Money is vital for our wellbeing and thus is great –I will remiss if I indicate otherwise, however we all know that the love of money is the root of all evil (1Timothy 6:10) because it can lead to greed, jealousy , killings, fake friends and fake promises. Moreover, unlike many other social media platforms, steemit introduction of monetary reward has it upsides:
- Lifted many poor families from developing countries by giving them the opportunity to earn online
- Helped many people get a full time income opportunity
- Helped many people earn well while doing what they love
- Helped entrepreneurs raise money for their innovative ideas
- Helped people or communities raise money for a good cause
Conversely, however, there are downsides to it:
- Greed replacing Sincerity : human nature is fraught with greed so expect many interactions (not all) to be influenced by some form of reward thus going against the real intentions of steemit : genuine social interactions. Moreover, in order to get out as much reward as possible, many people base their strategy on creating a lot of bots account which they use to up vote their comments and posts and thus they have less time and interests for genuine interactions.
- Vote for Vote : the good intentions of introducing monetary reward on steemit has led to extreme lack of manners of approach from some members (again not the case with majority of good members) which is visible in their comment examples vote for vote and follow for follow. These types of comments have led to flagging and most of the time, loss of social contacts which is a bad thing. Genuine comments, on the other hand, can lead to good financial reward, social interactions and growth in followers on steemit which is a great thing.
- Competition : Genuine competition is great because it leads to innovation. However when reward system lead to jealousy for example, some people not being happy that some members are constantly in hot and trending pages or even some new members monetary rewards are higher than their own- in fact, there should be change in mindset. Reason is that, even though some do get more favorable votes, we should consider their constant quality posts, time invested in growing followers and most importantly, their investments in steem power. Therefore, it is time to stop hating and rather focus on how to personally be a success by benchmarking successful people in order to learn from them and thus be successful like others in the near future.
Conclusion: steemit is indeed one of the best social media platform due to a lot of positive things members can do here especially the learning experience. However, monetary reward has caused some issues and thus have its own limitations. The important thing to note , however, is that steemit great communities plus good individuals on steemit platform surpasses all limitations and will make the platform a success.
Do you agree with the points raised here? send in your comments and please would you up vote my post in order to send in your support, click follow in order to see future posts from me on your feed and resteem in order to share this post with your followers.
See my former post: Will Steem be Ethereum and EOS Killer ?
For those who want to be an investor in Bitcoin wallet see X coins link: https://xcoins.io/investors?r=v93e2z