SteemIt Basics. How SteemIt works and why use it.

SteemIt leverages blockchain technology and free-market economics to produce a platform where every contribution, every blog, every vote, is valued and is given a part share in the platform itself. This counters the usual social media forums where the hosting company owns the platform entirely and uses your content to further its own growth without remittance.

How it works

The way the underlying cryptocurrency (Steems) are distributed are based on votes. The first person to like an article (usually the author) will gain the most reward, the second person to vote the quality content up will help contribute to payment for the article and from then on will ALSO be rewarded for having curated the new content. You are rewarded for reading in addition to writing! The more investment you have in the platform, the more your vote is worth, and your influence will increase over time.

What it does for you

The promotion and shared rewards for your content on SteemIt takes care of converting the value of your quality content into actual currency, and it does some of the marketing for you as well. You still own the content, but you profit from the content directly rather than it being merely a vehicle.

The blockchain technology is similar to that of Bitcoin, and the Steems can be converted into BitCoin on the open market if you wish, or you can keep them on SteemIt to have more influence over the content of this platform. It is like owning equity.

No risk

If you are worried about any associated risk, let’s consider the worst case scenario of using SteemIt. The worst case scenario here is that it becomes unprofitable, the money you earned early on later becomes worth nothing. But not receiving any reward for your content directly is what we all do on every major social platform. It also has the advantage of being a distributed network, so if one server disappears, there will still be hundreds more. Additionally, in the intermediate time you can withdraw some of your Steems for cash. Also, if for some reason it does turn out to fail as a technology, you can always copy your content to another service.

Conclusion

I think the embedded marketing, it’s just really more powerful than any other platform on the planet at the moment. This is why I will ask people who support me to join the platform to give me they’re up for it if they want to have pot in my business, in the equity I am trying to grow for myself. Furthermore, you can support other content creators by taking part in the equity generation!

For further information, there is no better source of information than the whitepaper
https://steem.io/SteemWhitePaper.pdf

How to open an account. NB:

• Once you create an account the name cannot be changed or deleted, it is part of the blockchain forever! Choose wisely
• You will be given a long generated password so you will need to be sure to store it somewhere very safe.

It is simple by clicking signup on the main page. https://steemit.com/