Steemit.com - How does one actually monetize their content on the site?

[dothebeats]

So I stumbled upon a social media platform which rewards its users with something if people "up voted" your content. It can be about anything, as I've skimmed too many posts already on-site. However, I still don't get how people are actually monetizing their content just by socializing and up voting topics that interests them. There are monetary figures—expressed in $—below the post's thumbnail. I don't know if that corresponds to the amount the post generated because of up votes. I'm really confused.

For someone who already made something for posting there, how are you guys paid? Or how does the system actually work? I'm genuinely interested on starting right now to hone my writing skills and possibly getting something out of my articles.

[seedtrue]

--snip

For someone who already made something for posting there, how are you guys paid? Or how does the system actually work? I'm genuinely interested on starting right now to hone my writing skills and possibly getting something out of my articles.

When your post earns, you are paid-out 12-24 hours after post. The people that have up-voted it get a cut(20-30%(i do not remember exact percent) off the top) and the remaining amount is split up and "sent" to your wallet. 50% you are able to cash-out immediately in the form of SBD(STEEM Backed Dollars), SBD can be transferred to Poloniex, or Bittrex and traded for bitcoin immediately. The other 50% goes into your "Steem Power". Steem Power can be cashed out over 2 years of weekly payments. Having a high amount of Steem Power is what causes peoples "up-votes" to be worth more than others. New accounts that barely have any Steem Power, cannot even up-vote $0.01 value on a new post.


edit: here is a link to the main thread. https://bitcointalk.org/index.php?topic=1466593.0

[dothebeats]

-snip-

Looks interesting enough to get my hands dirty. The awesome thing I found about this site is they promote content creation and the community encourages others to write and write (and helps one another by exchanging upvotes) until they reach their target audience. All in all, a great site for sharing knowledge/ideas and earning at the same time.

Thanks for answering my queries. I'll leave this thread open for those people who also have questions to ask.

edit: misused the quote tag.

[ajareselde]

--snip

For someone who already made something for posting there, how are you guys paid? Or how does the system actually work? I'm genuinely interested on starting right now to hone my writing skills and possibly getting something out of my articles.

When your post earns, you are paid-out 12-24 hours after post. The people that have up-voted it get a cut(20-30%(i do not remember exact percent) off the top) and the remaining amount is split up and "sent" to your wallet. 50% you are able to cash-out immediately in the form of SBD(STEEM Backed Dollars), SBD can be transferred to Poloniex, or Bittrex and traded for bitcoin immediately. The other 50% goes into your "Steem Power". Steem Power can be cashed out over 2 years of weekly payments. Having a high amount of Steem Power is what causes peoples "up-votes" to be worth more than others. New accounts that barely have any Steem Power, cannot even up-vote $0.01 value on a new post.


edit: here is a link to the main thread. https://bitcointalk.org/index.php?topic=1466593.0

This would be pretty more interesting if there wasnt for that insane 2 year long weekly payout period, makes you question the very structure of payment they have.
It's definitely an interesting project, but i wouldn't keep my breath on expecting it to be one of the new most popular platforms, i don't see it as a likely turnout.

[seedtrue]

--snip

For someone who already made something for posting there, how are you guys paid? Or how does the system actually work? I'm genuinely interested on starting right now to hone my writing skills and possibly getting something out of my articles.

When your post earns, you are paid-out 12-24 hours after post. The people that have up-voted it get a cut(20-30%(i do not remember exact percent) off the top) and the remaining amount is split up and "sent" to your wallet. 50% you are able to cash-out immediately in the form of SBD(STEEM Backed Dollars), SBD can be transferred to Poloniex, or Bittrex and traded for bitcoin immediately. The other 50% goes into your "Steem Power". Steem Power can be cashed out over 2 years of weekly payments. Having a high amount of Steem Power is what causes peoples "up-votes" to be worth more than others. New accounts that barely have any Steem Power, cannot even up-vote $0.01 value on a new post.


edit: here is a link to the main thread. https://bitcointalk.org/index.php?topic=1466593.0

This would be pretty more interesting if there wasnt for that insane 2 year long weekly payout period, makes you question the very structure of payment they have.
It's definitely an interesting project, but i wouldn't keep my breath on expecting it to be one of the new most popular platforms, i don't see it as a likely turnout.

Yeah the 2-year thing throws some people off, but like I said, 50% is paid in SBD which is instantly transferable to exchanges. It has been said the logic behind Steem Power, and the 2-years of weekly payments(a little less than 1% each week), is to keep liquidity down. Also does not allow people to dump (as)huge amounts on the exchange.

[botany]

Yeah the 2-year thing throws some people off, but like I said, 50% is paid in SBD which is instantly transferable to exchanges. It has been said the logic behind Steem Power, and the 2-years of weekly payments(a little less than 1% each week), is to keep liquidity down. Also does not allow people to dump (as)huge amounts on the exchange.

Hmm... It may keep liquidity down for now, but hope it doesn't turn into a deluge at a later point.

[Herbert2020]

it used to work in the beginning when there were few people there and not thousands of spammers spamming for money. right now everybody is only there to make money, they post long articles and then spam the link all over the internet to get viewers and bring their topic on top. but these days even good posters will receive a couple of cents for their post.

[TastyChillySauce00]

it used to work in the beginning when there were few people there and not thousands of spammers spamming for money. right now everybody is only there to make money, they post long articles and then spam the link all over the internet to get viewers and bring their topic on top. but these days even good posters will receive a couple of cents for their post.

well that's true,even someone just massly copying some of article and just paste there,even this is such a useless effort,only interesting story would be success and gain many dollars, also a photo of woman in the article could give an additional point to be upvoted lol

[maydna]

so now will be more easier for people which want to get some money. just find some article, make it twist and make editing, add some word and there you go, you can get new article which is interesting for most people and post it into steem, waiting for vote, and hope that we can get much vote so we can get famous.

its like one social media in the past but i am sorry, i can not remember what is the name.

[jamalaezaz]

Basically Steem is an alternative crypto currency. and you can buy sell you can trade it like other altcoins .. and you can earn it for free by writing posts and getting upvotes in Steemit.com

Steemit is a great move of cryptocurrency industry and I first time seeing a social network like this.

[Ryan Dugan]

Basically Steem is an alternative crypto currency. and you can buy sell you can trade it like other altcoins .. and you can earn it for free by writing posts and getting upvotes in Steemit.com

Steemit is a great move of cryptocurrency industry and I first time seeing a social network like this.

So the amount of steem you have does not effect the earnings ? Or does it ? I know its like stocks but how does it monotonize ? Ads or some thing ? It's nice you earn a coin that is shares in the social media.

[Das]

Basically Steem is an alternative crypto currency. and you can buy sell you can trade it like other altcoins .. and you can earn it for free by writing posts and getting upvotes in Steemit.com

Steemit is a great move of cryptocurrency industry and I first time seeing a social network like this.

How do the developers generate money to pay content writers?