the long term. People motive for joining Bubblews was to make money. When that money dried up, a tiny kernel of people had made connections and wanted to stay for the community - but the vast majority abandoned the site because their needs were no longer being met.
If Steemit can continue to pay out at its current inflated rates, it will retain users and continue to grow - but if it cuts back at some point, there is every reason to believe that its users will react the way Bubblews users reacted. If they're there to earn money and the money dries up, there is no reason for them to stay. What we don't know is whether the use of crypto-currency means Steemit could sustain those high payout levels in the long term (unlike a site paying in real money).
Doesn't seem like Bubblews to me, the more I read about it: https://www.forbes.com/sites/rogeraitke … 2750707dd5
I just don't think it can be judged from the perspective of another Bubblews.
That article demonstrates that the people running it are far more savvy than the idiots who ran Bubblews. It doesn't change the fact that the model is exactly the same (incentivized social network), with the sole difference being that they are not using real money.
The fact that the founders are more professional in their approach, and that they don't have to chew up their startup money paying users for votes, may make all the difference and enable them to make a success of it. But it would be naive to ignore the parallels.
It would be more honest for everyone to say it's over their heads and so they're not going for it, which is exactly what I already said; but to continue to pontificate and speculate is just absurd. Especially without any real grasp of what the site is or how it operates.
It's definitely interesting and bears watching. I did follow your links on the blockchain stuff and sought out some more info. I'm sure I will sign eventually to see what the fuss is about. It just makes no sense for someone having good success here to just jump in full throttle, that was more my point.
IMO, if you're interested, I wouldn't sit back and watch. I'd dive right in while the going's good. Writers who joined sites like Today, MyLot, Bubblews etc early, made a lot of money. Once the hordes of spammers joined, earnings dropped dramatically.
Approach it with the view that it's short-term earnings. If it pays off on that level, then you won't care if it collapses later. If it does last for the long term, it's a bonus.
Also I don't think it matters whether you're doing well here or not. One, a bit of short-term cash never hurts. Two, it's never, ever a good idea to put all your eggs in one basket on the internet.
Marisa, check out the last section where ''Criticism'' is sited.
Thanks for that link, very interesting. Actually I'm still ploughing my way through the comments, they are just as interesting as the article!
http://www.coindesk.com/steem-provokes- … observers/
One in particular caught my eye: a Steemit user pointing out that you don't need to write anything at all to make money, because you also get paid to read and comment and vote.
What's wrong Nate. You seem to be getting your feathers ruffled over this.
True Nate, I don't trust a word I read on Wikipedia. Jesse was really referring me to a link on Wikipedia to an article on another site (I posted the link). The article itself is critical but vague - however the comments are really illuminating.
I never said it was a writing site..it is more like facebook than anything else.
I see you adamantly pushing your opinion on the matter. I created an account to see for myself. I only spent a few minutes looking into it. I couldn't find where it said anything about waiting 2 years for payment other than the article you posted. A quoted section from their site:
"The blockchain distributes payouts as 50% Steem Power for voting and 50% Steem Dollars. Rewards are distributed by the blockchain, similar to how miners are paid by Bitcoin, and occur roughly 24 hours after content and votes have been submitted."
It looks like the payment platform is based on cryptocurrency. I saw you said that you did not understand the crypto process. I definitely wouldn't promote bitcoin. Cryptocurrency is "mined" by entering strings of data into a hashing algorithm when you find an available string you can add it to your chain and build it towards a full bitcoin.
What better way to mine new strings and hashes than having users enter new strings for you to hash? A full bitcoin is still worth quite a bit.
There is a problem with this current business model, the users are trading off their shares way under market value. Probably spammers just wanting to get paid.
You are right, jrk1121, I know how the crypto process works in theory but I don't understand all the ins and outs. However IMO that's not entirely relevant.
The crypto currency is the method of payment. I'm sure you'd agree that when writers debate the merits of a writing site like HubPages, or Infobarrel, or a social network like TSU or Bubblews, the method of payment is generally not discussed at all. It's the amount people care about. So that's my main focus when I'm looking at Steemit. If you look at it like that, it's a straight copy of Bubblews.
