Why I Love Blockchain-based Social Media Platforms Like Steem?

in #socialmedia5 years ago

I believe social media fans and users can finally breathe some relief. For decades it would always seem easy and practical to use Facebook, LinkedIn, Twitter, and other internet-based platforms. But thanks to blockchain (not crypto), there is a seismic shift.
The old social media platforms enjoy strong monopoly and are fraught with abuses. Chief among those abuses are the holding, collecting, and monetizing of user's identity and data through advertising sales without consent. The new social media platforms like Steem are totally opposite and put users on the driver's seat.
As users regain control over their data with the ability to monetize it because of their time and creativity, I sense the birth of a new social contract in which users get educated in digital age technology and wealth distribution takes different shape.

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Welcome to Hive. You need to be careful about using the "S" word on this platform as many are still bitter about Justin Sun's takeover of SteemIt.

The site Hiveblocks shows all of your transactions on the Hive Blockchain.

https://hiveblocks.com/@ppancaldi

This page shows that you have no HIVE POWER in your account. You need HIVE POWER for resource credits and to power your upvote.

An account with no HIVE can only post twice every five days.

If you are trying to build an account without having buying HIVE POWER; your best bet is to write a post with the tag #introduceyourself . It helps if the post has some compelling photos. There are people who like to upvote new users.

You will get the rewards for your post seven days after posting. As your HP increases, you will be able to post more and write comments.

The power of an upvote comes from interest on the HIVE POWER in one's account.

The upvote calculator shows the value of an upvote for a given amount of HIVE POWER.

The upvote of an account with $250.00 in HP is usually around $0.01 (a penny). Each upvote reduces one's voting power by 2%. Voting power regenerates at 20% a day. That is 10 upvotes a day.

If the person with $250 HP upvoted 10 times a day for a year, the person's upvotes would be worth $36.5 ; So that is a good interest rate. The problem is that the price of HIVE is not fixed. It tends to fall. It is possible for the value to fall to zero.

Good luck on HIVE.