Steemit is a Ponzi and a Scam... only an idiot wouldn't see that!
1.anyone can make an account and put a picture of a girl with nice boobs and write on a board steemit + date. my guess their is allready many fake accounts out there.
2.people copy past from the net
3.some great articles made 0.1usd some shit ones made 20kusd
4.once their will be too many bots and people no one will be able to read anything the structure of the site is pathetic
5.do you really think its normal to make 20k usd for 1 article? 1 year salary???
6.80% of steem are hold by the founders
7.19% of the rest by early adopters no one else stand a real chance
wake up and don't buy into it... just comment and make money if you can!
Do you even know what a ponzi scheme is? A ponzi scheme requires people to pay money in the expectation of a return but uses that money to pay off old investors. At some point the scheme will collapse.
Steemit is asking for people's time but is asking for very little if any money. Why do people erroneously call any crypto currency a Ponzi Scheme. They may be other things but not that.
https://en.wikipedia.org/wiki/Ponzi_scheme
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excellent distinction.
that got my vote. :-)
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Thank you @rok-sivante I hate it when people throw the Ponzi word around when they think anything is a scam. A Ponzi scheme is a special kind of scam, think Bernie Madoff, et al. Ponzi schemes are actually pretty brilliant and take special people (heartless as well) to pull them off.
Steemit is brilliant as well but it is obvious the creators are thinking of the people as an asset and the best way to use that asset is to give them a share of that profit, or profit sharing. A typical person could literally walk into this place without a penny and cash out. No Ponzi scheme works like that.
Steemit may ultimately be unsustainable (I believe it is sustainable) but it is no scam in my opinion.
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That's life, we need to band together if we want a chance to get noticed by whales.
I have made a post calling all minnow to unite in one thread.
https://steemit.com/money/@ma3/minnowese-unified-party-of-steemit-let-us-vote-together-minnows-for-we-are-the-99
Feel free to check it out.
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What about YouTube? A lot of people consume information and offer comments instead of creating content. Not everyone for good looks. Yes some content is being missed because you need to build a following and prove people should continue coming back to see what you have to offer. Do you know the long term plans of steemit? Unless you were in on a development meeting you cannot speak as to where the platform will go. Also if you believe this, why bother wasting your time telling others. Nobody is begging people to come and spend time here. People may come and go as they wish. I invested 0 dollars of my own. They gave free money to create content and I have made more than four time the initial in less than a week. I can't tell you where it's going to be in a year either, but I enjoy the community here.
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@pharesim I've never asked a whale to give any traction to my posts, but if you believe the post I've created to be the sort of value the platform is looking for would you consider upvoting it? If not no problem, but I was really hoping a polite discussion from the intelligent minds on steemit would comment a little on the presidential election. https://steemit.com/vote/@bendjmiller222/trump-hillary-my-vote-may-be-up-to-you I understand if you don't get the chance to look at it, but I'm coming up from just the steem I got on sign up and are the first whale who has upvoted a comment of mine. At the very least thank you for the support!
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Since my start over a month ago, I've wondered the same thing.
HOWEVER...
I've invested NONE of my money. I have written solidly for one month straight. In that time, I've earned more money that I have in the same period of time at any other point of my life. I've taken funds out into my bank account.
Recount:
how does this fit into the definition of a ponzi scheme?
It doesn't.
The system IS complex. I understand why it might be comparable to a ponzi. Though, it doesn't fit the definition. It COULD turn out similar - depending on whether revenue streams are generated or not, outside of capital investment.
If new applications to be hosted on the Steem blockchain and leverage the infrastructure of the Steem ecosystem that become income streams of their own, then this cannot fit any definition even closely resembling a ponzi scheme.
Time will tell as to what else does get built out. However, it's an open-platform for ANYONE to step up, contribute, pitch ideas, get immediate feedback, access a wealth of knowledge & human resources to get ideas developed & executed quickly.
So in essence, it's all a matter of what we make of it.
Sitting on the sidelines not choosing to understand how the system works or how to be of value to the community, there's the temptation to say its a ponzi. BUT, if you learn how the game works and put massive time & energy into creating value for the community and making the most of what can be built on a blockchain with teams of brilliant programmers and entrepreneurs... game-change. :-)
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Raise money first and figure out a business model later! Seems to work for very well for a lot of startups in Silicon Valley.
But seriously, Steemit does have a lot of intelligent people in the community and behind the scenes. Also, apart from members here, crypto investors seem to be pouring money in (how else would STEEM jump to number 3 crypto market cap so quickly) and they're not stupid either. Steemit is definitely on to something big.
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Well said ! I can also vouch for "effort in - value out" with no money invested besides domain rego's :)
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Every social media has spam, bots, fake accounts and bad posts, Facebook, Twitter, Youtube, you name it. The currency here is the people, no one is asking you to invest money on it. You get paid 0 dollars everytime you browse Facebook and you look at ads and baby photos all day!
I'm not saying Steemit is the ultimate platform, it has a long way to go, but it has definitely gained traction and opened a Pandora's Box if you will. Companies could buy Steem Power and influence markets, create their own ad channels, hire great curators, the possibilities are endless, the truth is most of us don't really know where it will be in 6 or 12 months.
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