While I was looking if any big medias wrote about steemit recently , I found an article on a new project that is about to come out very soon and seems to be similar to steemit in the curation and reward system but closer to reddit when it comes to how posts are shown to everyone.
Here is the video
Here is the article http://bravenewcoin.com/news/bitcoin-based-content-platform-yours-attracts-overwhelming-interest-from-investors/
I never heard of this project , So I am wondering what everyone think about this? Could this Steemit copycat cause any kind of competition.
What I understand so far
-They are in a very early beta phase
-their reward system is literally a copy cat of steemit
-They do not have their own currency and they use bitcoin directly
Since they use bitcoin directly , I am thinking their fees might be way higher then the ones we get here at Steemit.
I am starting to notice a few social networks powered by cryptocurrencies, launching and following the same pattern steemit is already into. The real big advantage here is the steemit userbase and the fact that Steemit is the very first of its kind active right now.
competition is good for business, as we say here in germany
Maybe it will! I am pretty sure both teams will push themselves even more knowing how hard they will need to fight to attract quality content!
i think yours will fail because the bots will undercut everyone.
Why do you think so If I may ask? I do think they will fail too since I hardly see how their reward system will work without the equivalent of a system like the steempower.
I do not believe in this project, contrary to steemit.com, you will need to have some bitcoins to use it, and you will need to pay directly the authors. Even though you could get your money back if you are an early curator, the facts that you have to use your capital to 'tip' content is not going to be very appealing after you've experienced the steemit effect.
Their only chance is that steemit.com fails, which they predict (https://engineering.yours.network/articles/2016-07-14-why-we-are-sticking-with-bitcoin/). Of course I would say the same if I were their PR.
Thats exactly what I though, who would load in their own btc just to start tiping people for their content. When you sign up in steemit they also give you a bit of steempower, I wonder what will be the equivalent of the steempower in their platform.
The thing is, can people vote without paying? And if so, what would be the point of having bitcoin as the main currency.
They're months behind Steemit in terms of refining the system to make it more fair. Even Steemit still has a way to go to deal with the issue of "race form voting" where people vote for whales and dismiss the potential of minnows.
Just the amount of time it will take them to gather people and test their features on these people will indeed take months and months. But I predict that the success of steemit will help them with a quick userbase kickstart. Knowing steemers, mostly minnows, they will test their luck on both platforms.
What about this?
http://www.coinsns.com/
Never head about it until today.
There are a few more of these, I am seeing more and more of them. To me the biggest social paying network powered by crypto until I heard about steemit was Getgems, promising development until they started falling into the shady lack of transparency they are at today.
Best post ever seen on steemit upvoted for you. if have some seconds please review my post https://steemit.com/nature/@simranverma/amazing-footage-shows-hawaii-volcano-smiling
I mean bots are losing more and more usability by the day. Com on this is basically spamming.