Steemit incentivizes blogging instead of mining to earn the cryptocurrencies SBD (Steem Dollars) and Steem. With Dtube now part of the game, things just got even better!
Now, it’s even more promising and interesting. We see Big-time Youtubers starting to ‘migrate’ to DTube and the apparent biggest reason is the compensation system. Youtubers earn from advertisements put on the bottom or within their videos. DTubers, on the other hand, earn from part of a ‘reward pool’ which proportion is directly determined by ‘upvotes’ (likes) on their videos. We will take a look at some examples where we can see this direct comparison betweed Dtube and Youtube:
How to Earn on Youtube
YouTube is definitely not a quick way to earn money. It’s just not. I think most of those who decided to make a youtube channel because they thought that's the way to earn thousands of dollars with hardly any effort already stopped. You won’t be successful or rich on youtube by uploading a couple videos and hoping one of them goes viral. Now, Steemit and DTube are not supposed to be much different in that respect but we’ll get to that later.
To make money on YouTube, you need to consistently upload high-quality content to your channel and develop a large fan base. Then, Youtube will notice how many subscribers you have and how many views your videos usually get. They use such data to determine your position in the search results. Once they begin positioning you higher on the search results, only then you can expect any kind of money coming in.
If you don't know how YouTube works, making money on YouTube really comes down to one thing: advertising. If you’re a really big channel, sometimes, you can see crowdfunding or sponsorship opportunities. But for about 95% of Youtubers, their income mainly comes from advertisers who want to promote their content online. There are two main types of ads and you’ll probably recognize both of them. The first one is auction display ads. They appear on the bottom of the video and you can either click on them or X out of them. The other kind is what usually plays in the beginning of videos and are usually 30 seconds long. Most of the time, you could skip these ads after 5 seconds.
On YouTube, you don’t get paid everytime someone watches one of your videos. You only get paid when your viewer interacts with an ad that may or may not even appear.
Ads only show up on your videos about half the time. It’s a pretty fair assumption that YouTube may randomly decide not to show an ad during a playback. Let’s say whenever an ad shows, viewers interact with them only about half the time when they actually enter a website for the ad or watch the whole ad video. After making it through all those odds, Google takes half of your earnings. It’s fair enough although it can be a little bit discouraging for those who are just getting started. Moreover, if you use any third party network to promote your videos, they will take another part of your earnings too. So, in the end, you’re actually getting a very little proportion of the advertising money. Some say they earn $3-5 per 1K views but it depends on many factors, so the figures vary.
How to Earn on DTube
DTube is the official video hosting site for Steemit. If you already have a Steemit account, you just have to login using your Steemit username and posting key (password for posting). Earning on DTube is just the same as earning on Steemit. The reward pool is split among members who posted something and each one gets a share depending on the value of the post, (based on upvotes and the voting power of those who voted).
In our case, the money doesn’t come from advertisements but loans on Steem, which is a digital asset.
A blockchain-based software network creates Steem dollars, to be used as currency, from loans on the value of Steem digital assets. Steem digital assets represent the ownership of this software network and have value because they're useful and they are scarce.
Source
Steem has digital value and the more people earn it through blogging and use it, the more it becomes valuable. It’s not that easy to understand how something digital can have value but just think about online games where players started cashing out on characters and virtual game tools in order to advance further in their game faster. Some successful game players also started selling cards, game tools (also virtual or represented by physical cards), characters and credentials.
On the other hand, Bitcoin is earned through mining (not blogging and not by playing an online game). Miners used to do mining on personal computers but just like real physical gold, the more miners try to get a hold of it, the scarcer it becomes and the price goes higher also because you now need specialized equipment. The 'gold-panning' days are over! Understanding this whole idea of blockchain and digital assets (no matter how simplistic the approach is) is key to understanding where the money comes from.
So why are Big-time YouTubers with hundreds of thousands of subscribers join DTube?
Simply put:
Same quality content, same influential content-maker, more than 10x more earnings!
You will start to see more and more examples but the first one I noticed was The hodgetwins
Also, a 180k YouTuber Advocated Steemit/Dtube To Over 30,000 People Today!!
Update: A new post by (A YOUTUBER/INSTAGRAMMER WITH OVER 150K FOLLOWERS)
This is where it really gets promising. The more people earn Steem, the higher its value is going to be. I don’t give investment advice but I like the fact that you don’t have to spend cash to get Steem (although it's an option). You can’t mine it like Bitcoin either. You can earn it just for upvoting the work of your favorite author and by commenting. If you happen to enjoy sharing your thoughts and even your life experiences through blogging or Vlogging and you’re looking to earn for providing quality content, that’s even better! These platforms (Steemit and DTube) are right for you.