STEEMIT – The Business Case – Part One : A brief history of Social Networks… LOL :-P

SteemIT – The Business Case

Part One : A brief history of Social Networks… LOL 😛

In the business case for Steemit I’m initially going to take you on a little journey down memory lane.

First there was MySpace, and then came Facebook.

Social Media exploded out of the blocks and hit the mainstream when facebook opened up its books to the general public (it was exclusively for university students at first). Previously there was MySpace which, was great but this was still a bit techical for most of us, and when NewsCorp took it over, frankly, it died there and then.

Weird Zone

In the beginning, we were all addicted to facebook and looking at the pictures of our long lost friends all day long and it truly was fascinating. We scoured for hours photos of our friends and friends of friends of friends of friends etc until we got to the weird zone of just looking at complete randoms far removed. Hours of work days were lost , until most companies banned the site on their office computers.


We looked at endless pictures all day long of the opposite sex genuinly intrigued at the prospects this new platform offered to our lives. We went to the party with all the invitees, excited by the prospect to meet some of these people and only to find out that harldy any acceptees actually showed up.

Loved and Lost

Then we realised we had nothing in common with these friends and in fact they were not actual friends at all and there were good reasons why you never stayed in touch. I feel sorry for any of you that actually attended a reunion. I feel happy for those of you that rekindled an old flame and even found love, if even only to at least to realise there was again a reason you were previously apart.

Mamas & Papas

Then came mum & dad to spoil the party… Their friend request went unaccepted for months while you edited your profie and history of defamatory comments. Resistance was futile as mummy and daddy got us in the end with their smiley faces 🙂

I’m gunna get myself arrested 

Then whatever you posted became news and you could be prosecuted and arrested for just writing a joke! LOL.  This changed  everything, and meant people became afraid to post.

Nasdaq et al

Then the Facebook stock market listing was a roaring success and the adverts came in force to interrupt your ‘innocent’ browsing.

In the meantime we also had twitter , pinterst, snapchat etc, etc and social networks just became a fabric of our lost lives. Every 5 minutes we had on the bus or train was taken up by these new sources of information  on our phones.


Now facebook is nothing more than people posting candid camera, funny videos, cats, people doing the craziest things and the adverts that Facebook profits enormously from.

For some time now Facebook users have been left frustrated with knowing that essentially facebook just sell your personal data to other companies for advertising, profiling etc and they profit at your expense.


Then came Bitcoin, and the promise to turn money and the business world on its head. This is where Steemit comes in.


Through Steemit you have the opportunity to actually monetise your content , posts or ramblings. This works by intertwining a bitcoin like cryptographically secured currency into a social network and reward  the users for the popularity of their posts and valued participation.

Some have called it a scam but the founders are credible and its success continues a pace. More on the next steps and the business case for Steemit in Part 2…

Watch this Steem…

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