Is Steemit a Ponzi Scheme ? or Why we Need Shadowbot.

Is Steemit a Ponzi Scheme ? or Why we Need Shadowbot.

Is Steemit a Ponzi scheme ? Of course not. But is it ? First, to be a ponzi scheme you would need Steemit to required a initial investment. Steemit is build on the creators. If the content could be considered as a initial investment, it still is new money.

Steemit users get rewards for content and others users can vote on this content. The more wealth (Steem power) you got, the more you can have an influence on the content and the network. Familiar? This is roughly how capitalism works.

In many ways, you could think that’s fair. You get what you’ve worked for. From my point of view, that looks more like a sort of patronage, a medieval sponsorship. Only a selected few will make it to the top while most of the minnows will beg for spare change.

Becoming a whale from scratch is the new crypto American Dream. But don’t hold your breath. You won’t be rich tomorrow. Steemit is a great way to share content and socialize with other users with similar interest. But there’s no such thing as a free sandwich. Creating good content means that you’ve put a lot of work into it. And who says good work, says good wages. At least, it should.

In real life (except in the USA), if you don’t have enough to live, you can get social security. The State will provide a kind of welfare to help you until you can get a job. This is more than just human decency, it’s an economic necessity. The State assure that people still consume and buy goods from their community. Poverty affect the whole system and without good wages, those small business or big corp can’t make a buck.

I think, we can transpose that here. Users with a lot of SP won’t get much for curation with minnows post. And minnows without Whales votes won’t get interested in spending a lot of time creating good content. That’s why Steemit needs a welfare system. We need a way to ensure that everyone gets the minimum for their content. Great content will get a boost and spam will stagnate.

That’s( in my opinion) what Shadowbot is trying to do. Socialising the cost and redistributing the wealth. While minnows will grow faster, Whales and High SP steemians will get bigger curation rewards. And bigger the pool, bigger will be the wealth redistribtued to every meber of the pool. Shadowbot could be the first step toward a fairer Steemit.

Of course, i’m Canadian, so i’m a f***** socialist ;-) But, take the time to think about it, wouldn't be fantastic if we all could get a little bit richer... if you have any ideas or comments don’t hesitate to contact me in the section below.

Thank you.