Steemit.com: Blogging is the new Mining

[kuperis]

for me looks like another scam

deposit coins and withdraw just after two years?

after two years this blogging projects could dont exist anymore

[1715278904]

1715278904

[q327K091]

for me looks like another scam

deposit coins and withdraw just after two years?

after two years this blogging projects could dont exist anymore

you opinion, my opinion is and based on the source code itself and constant activity therein, a very innovative project

world is a wonderful place because we are all so different in it  

[smooth]

after two years this blogging projects could dont exist anymore

Could not agree more. Locking up value that long is high risk. Potentially high return, but no doubt whatsoever about high risk.

You could always try it out with a free account though. No risk there, other than maybe wasting a bit of your time.

[favdesu]

after two years this blogging projects could dont exist anymore

Could not agree more. Locking up value that long is high risk. Potentially high return, but no doubt whatsoever about high risk.

You could always try it out with a free account though. No risk there, other than maybe wasting a bit of your time.

that's what I did. I bought like 200 steem to vest and see where it goes.

[pharesim]

Steem has its first dice game
Gamble without transaction fees!
GUI will follow soon

[kuperis]

im really cant understand, how user gets rewarded..something looks rigged
im have account and still trying but almost lost patience, because :

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

wth?

or just some whales with multiple accounts voting for their posts and how its get rewarded...
so ir nothing else them pump and dump, where miners dumping and someine trying to buy steem power  or somthing like that.

o was planning to put in 0.5 btc and give a try, bur now see no point... and with locked fund s for two years..is insane

[favdesu]

im really cant understand, how user gets rewarded..something looks rigged
im have account and still trying but almost lost patience, because :

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

wth?

or just some whales with multiple accounts voting for their posts and how its get rewarded...
so ir nothing else them pump and dump, where miners dumping and someine trying to buy steem power  or somthing like that.

o was planning to put in 0.5 btc and give a try, bur now see no point... and with locked fund s for two years..is insane

read the whitepaper, maybe?

[kuperis]

read. but simple and brief explanation is could be more clearly understandible
coz now, for me that steemit looks like whales playground... they fishing newcomers who is buying theirs BS steem.

[damashup]

read. but simple and brief explanation is could be more clearly understandible
coz now, for me that steemit looks like whales playground... they fishing newcomers who is buying theirs BS steem.

try this:
https://steemit.com/steemit/@cryptogee/welcome-to-steem--introduce-yourselves

[kuperis]

but anyway coin has no investment value (yes, i read whitepaper )
if someone is mining they have dump immediately, coz they loosing fast  as zimbabwe's dollars

[smooth]

but anyway coin has no investment value (yes, i read whitepaper )
if someone is mining they have dump immediately, coz they loosing fast  as zimbabwe's dollars

This is wrong twice.

First of all, miners can't dump. The mined coins (Steem Power) are locked for up to 2 years.

Second, Steem Power doesn't suffer the same high inflation as unlocked coins (Steem).

Nevertheless everyone should make up their own mind about mining and/or investment value. It may be a bad idea after all.

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

Voting is stake-weighted (aka Steem Power). If you have hardly any stake then your votes aren't worth much. If you want more influence then you have to buy (or later earn) Steem Power.

Right now this means voting is dominated by whales. But that will change rapidly starting July 4 when the rewards start paying out. People who post or comment and get a lot of upvotes will then receive large payouts in Steem Power, regardless of their existing stake and without having to buy it. They will then start having a major influence in voting.

The idea is to automatically redistribute voting power out to the most productive and respected participants. Once there are a lot more people with big chunks of Steem Power than you won't be reliant on a small number of whales to get good upvotes; there will be many others who can do so as well.

[pharesim]

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

Do you have a link to a post of yours? I can't imagine that 3 good posts got overlooked by all the curators.
If it happened it certainly wasn't on purpose. Just look around how many posts of new users received a lot of high-stake votes.

[favdesu]

but anyway coin has no investment value (yes, i read whitepaper )
if someone is mining they have dump immediately, coz they loosing fast  as zimbabwe's dollars

This is wrong twice.

First of all, miners can't dump. The mined coins (Steem Power) are locked for up to 2 years.

Second, Steem Power doesn't suffer the same high inflation as unlocked coins (Steem).

Nevertheless everyone should make up their own mind about mining and/or investment value. It may be a bad idea after all.

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

Voting is stake-weighted (aka Steem Power). If you have hardly any stake then your votes aren't worth much. If you want more influence then you have to buy (or later earn) Steem Power.

Right now this means voting is dominated by whales. But that will change rapidly starting July 4 when the rewards start paying out. People who post or comment and get a lot of upvotes will then receive large payouts in Steem Power, regardless of their existing stake and without having to buy it. They will then start having a major influence in voting.

The idea is to automatically redistribute voting power out to the most productive and respected participants. Once there are a lot more people with big chunks of Steem Power than you won't be reliant on a small number of whales to get good upvotes; there will be many others who can do so as well.

what makes you think that there will be "large" payouts?

[smooth]

but anyway coin has no investment value (yes, i read whitepaper )
if someone is mining they have dump immediately, coz they loosing fast  as zimbabwe's dollars

This is wrong twice.

First of all, miners can't dump. The mined coins (Steem Power) are locked for up to 2 years.

