I believe Steemit was implemented to create a ambivalent marketplace to introduce and stabilize the growth of Bitcoin as a currency. Introducing it to the world in another platform that would exploit its use. Offering another place to actually use it. BOOM! Huge growth in value of both. Bitcoin is an amazing new currency that is digital with growing influences around the globe. It started as a small idea that caught the attention of gamers . They were used to in-game purchases with cyber coin. grabbing the attention of commerce traders who saw $$ in the growing market. Like all oceans it ebbed and flowed with the moods of its buyers. Sometimes Bitcoin grew with what looked like no cap. Then lost value or steem lets say.
Then one day an amazing new blogging website was created STEEMIT. People of all walks of life, from all over the planet have a deep seeded need for approval. A pat on the back for a job well done no matter the medium in which they perform. With the incentive to be paid for their creations it seemed like a dream come true! A flood of creative people joined with the promise of two types of reward, one for their heart and one in their piggy bank.
The surge of newbs and the huge increase in Steem value attracted a hoard of bottom feeders to the party. We all know sex sells and a combination of worthless posts and smut flooded the feed. Next came the two episodes of hacking. Then temporary shut down of the site. Absence makes the heart grow fonder. Especially with "access denied" to all would be steemians. Here's where the negative brought a positive response. The headlines in general drew big attention to the site and the value soared again. Now we have the "buy steem now" button. Bitcoin is steeming right along.
Thanx for listening & Blessed Be!
ps my flesch-kincade score should be 8.5 & a 72% reading ease so 8th grade reading level. We'll see what isasc the downvoting asshat has to say. More to come with my investigative report tomorrow.