Well mylots a little like myspace and yahoo answers rolled into the one, the difference being that they pay you to post. It's easy to sign up to mylot, once you are signed up fill out your profile a bit and then look at the discussions on the discussions page, find something of interest and reply to it or start your own discussion and you get payed. They pay using paypal with a minimum payout of $10. I can say that after using it for a little while the earnings are fairly decent.
As for it being like myspace well you have a profile and you can add friends that's pretty much myspace.
It does feel very similar to yahoo answers as well.