Today I want to talk about another social platform like BitLanders, called Steemit!
I started on Steemit before I found Bitlanders, actually, and I really enjoy it. It's a much different experience than Bitlanders, and I want to discuss the many ways it is similar and different as a social media and money making platform!
Wikipedia describes Steemit as such:
Steemit is a blogging and social networking website that uses it's steem blockchain-based rewards platform for publishers.
So what does that mean exactly? And how does Steemit reward for content? And how does it differ from Bitlanders?
source: Keep Calm &Steemit user: @cryptogordo youtube.com
Buzz Score vs Reputation
image source: pixabay.com user mohammed_hassan
Whereas Bitlanders seems to be more about activity and buzz to buzz rewards, as well as having a more centralized model for blog submission, and recieving buzz for completing daily tasks, steemit is set up to be more decentralized. It is also far less consistent with rewards even though the potential to earn is much higher on Steemit.
On Steemit you don't need gems to post. Instead of a buzz score, users have a reputation score, which is calculated in a similar way. You gain in reputation for the posts you post, their quality, and how often you upvote and comment on other posts.
User Income Solutions on youtube.com
Things that get get you a lower reputation on steemit include:
- Being flagged for posting stolen or plagerised or non sourced content
- Not being active and therefore not getting upvotes of any kind
- Not upvoting other users/interacting with the community
- Spam commenting and begging for upvotes on other users posts, as this normally results in flags
Upvotes vs Buzz
image source: steemit.com
On Bitlanders, we give users our buzz. Buzz doesn't seem to have a set price in any way, although I understand that the higher your account is in buzz the more your buzz tends to be worth to other users.
On Steemit your buzz is called your upvote and is directly related to how much Steem Power you have in your wallet.
image of my steemit wallet on steemit.com/@o0pepper0o
There are many ways to check how much your upvote is worth at any time. The way I prefer is through https://www.steemnow.com/
Which shows you how much your full 100% upvote is worth as well as giving you a neat sliding scale for how much it's worth at any percent.
image from steemnow.com user perguinpablo
Unlike Bitlanders, where it seems you can upvote as many posts as your fingers can handle, on steemit the more posts you upvote the less value they have. It is reccomended to only upvote 10 posts a day on steemit especially when you're new and your upvote is worth so little.
Your upvote is also constantly replenishing itself on steemit so it's a good idea to space out your upvotes for the best results.
Additionally the price of your upvote rises as you make money from posting and curation rewards. The amount you make in Steem Power for your posts or curation is directly realted to what your upvotes are worth. The most you rmake on your posts over time and on curation rewards, the more your upvote is worth.
Buzz seems to differ in that it changes in value based on your overall buzz score on site and your rank on the leaderboard.
Upvote price cannot go down like buzz score can, either, unless you decide to power it down manually. Otherwise, it should continue to rise as you make more money on site.
Posting Rewards vs Daily Rewards
image source: bitlanders.com task rewards for o0pepper0o
On Bitlanders, we get daily reards when we login. These are calculated for us based on lots of factors that can be found in the FAQ, but mostly it has to do with how much buzzing you did, how many buzzes you got back, if you wrote any blogs, and how many posts you made that day. You also get rewarded for completing daily tasks.
On Steemit we don't get daily rewards like this. Instead we get paid out 7 days after a post is made for whatever it made over the 7 days in the sites personal forms of cryptocurrency. How it is broken up between you, the poster, and the people who upvoted you is a litle more complex.
On Steemit you split your rewards or the money you make on each post with the users, or curators, who upvoted that post. They get a 25% cut of the rewards and you get the other 75%! This is why upvoting is encouraged and proitable on steemit. It actually makes you money directly to curate good content. The better the rewards on the post when it comes time for it to pay out, the more you will make on your cut for your upvote.
Additionally, users will make more in thier curation cut off your content if they comment on the post and resteem it. This amount will never affect you, though. You will always make 75% of the post cut. The amount you make on curation rewards though, can vary.
A great site to check rewards on your posts is http://steem.supply/rewards
Image from Steemsupply.rewards website
Additionally there are options for how you would like to be paid out, that you get to choose from before you publish your posts. There are three and they are:
- Power up 100%
- Default (50%/50%)
- Decline Payout
Power up: All your post reward will come back to you as Steem Power
Default 50%/50%: Your post reward will be 505 in Steem Power and 50% in Steem Backed Dollars
Decline Payout: You will not recieve a payout at all
Learn more about these options of payment and rewards in this helpful video:
video source: Brandon Frye youtube.com
image source: pixabay.com user OpenClipArt-Vectors
Flagging is comething we don't have on Bitlanders. Instead we have to submit our blogs for review and approval and if we post something that goes against the TOS of Bitlanders we are banned from the site.
Flagging is a thing on steemit for a few reasons.
- Since steemit is decentralized, this is how to police the site without censorship per say
- In theory it helps get rid of spam or unwanted posts on the blockchain by hiding them with enough downvotes/flags
- It is a way for all community members to participate in building the site
Flagging is, in my opinion, the hardest aspect of steemit, mostly due to abuses of power. Your downvote or flag worth is eqaul to what your upvote is worth, and since steemit is decentralized and want sthe community to do the policing, this has resulted in some massive "Flag wars" where one user with a lot of vote weight will get angry at another user with equal vote weight, and they will downvote each others posts to obliviion until both of their reps are ruined.
Should You Give Steemit A Try?
I feel this depends on the type of content you create. If you are a great blogger as well as a great video maker and image poster, then yes give steemit a try.
It's unfortunate that Bitlanders only really rewards heavily for blogs, and not for videos or galleries. If you find you are stronger in videos or galleries, maybe give steemit a try as well.
Steemit is very much about community engagement as well as quality content so if you want to make money on steemit you must be communal! When you upvote posts make a comment that is meaningful and adds to the conversation. DON'T make comments that just beg users to look at your posst or to upvote because you upvote [upvote for upvote] this kind of behavior is frowned upon on steemit even if it isn't agains the "rules".