Have you discovered Steemit yet? The social networking site that pays you to contribute

Have you discovered Steemit yet? The social networking site that pays you to contribute

Last night I came across an interesting article in my Newsreader app about a site called Steemit (steemit.com). The reason it made the news was because it has made a landmark payout of $1.3 million dollars to it's users and early significant contributors that are paid for posting high quality content to the site in a wide range of different subjects from politics to gardening, music & entertainment and more.

Steemit is a "decentralized social media platform" and has now been running for 3 months. They say that "more than $1.3 million worth of the Steem supply was distributed into the wallets of thousands of users across the world. From every corner, users have been drawn to Steemit because the system actually rewards thoughtful comments, unlike Reddit or Twitter. The community and the blockchain together power a system that gets better and better every day."

Half of the $1.3 million supply of Steem was distributed in Steem Dollars, which is basically a form of Steem worth roughly one US dollar, and half in Steem Power, a vesting currency that supercharges voting power via the platform.

One guy who posted an article 20 hours ago is apparently going to get paid $1,951.59 for it and that amount keeps going up the more people that comment on and upvote it.

You can create an account with Facebook or Twitter and then post unique articles to the site which other people can "upvote" and the more upvotes you get on your articles, the more you get paid.

I'm still trying to get my head around how Steem works but these videos should bring you up to speed about how the basics of Steem works and how you can use it to make money by posting high quality content on the site that other Steem users like.

What do you think about Steemit?

Are you likely to join and start posting?