Steemit Founder: Bitcoin Mining Model is Fountain of Youth for Mainstream Media
The current business model of social media doesn’t extend profits to the creators of the content. Besides, it is susceptible to censorship, as actors with enough power can exert pressure to block users or content that they don’t like. “The mainstream media has lost power recently thanks to free speech enabled by the Internet,” explains Dan Larimer, Co-Founder of Steemit. “Fake news frequently circulate our media feeds, causing platforms and outlets to lose value and power. In response to this, they are proposing censorship as the solution, yet censorship does not give people the....
Related News
Social media is a major component of the Internet and has already transformed how humans communicate and interact. Looking to take things to the next level, a few projects are trying to combine social media with the blockchain. Steemit. Blockchain-based social media platform Steemit has gained quite a following in the past few months. The project was....
Gamerholic, a cryptocurrency-fueled competition platform for casual gamers, has taken a page from Steemit and created a monetized social media platform tailored towards the gaming community. Gamerholic Presents Monetized Social Media for Gamers. Utilizing a Reddit and Steemit-inspired voting system, posts on the platform earn “Respeck.” The more Respeck a post earns, the more money it receives. Additionally, users who give their Respeck to posts earn a portion of the rewards. Funds for these content rewards come from a percentage of the platform’s service fees, which differs from the....
The social media website Steemit that’s similar to Reddit has just announced it has distributed $1.3 million USD in the platform’s native cryptocurrency Steem. The website’s user base will have a lot more digital currency to earn just by posting original content on the decentralized platform. Steemit Users Rewarded. On July 5, the Steemit (steemit.com)....
On November 11-13, the popular blockchain-based social media platform Steemit will hold its first public event in Amsterdam. The conference is expected to host over 200 participants and is organized by Roeland Landegent, a Steem developer and entrepreneur. SteemFest to Bring ‘Steemians’ Together in Amsterdam. The Steemit platform, which rewards users for....
Blockchain-powered social media platform Steemit, a new novel experiment in social media that sees users rewarded in the token cryptocurrency Steem has been the target of a cyber attack. Steemit, a new social media website that has grown tremendously since its launch two months ago has seen its token cryptocurrency Steem’s value explode over the past week. The digital currency now sits third in the cryptocurrency market value charts with over $360 million at the time of publishing, only after Bitcoin and Ethereum. Speaking to CCN earlier, Steemit CEO Ned Scott described the platform as....