I see the marketing hook here. Get paid to share content. Reddit on a blockchain. Your upvotes and your content can generate you revenue.
It just doesn't seem scalable, nor does it seem to make sense at current levels.
I am just as excited to see true micro-transactions and micro-tipping come to fruition... but when I see someone making $100 on a 3 line comment, it just doesn't make sense.
I think it makes sense for people to be able to choose to give $0.05 along with an upvote, or $0.01 ... but I don't understand how users are just "generating" $ for posting and commenting.
I want to love Steem.
I want it to replace reddit as my daily go to news source.
I want it to succeed and I want people to get paid for creating and surfacing great content and discussions...
I just don't see how the economics of Steem are making any cents.
I made 3 comments so far and my balance is $8.50 or so.
I provided barely ANY value to any discussions ... how is it possible that my few comments and a couple of suggestions is worth $8?
As an altcoin trader, I understand the speculative frothiness of the STEEM cryptocurrency market on Bittrex - but as a user and an entepreneur, the dollar values I am seeing beside people's posts and comments don't make any sense.
Here's a little about me so you can see where my mindset is:
I'm a serial entrepreneur. I've been developing apps, games and web products since 2008. I've had millions of users play my games, and I've had top 15 overall iOS apps on the USA app store.
I'm an avid user of reddit.
I'm an early bitcoin adopter and I've been trading altcoins since 2013.
I've done successful crowdfunding campaigns in the past for films and games.
I'm a marketing specialist - social marketing, amazon product marketing, app store optimization, search engine optimization - etc.