I think this site has some real potential. I cant understand why anybody would want to do social media for free when they could make some $ by making good content on here. As far as I'm aware Steemit are first to the market with this idea?

They have a good headstart, so long as facebook/reddit dont start doing the same thing very soon they stand a good chance of success.

One question though... the name... Steemit, i dont get it? Reddit i get, Steemit, i dont?