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dc.contributor.authorThelwall, Mike
dc.date.accessioned2017-11-13T11:56:08Z
dc.date.available2017-11-13T11:56:08Z
dc.date.issued2017-12
dc.identifier.issn0165-5515
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.
dc.language.isoen
dc.publisherSage
dc.relation.urlhttp://journals.sagepub.com/loi/jisb?expanded=2016
dc.subjectSocial news website
dc.subjectSteemIt
dc.subjectReddit
dc.subjectCrypocurrency
dc.subjectBitcoin
dc.subjectSteem
dc.titleCan Social News Websites Pay for Content and Curation? The SteemIt Cryptocurrency Model
dc.typeArticle
dc.identifier.journalJournal of Information Science
dc.date.accepted2017-11
rioxxterms.funderInternal
rioxxterms.identifier.projectUoW131117MT
rioxxterms.versionAM
rioxxterms.licenseref.urihttps://creativecommons.org/CC BY-NC-ND 4.0
rioxxterms.licenseref.startdate2017-12-01
refterms.dateFCD2018-10-19T08:43:46Z
refterms.versionFCDAM
refterms.dateFOA2018-08-21T14:31:18Z
html.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.


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