However, what you're saying is that the crypto currency is also how the site generates its revenue - in other words, it's the content provided by users that is (in effect) used to create the currency, right? If that's so, then I can see how it could possibly be self-sustaining - though it's a depressing thought. At least Google will ignore it, since it will be so full of dross - people vomiting out garbage posts and then voting up each other's rubbish without reading it, an endless game just to create fodder for the currency.
Here's the explanation of the 2 years:
https://steemit.com/steemit/@mindover/s … et-started
You wouldn't support bitcoin?? If you had bought bitcoin when it first came out you would be a millionaire now. Bitcoin is the bomb!
The FAQ on that site is about as clear as a Chinese road map. All I could make out was some gibberish about Steem Dollars and bitcoins, and that if you deactivate your account all your posts stay in their "blockchain," whatever that is.
...soooo yeah, I think I'll pass.
I've never manage to work out how to own or use bitcoins. That is one area where I remain a dunce.
Bitcoins and other cryptocurrencies are highly associated with hackers! Running!
Hate to reprise line from Cuba Goodin, Jr., but "show me the money," in terms about Steemit.com when it comes to REAL cash.
You have to have a digital currency account and once you do decide to cash out..you cash out in digital and then from there you can cash out in dollars or pesos or whatever..it's the future man!
Can you trade out immediately, Brie? For instance, that $36.00 that you made on the photo, when can you actually turn that into money?
I don't know because I haven't bothered to do so yet. I am just letting it ride until it adds up to something substantial. There is definitely a learning curve here. To be honest if my son hadn't helped me with the whole digital currency thing I would never have figured it out. However, having said that, I do think this is the future of money so we all better start paying attention.
Crypto currency is over my head. The underlying model is not, it's crystal clear and nothing new. It's just easy to get distracted by the complex financial structure.
Did you notice how many of the top posts on the front page are about Steemit itself? That indicates the priorities and interests of the members IMO.
Again, not saying people shouldn't try it. We may all be surprised. However it's important to be aware of the potential downside.
I believe it's traded daily live as currency as well? It is definitely wild stuff.
“I’m thinking we throw a load of buzzwords into an investor launch and make some real money” said the CEO. “We need a new hipster style name that sums up the now, the buzz, the…”
“Steam?” said a guru. “Steampunk is something the investors will have heard of – they will associate it with young people with too much money and mobile phones. But spell it wrong to look cool”.
“Ok. We got steem. We got bitcoin technology. We got incentivized social media. Now all we got to do is organize a launch party”.
Roll forward a while. Send out invites to investors. Hire some pretty girls. A lunch, a launch, a presentation. Trim your beard and send a puff piece to the Forbes advertising bureau.
Make your pitch. Bitcoin, hipsters, social media, money. Invest now in the chance of the next Twitter, Facebook, TSU. Oh yeah. Not TSU – don’t mention that one.
On one side of the coin are the grasping content writers. The creators who seek dollars instead of their usual pennies. They are easy to hook in. All you need is to dangle spam carrots and watch those sign-up figures soar.
Then you show the sign-up stats to the investors. Talk about blockchains and sound like you know what it means. Talk about downstream, upstream. Talk about growth and hint at the next Facebook. Count the money as it comes in.
Grasping content writers. Grasping investors. And in the middle a couple of smart people with an idea.
The company might even take off. They might succeed and make a fortune. They might be the one in one hundred thousand that actually delivers.
But if they are really smart they have a plan to take money as it fails. Fat salaries, share of profits from invested income, dividends from the meteoric rise before the familiar crash and burn.
Good night steemit. It was fun while it lasted. See you at the next launch. Dreemit – where disruptive technology meets a Valium blockchain. Yeah I made it up. Buy stocks now.
for sure, lets get some good ol American competition in the mix. If they can get you to write for free, then why pay ya?
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