Steemit, a social media platform based on a cryptocurrency named Steem. The site has been creating a buzz for a while now among the people all over the world as it is attracting more visitors to the site by giving money away.
On 4th July 2016, Steemit gave away as many as $1.3 million worths of digital currency, steem Dollars to all the users who have been uploading content and voting on steemit. Since then the site has been growing at a phenomenal rate.
In just over two months time, the reward distribution has doubled to $26 million, moreover website traffic has doubled and new account registrations have tripled. The posts have risen from 1,200 per day to 2,400 per day. The exchange rate of Steem as compared to Bitcoin is also on a higher side during June and July 2016, with one Steem power peeking at a price of over $3 USD.
But one big question is Steemit really a money making machine ?
As it is seen that over 30,000 registered users only a small portions of people are making big money, most of the posts and videos go unseen and with very few upvotes. A blogger pours his heart out writing, carefully proof-reading and re-writing it along with witty pictures and images into the post and thinks its all done, but it does not end here. Here enters the Steemit Algorithm which considers many factors before rewarding the writer. You may see some post which you may think is not worthy but still, it has earned more than $1000.
The one big point is the Original content, if you write something that is original and not copied you are sure to get rewards for your hard work,
Correctness and Formatting helps the readers read it and understand it. Many writers in their blogs have also expressed their views about the original content go without notice and any upvotes, resulting in $0.00 earnings. Many people have also started blogging that the platform is shifting to the worst.
As every theory has exceptions, Steemit is also the same all human beings have different experiences. I would suggest do not give up if you pen something that is your own you are guaranteed good returns. Personally, I would like to read articles which have high originality score.