Second, Steem Power doesn't suffer the same high inflation as unlocked coins (Steem).

Nevertheless everyone should make up their own mind about mining and/or investment value. It may be a bad idea after all.

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

Voting is stake-weighted (aka Steem Power). If you have hardly any stake then your votes aren't worth much. If you want more influence then you have to buy (or later earn) Steem Power.

Right now this means voting is dominated by whales. But that will change rapidly starting July 4 when the rewards start paying out. People who post or comment and get a lot of upvotes will then receive large payouts in Steem Power, regardless of their existing stake and without having to buy it. They will then start having a major influence in voting.

The idea is to automatically redistribute voting power out to the most productive and respected participants. Once there are a lot more people with big chunks of Steem Power than you won't be reliant on a small number of whales to get good upvotes; there will be many others who can do so as well.

what makes you think that there will be "large" payouts?

There have been some reports posted, with many people receiving thousands of Steem Power and some much more than that. If I have time later I will post links.

Any time you look on the site and see a dollar figure (and it isn't hard to find hundreds or thousands of dollars on a post), half of the amount paid will be in Steem Power (half to the author, half to voters). So a post or comment with a displayed reward of $2000 will pay out $500 worth of Steem Power (about 1500 SP currently) plus $500 in Steem Dollars to the author. And that is for one post. The payouts on July 4 will be the total of everything posted since the site went live beta. After July 4, payouts using the same methods will continue daily.

More broadly, every day 28800 Steem Power are allocated to be paid out for content. Most likely there will be multiple people receiving thousands of Steem Power every day for the most popular posts and comments, although how exactly it gets divided up depends on voting.

Of course, it is still in beta, problems may occur, calculations may be wrong, values may change based on market prices and usage, all crypto is experimental, nothing is guaranteed, etc., etc.

[q327K091]

this could be base for a better (and secure) base for a social media platform in the future , imagine if this also gets viral in the publishing world and content also tied to advertising , this is all uncharted territory

Steem developers (founders) should apply for a patent to protect their IP .. it is very novel

[kuperis]

they going to have competition... akasha , what about that ?

[chryspano]

they going to have competition... akasha , what about that ?

https://steemit.com/steem/@au1nethyb1/ethereum-co-founder-launches-steemit-competitor--akasha

[pharesim]

they going to have competition... akasha , what about that ?

Two main differences:
- transaction fees
- reward generation

Akasha running on ETH means that users will have to pay. Posting, voting, every transaction with the blockchain costs a fee. Rewards will have to be sent from user to user.

Steem is free to participate for everyone, no investment needed, no cost to use the platform. Would you use Facebook if they charged you?

[kuperis]

they going to have competition... akasha , what about that ?

Two main differences:
- transaction fees
- reward generation

Akasha running on ETH means that users will have to pay. Posting, voting, every transaction with the blockchain costs a fee. Rewards will have to be sent from user to user.

Steem is free to participate for everyone, no investment needed, no cost to use the platform. Would you use Facebook if they charged you?

+

[smooth]

but anyway coin has no investment value (yes, i read whitepaper )
if someone is mining they have dump immediately, coz they loosing fast  as zimbabwe's dollars

This is wrong twice.

First of all, miners can't dump. The mined coins (Steem Power) are locked for up to 2 years.

Second, Steem Power doesn't suffer the same high inflation as unlocked coins (Steem).

Nevertheless everyone should make up their own mind about mining and/or investment value. It may be a bad idea after all.

o post 3posts in 3days and result, for example 1 post created 3days ago has 5votes, earned 0.01$ (pending payout)
and just looked in "created" one post created 6mins ago and have 5votes and 303$ (pending payout)

Voting is stake-weighted (aka Steem Power). If you have hardly any stake then your votes aren't worth much. If you want more influence then you have to buy (or later earn) Steem Power.

Right now this means voting is dominated by whales. But that will change rapidly starting July 4 when the rewards start paying out. People who post or comment and get a lot of upvotes will then receive large payouts in Steem Power, regardless of their existing stake and without having to buy it. They will then start having a major influence in voting.

The idea is to automatically redistribute voting power out to the most productive and respected participants. Once there are a lot more people with big chunks of Steem Power than you won't be reliant on a small number of whales to get good upvotes; there will be many others who can do so as well.

what makes you think that there will be "large" payouts?

Here is a post with statistics. It is a week old and in the past week new user signups and posts have really taken off.

https://steemit.com/steem/@dantheman/current-payout-distributions

An equal amount of Steem Power will be distributed to posters along with the Steem Dollars. Of the people on the leaderboard, only @dantheman and @dan are steemit insiders (both are accounts of Dan Larimier, the CTO and lead dev). The rest are community members.

    $434,000 Steem Dollars would be created
    444 accounts would receive some Steem Dollars
    Average payout would be $977
    Median Payout would be $95
    10 accounts would receive more than $10,000
    89 accounts would receive more than $1000
    290 accounts would receive more than $10
    350 accounts would receive at least $1

Leader Board

    @blocktrades $17,463
    @nextgencrypto $16,450
    @services $16,120.97
    @cryptoctopus $14183
    @dantheman $12,288
    @dan $11,303
    @tuck-fheman $10,871
    @rollin $10,789