nothing is removed from steemit, you can flag stuff and it gets "hidden" but other than that everything you post tot he blockchain remains. The only way for things to be removed would be for the top 19 witnesses to form a consensus (2/3rds) and remove the spam, which would be awesome if there would be a quarterly or so spam removal where all spam is identified and categorized and marked for DELETION, saving bandwith and disk space with all the removed spam tucked in some archive.
RE: STEEMIT HEDGE FUND (All steemians can now invest safetly)
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STEEMIT HEDGE FUND (All steemians can now invest safetly)