2.50
Hdl Handle:
http://hdl.handle.net/2436/620844
Title:
Can Social News Websites Pay for Content and Curation? The SteemIt Cryptocurrency Model
Authors:
Thelwall, Mike ( 0000-0001-6065-205X )
Abstract:
SteemIt is a Reddit-like social news site that pays members for posting and curating content. It uses micropayments backed by a tradeable currency, exploiting the Bitcoin cryptocurrency generation model to finance content provision in conjunction with advertising. If successful, this paradigm might change the way in which volunteer-based sites operate. This paper investigates 925,092 new members’ first posts for insights into what drives financial success in the site. Initial blog posts on average received $0.01, although the maximum accrued was $20,680.83. Longer, more sentiment-rich or more positive comments with personal information received the greatest financial reward in contrast to more informational or topical content. Thus, there is a clear financial value in starting with a friendly introduction rather than immediately attempting to provide useful content, despite the latter being the ultimate site goal. Follow-up posts also tended to be more successful when more personal, suggesting that interpersonal communication rather than quality content provision has driven the site so far. It remains to be seen whether the model of small typical rewards and the possibility that a post might generate substantially more are enough to incentivise long term participation or a greater focus on informational posts in the long term.
Publisher:
Sage
Journal:
Journal of Information Science
Issue Date:
Dec-2017
URI:
http://hdl.handle.net/2436/620844
Additional Links:
http://journals.sagepub.com/loi/jisb?expanded=2016
Type:
Article
Language:
en
ISSN:
0165-5515
Appears in Collections:
Statistical Cybermetrics Research Group

Full metadata record

DC FieldValue Language
dc.contributor.authorThelwall, Mikeen
dc.date.accessioned2017-11-13T11:56:08Z-
dc.date.available2017-11-13T11:56:08Z-
dc.date.issued2017-12-
dc.identifier.issn0165-5515en
dc.identifier.urihttp://hdl.handle.net/2436/620844-
dc.description.abstractSteemIt is a Reddit-like social news site that pays members for posting and curating content. It uses micropayments backed by a tradeable currency, exploiting the Bitcoin cryptocurrency generation model to finance content provision in conjunction with advertising. If successful, this paradigm might change the way in which volunteer-based sites operate. This paper investigates 925,092 new members’ first posts for insights into what drives financial success in the site. Initial blog posts on average received $0.01, although the maximum accrued was $20,680.83. Longer, more sentiment-rich or more positive comments with personal information received the greatest financial reward in contrast to more informational or topical content. Thus, there is a clear financial value in starting with a friendly introduction rather than immediately attempting to provide useful content, despite the latter being the ultimate site goal. Follow-up posts also tended to be more successful when more personal, suggesting that interpersonal communication rather than quality content provision has driven the site so far. It remains to be seen whether the model of small typical rewards and the possibility that a post might generate substantially more are enough to incentivise long term participation or a greater focus on informational posts in the long term.en
dc.language.isoenen
dc.publisherSageen
dc.relation.urlhttp://journals.sagepub.com/loi/jisb?expanded=2016en
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectSocial news websiteen
dc.subjectSteemIten
dc.subjectRedditen
dc.subjectCrypocurrencyen
dc.subjectBitcoinen
dc.subjectSteemen
dc.titleCan Social News Websites Pay for Content and Curation? The SteemIt Cryptocurrency Modelen
dc.typeArticleen
dc.identifier.journalJournal of Information Scienceen
dc.date.accepted2017-11-
rioxxterms.funderInternalen
rioxxterms.identifier.projectUoW131117MTen
rioxxterms.versionAMen
rioxxterms.licenseref.urihttps://creativecommons.org/CC BY-NC-ND 4.0en
rioxxterms.licenseref.startdate2017-12-01en
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