What is your opinion on Steem and SteemIt

A wad of paper, a lump of gold, a sack of flower bulbs - things have the value that people attribute to them. At the moment the excitement about the cyber money Bitcoin is reminiscent of the tulip mania in Holland in the 17th century. This is proven not only by its exponential increase in value, but also by reports that the monthly electricity consumption of a German one-person household is used for a Bitcoin transaction.

Fortunately, almost anyone can create their own cryptocurrency. Ned Scott and Dan Larimer did just that. They call it Steem. Here as there, the individual units are generated electronically. But Scott and Larimer built a social network around their digital money. Steemit is the name of the website that is in beta. In categories such as photography, art or food, people express their opinions; individual contributions can be rated or commented on.

What is new about Steemit is that it pays its users - currently around 350,000 accounts are registered - for their activities. So far, the generally accepted business model has been that the content generated by users brings billions in advertising revenue to social networks, but the people who keep the system moving get nothing.

Steemit has distributed $ 30 million to its users so far

Steemit is different. The more successful a post is, the more the author can earn. Since its inception, the network has distributed around $ 30 million worth of digital coins to its users. The entire market is worth almost ten times that - the exchange rate can fluctuate.

The idea is not new. The old net hippie Jaron Lanier developed a similar redistribution system in 2013 in his book "Whom does the future belong to?" required: Personal data only for cash. For every pic of lunch on Instagram, for every obscure thought on Twitter, micro-amounts should be paid. Lanier hoped that this could create a new digital middle class in the long run. Back then, the attention economy was nowhere near as fast as it is today.

In the meantime there are even calls for a taxation of data usage. After all, it is estimated that the total number of interactions a user has with a network like Facebook each year generates around $ 1,000. How about, ask privacy advocates, if you levied a fee of just one percent and thus financed broadband expansion, for example? The idea of ​​a VAT has seldom sounded more tempting.