@madillorama This is great article by one of the founders @dan (https://steemit.com/steem/@dan/steemit-s-evil-plan-for-cryptocurrency-world-domination) which explains what they are trying to achieve in the long term. In simple terms, think of Steem as a share in a cryptocurrency network.
Steem is the power which keeps everything moving, like national currencies in conventional trade. If you write good content or curate well, you will get rewarded with Steem that are created each day. In the first year, every Steem is diluted 100% (1 Steem is created for every steem that exists), these Steem are given out in rewards on a basis on your contribution to the platform. You contribute more (quantity and quality), you get more.
Long term, Steemit is aiming to become a gateway to a stable cryptocurrency. Because the currency becomes ever more distributed and circulation increases with every individual that signs up, @dan and @ned hope to create the conditions to create the first stable, viable cryptocurrency (if you believe Bitcoin and others are too volatile...).
Early days, but off to a good start
Thats great! And to think I just came here because I thought steemit might just get my unemployed self a free beer. I didnt realize we were trying to change the world! In fact, that gives me an idea.
Thanks so much! Clearer than ever!