IS STEEMIT A SCAM?

chaching (15) in steemit • 8 years ago

A friend showed me this video after I talked to her about Steem.

After watching it, I am having second thoughts about STEEM CASH.
Anybody else having that feeling?

8 years ago by chaching (15)

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theoretical (65) · 8 years ago

"STEEM CASH" is not a name that's ever been used by anyone at Steemit. A quick Google search reveals pages like [1], and someone else's post about this -- one of the commenters says this Steem Cash guy's a known scammer.

What I can say for certain: He isn't affiliated with us, his product doesn't look reputable [2], and I'm going to refer this to @ned to see if we can shut this guy down.

[1] steemcash dot com slash page9408963 -- I'm not linking because I don't want to give them Google juice.

[2] My personal opinion based on a few minutes' study of [1] and the linked post.

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2 votes

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chaching (15) · 8 years ago

Thanks @theoretical. While going through all the responses this post got, I found a post made by @marklyford: https://steemit.com/introduceyourself/@marklyford/the-truth-about-mark-lyford-and-banx, explaining what steem cash is all about.

I made this post because I did not understand the difference between the steemit service and "Steem Cash". For that, I am sincerely sorry.

Now that I get it, I am going to be making more valuable posts from now on.

Full STEEM ahead Steemians.

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karenmckersie (74) · 8 years ago

Its a free place to blog ! And possibly make money. You have 0 chance to make anything and blog anywhere else! This is a forum for writing. And reading and comenting on posts, your not expected to hit it rich!

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5 votes

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chaching (15) · 8 years ago

I do not know how you got into Steemit but this is the first line on their sales page: Looking To Make Some Quick Cash?: Well, You’re In Luck Because The Struggle To Find The Perfect “Cash Cow” Is Finally OVER…

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chaching (15) · 8 years ago

AND MORE:

There are only a few people that know about it out there right now, which means you won’t have very many competitors! But this could change as the platform becomes more popular, which is why it’s critical you get in now!

Others don’t know about Steem Cash yet. Of those that do, many are just hanging out posting random stuff…they’re also interested in voting, commenting on other people content - so you’ll have instant engagement!

You don’t want to miss the chance to get in on this now, working only the hours you want to work and having the extra income to really enjoy life. Don’t be one of those people who will kick themselves later for not getting in on this when they had the chance.

Everyone knows that the people who get involved in business opportunities early make the most money – before others join and the competition gets tougher.

Now is the time to take action and ride the Steem Cash wave while it’s fresh, new, and extremely profitable.

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steem-engine (48) · 8 years ago

Good video - thanks
Obviously steemit isn't asking for a penny so where's the scam in that. Just post high quality, value adding content and see what happens........ that's my advice.

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2 votes

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chaching (15) · 8 years ago

Thanks for the advice bro.

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wakeupnd (68) · 8 years ago

Look in your wallet. How many scams do you see?

The only investment you put in steam is your time. What is your opportunity cost, a few less hours of video games or tv? If so, I'd say you came out ahead.

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1 vote

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etcmike (76) · 8 years ago

I watched the video. Steemit does not fit in my opinion. Steemit specifically has features built into it that do not promise riches overnight. For example, even if you are very successful with a post, it takes a week to transfer the steem dollars to steem and weekly payments over two years to convert your Steem Power to steem. Steem is then traded on the open market with no certainty of price (i.e., price goes up and down with the market for steem). Again, no promises of overnight riches. This is spelled out in the steemit white paper.
Upfront to be successful on steemit means work with no certainty or hype of success. Steemit is asking and rewarding users who build a community of content and that content is in many respects the currency of steemit.
Yes, it does seem like a few posts hit the lottery from time to time. But watching and listening to those who are successful without hitting the rewards lottery, there is work involved and the rewards are measured in single and double digit dollars the majority of the time.
Steemit also has transparency. You can see who is successful and what posts are successful by using the various steem tools.

Having said that, I have been burnt by one BTC mining scam already. That is why I never invest more than I can afford to lose overnight.

In all of life you live and learn. My advice is never to stop living and never to stop learning. If your gut indicates something is wrong, then maybe it is not for you. Everyone has instincts for a reason.

Steem on,
Mike

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1 vote

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martinwilson20 (47) · 8 years ago

I would say it's a scam if new users had to pay a fee to sign up

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theoretical (65) · 8 years ago

At the blockchain level, there is a fee for creating a new account.
That fee is currently 3 STEEM.
The steemit.com website pays the registration fee for most users. In practice, the fee only applies to experts who create an account by interfacing directly with the blockchain.
The fee is retained by the newly created account as its initial Steem Power balance.

Some questions for you to consider:

Is it a scam if new users are paid to sign up?
How do you keep an abuser from registering a million accounts without a fee? We can't do what most other sites do (e.g. rate limiting new account creation per IP address, email verification, CAPTCHA) because those techniques can't be done on a blockchain.

We've tried very hard to minimize the number of fees in the system.

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1 vote

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chaching (15) · 8 years ago

I paid $9.

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michaelx (61) · 8 years ago

You paid $9 for training and mentoring and the rest. You did not pay $9 for a steemit account, that is 100% clear to anyone caring to actually read what they buy before during and after.

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1 vote

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chaching (15) · 8 years ago

Thanks.

Your reply prompted me to find out more and I found the difference between the steemit service and steemcash here: https://steemit.com/introduceyourself/@marklyford/the-truth-about-mark-lyford-and-banx

Thanks.

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theoretical (65) · 8 years ago

Let's ask the blockchain.

>>> get_account_history chaching 0 0
#     BLOCK #    TRX ID          OPERATION            DETAILS                                           
-------------------------------------------------------------------------------
0     3913394    0eaf6c4ecef6ee17e8e5b0b43773f4f1c1f8ced6 account_create       {"fee":"3.000 STEEM","creator":"steem","new_account_name":"chaching",...}

According to the blockchain, your account was created by the steemit.com faucet (aka @steem). Most user accounts are created by @steem.

The Wallet tab of your account is empty, except for 3.079 STEEM Power.

There's no record of any such payment anywhere in your account activity. Can you give some more details about this $9 payment -- what webpage instructed you to pay $9, and how did you actually make the payment (Steem, bitcoins, credit card, etc.)?

You can email contact at sign steemit.com if you don't want to discuss this publicly.

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1 vote

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macksby (73) · 8 years ago

Holy Crap -- I remember getting emails from the guy in the video Joe Vitale years ago... I had no idea he went to jail. All you can do is your "due diligence" before jumping into anything. Thanks for the post and video!

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chaching (15) · 8 years ago

You are welcome.

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