RE: Let's Crowdsource An Article About Steemit For The IE Website
Hi Stella,
Your output is amazing! So much, so soon!
Anyway, let me answer your questions as best I can.
Do people actually get paid?
a) No one has been paid yet. On July 4th, Steemit users will get a chance to power down 50% of their Steem Power to Steem DollarsThe exchange rate is SD1 = $1, Steem tokens however are (at the moment) worth $0.36, but there is 21 times more Steem than SD so the Steem are used as a kind of guaranteed token, to ensure SD remains at a 1:1 ratio. I don't understand it properly, but if you do a Bitshares and Nubit search you will (perhaps) understand it more.
For now check out this Steemit article called;
What Makes The BitUSD Better Than Nubit?
3 Not sure yet, I see it in a positive place, but, I'm not sure where.
4 No, it won't replace Facebook, people won't come on here to socialise in the same way they do on FB, it's more likely to "replace" Reddit.
5 From the podcasts I've listened to and the articles I've read, I would say that they are both highly motivated by the cryptocurrency arena. They are also motivated by the idea that the blockchain can be the answer to a rewards based, decentralised, blogging platform, they want to see it grow.
I read a reply by Dan, to a post yesterday and he said that Steem should be imagined as the tree and Steemit as one of it's potentially, many branches. (Paraphrasing, rather than direct quoting)
Check out this podcast, Ned explains Steemit, there are more, but I like this one https://letstalkbitcoin.com/blog/post/ep-81-ned-scott-explains-steemit
for #2 .. The SD is vastly different from bitUSD,Nubits and is more based on seignorage shares (Robert Sams) than others. I'll come back with more later ... thanks!
Oops, sorry, I should stop commenting on things I don't understand :-)
sometimes commenting with a semi-correct answer is good because it clears up questions that many people have but might be too scared to ask. Also, it gets the correct answer served up more quickly.
thanks
ok, this is great information. I will certainly credit you. I will definitely check out that podcast. " but there is 21 times more Steem than SD so the Steem are used as a kind of guaranteed token, to ensure SD remains" This part is pretty fuzzy to me. Anyone want to talk about the 21 times more Steem thing in detail?
Yeah, I just listened to the podcast and it's really good. It clarifies a few things. Thank you.
Cool, no worries :-)