Steemit has revolutionized Social media, here's why Facebook and Twitter will eventually come into conflict with it.
Hey guys, today i'm writing an article on how Steemit has revolutionized the social media platform and why Facebook and Twitter will inevitably come into conflict with it.
Steemit is revolutionary in it's approach to social media, being backed by a crypto currency is one thing, but actually paying users for valuable content? that's new territory in the social media world, steemit is enabling people to be paid for their valuable time and quality content that generators buzz within and from outside the site.
It is, in it's purest form, free market capitalism, if you have something the market(Users) want they will pay you for it and how much they pay you is entirely up to them, this is a model that can't be co-opted or bastardized without severely hurting their product model, i.e if they decided you can only purchase things on the site with steem and couldn't turn it into currency.
I'm personally thankful for steemit as it's giving me a way to create an income for myself without employers or middleman taking credit and money from myself and redistributing it to themselves, also as someone who suffers from chronic insomnia working 9-5 isn't a possibility for me, so the fact that i can work when i want, for who i want is something that resonates with a lot of people.
In a few short weeks iv'e gained a small following and been paid more for things i would of given away for free on Facebook, it's also enabled me to get my productive and creative juices flowing and to engage with people in great conversations without being flooded with the usual rabble that facebook and twitter brings.
But there is a catch.
Eventually Steemit's popularity will reach the mainstream, "free" money is something you just can't argue against, however Facebook and Twitter will try, why? because they have been riding the coat tails of content creators for years now, word of mouth is a powerful marketing tool, arguably the best there is, and when content creators begin to flock to new platforms they will try whatever they can to keep them there or ruin the new experience that is taking business from them.
Given how horrendous Facebook is quickly becoming with censorship, stealing or denying monetization for content, banning or deleting things that go against their ideology, ships are starting to leave the port and not coming back, I personally have had around 12 friends come to Steemit simply because of what it offers, something that neither Facebook or Twitter could offer.
This will indelibly leave a sour taste in the mouth of these companies who for so long have robbed the people who use their product and who have literally made 100's of millions of dollars from them while never giving a cent back, for example.
I once made a post about the 2016 election that went viral, over 20 thousand likes and 10 thousand shares, I received absolutely nothing for that, but I can guarantee Facebook made some money off it with the ads everyone had to see whenever they clicked the post.
Translate that to a viral post on steemit of 20 thousand upvotes and 10 thousand resteems, and i could probably retire tomorrow.
Backed by Cryptos
This is also what drew me to the site and will draw others, is that this site is inherently a form of cryptocurrency production, you can't fight this business model it's too well executed just think what other platform allows you to make money but actively rewards you for keeping money in as well as taking money out?
With steem power it encourages people to leave their money in steemit to make more money from their posts, which ensures that whales don't arbitrarily leave the market, i mean if someone offered you to play a game where there was a 100% chance you win all the time, and every time you win you get extra money who could say no?
This alone is a winning business model in of itself, coupled with the fact that the site produces quality content, you actively want to stay here and help the the site, as helping the site helps you as well, the more people that succeed the more you do and the better the content of the site the more users it generates which again, increases your own value!
Tying all of this together has made an amazing platform, so eventually there will be imitations and jealous, eventually Facebook will see what this site is doing(they're already flagging steemit links as "spam") and after a few years will realize that they simply can't compete with us.
Fun time ahead steemians!
Thank you for taking the time to read this article, if you have enjoyed it feel free to resteem, upvote or comment below with questions or criticisms
I've been playing with the whole "free money" concepts and can see some downsides as far as the platform is concerned... People with no investment getting benefits. The money for the rewards pool has to come from somewhere. I was thinking that a one-time $10.00 fee to join (that would go into the reward pool) to help bolster the platform and keep it going.
Ideally that would be a good idea, however i fear it would actually mitigate a lot of followers from coming here, i'll admit even though I have $10, if there had of been an entry fee to begin with i probably wouldn't of signed up people are very hestitant of scams and even if you and I both know how great steemit is, first time users could be driven away from it.
Ideally what i would like to see is maybe a week trial and to get the money you made you have to pay a one time admission fee, that way people can get a feel for the site before committing to something is unknown and risky to them.
I wouldn't have had $5.00 to join. You wouldn't have to collect it all at once- you could put a 3 month limit... pay us when you're up & running. Something like that. I've been here since Thanksgiving and I'd be happy to kick in $10 to help out the platform. The people who came in with investments, of course, would be exempt- they're the ones that make the platform work.
Well i mean we still can, iv'e traded about $30 into steem power from my own crypto currency wallets so it's very doable, i think it just general exposure to the site that helps overall, i remember i posted steemit in a politics group i'm a part of on Facebook and the admins immediately deleted it cause they thought it was a scam.
Now add a $10 fee on top of that and they're going to think it is REALLY a scam haha, but we'll see man the website is starting to get more popularity every day who knows what the next month holds.
It's not the popularity. If all these new people come in broke, it drains the rewards pool and doesn't add anything.
Hmm i see your point, but i think ultimately it balances itself out some people make one post and leave when they don't get $200 a post i think this really is a waiting game to see if the site produces enough whales, for example i'm a minnow but i haven't taken a cent out yet and don't plan to for a long time.
People who are serious about the platform will stick around for a lot longer and ultimately contribute more to the site even with the recent influx of people coming on board, but you could be right we just have to wait sadly.
Every single content producer and curator could come in completely broke and it would not destroy the system. All that matters is that people are willing to buy Steem on the open market, thats where the money comes from (in addition to people buying SBD and SP). Cryptos are not having much difficulty retaining value, and Steem because its attached to a specific innovation will continue to grab a ton of the crypto investment dollars constantly flowing in.
Steemit is a great site but it is hard to be successfull when you don't have much power..I post really good contents, but ıf a whale doesn't vote and support, it doesn't mean much.
That's true, but that comes with time on the site, the earlier you sign on the more likely your fellow minnows are to "Grow up" with you , it's not easy but nothing good in life is easy :P
Just gotta stick with it i believe. If the system continues to grow, it'll be less about whales....and if you're consistent in curating and adding new content, eventually you get there.....not that I'm there or anything, im super new! But i can see how it'll be possible....
All about perseverance my dude
Do you think the traditional social media companies might have a go at paying their users in one way or another to compete? Like you say, they can't be happy to see so many people leaving.
I mean, they could but i don't see how they're going to do it without a crypto currency, remember facebook has over a billion followers, even at 1 cent each, that's a lot of god damn money
For sure, I agree! Its the same pickle cryptos have the banks in. They can't afford to adopt it cause it wouldn't make sense for their business, but they also can't compete with it because they're obsolete.