As a supporter of both Bitcoin and Steemit, I'm a bit divided on this issue.
According to a recent article, a new social network is emerging that pays its content creators and curators, much like Steemit does.
This new project is called "Yours" and it claims to do all the same stuff as Steemit, except with Bitcoin.
As a Bitcoin enthusiast, I probably would have been all in favor of this idea, if I had found it before I discovered Steemit.
But now, I have a few concerns.
- How will the Yours network compare to Steemit? Can it provide payouts as big as Steemit's to any posts?
- Won't it need an immense mining undergirth in order to guarantee payouts, assuming those payouts are as big as Steemit's?
- If it can't make these guarantees, then how does it expect to compete with existing technologies?
- "Yours" claims that it differs from other social networks because, in their case, the authors retain ownership of their content. Does Steemit not do that?
And that last point is particularly troubling to me. I don't know if Steemit claims ownership of authors' content. I guess I need to take another look at the user's agreement, perhaps?
But in any case, I have trouble seeing the point of the Yours network. Bitcoin is great at a lot of things, and it will always be able to things that Steem can never do. But Steem is a currency that was specifically created to work for a curated social network. I don't think Bitcoin can operate in that sphere nearly as well as a currency native to that technology.
But I'm not the expert on these matters. What do you think? Let me know in the comments.