First of all, Steemit can print more Steemit coins anytime they wish. This makes Steemit a semi Venezuela government model where when you need more cash, HEY, just print more up.
This cannot be very good. Also, I have ntoiced that very-very few people actually have high votes and high money earned in Steemit. This is another large red flag. I have watched it fall from its high to $2.09. My friends in the digital currency world have all say BUY - BUY - BUY....so I studied this even more. I say SELL - SELL - SELL, and this house of cards if about to come falling down hard and fast. At $2.09, people are going to wish they had sold.
As a former financial analyst that has been in Steemit to try it, I must say there are many flaws in this model. If Steemit was a real digital currency community as described, then why cannot a person purchase Steemit with a credit card or to trasnsfer dollars in to but the digital currency. No? That is because Steemit is collecting your Bitcoins themselves, that has a fixed number of Bitcoins issued and giving you Steemit currency they create out of thin air.
I am finding more and small groups making up business models with new digital currencies to get you to buy Bitcoin which increases the demand for Bitcoin and then they hang onto Bitcoin which reduces the supply. To get more of your Bitcoins, they print more Steemit coins to sell you, for your Bitcoins. Do you see where all this is heading?
I question just how many people are really earning $1,500 per article they are writing as compared to a computer program that is auto voting certain accounts to make it look like there are many voters when there is not? Maybe not....but it makes you wonder. I see how many articles that are good that have no real money at all, and many crappy articles that have $2,000? Really? Hummmmm....
Hello? Steemit currency is going to CRASH hard soon....it is being sold as a free market business model. But really? It is more like a digital socialist model where the top 1% make all the coin while the lower 99%, like with all other Socialist and Marxist models, remain equally poor.....think about it....under their current business model this currency is going to CRASH....they have to change it fast or they face a meltdown soon.
If you enjoyed this post please Upvote, Resteem and Follow me @michaelpinson for more articles.
I upvoted you because I don't agree with flagging in order to hide an opinion. You raise some valid concerns and you should at least get some rational answers.
None of your flaggers provided any arguments. Just ad hominems. Heck, that even makes the platform look even more suspicious. I would advice people to think before they act.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
not everybody is like that. I tried to rectify the situation a bit. I will see if i can do something else.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You are just spreading FUD. But hey you are free to post whateveer you like.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Damn 30 years experience in this market! Time must move really really slow for you!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's one thing to claim that the business model is flawed...it's another thing to claim that there is fraud as your post implies. For that you need proof not just asumptions.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah. People can earn big if there's people with huge steem power, otherwise there are many great articles that don't get what they deserve.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
This is really a great post but you made a mistake at the end. It sounds really counterproductive if you are like it can't be true it's this and that but at the end you say follow me, resteem and upvote ???
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Michael i don't want to spend more words on this because every clever person could know that all of this coins are made of thin air and some computing. you are right that it costs 3 times or more of different fees to get some Steem and Steem power. And i have seen some videos of the founders of this coin and it made me laugh:p But that isn't the reason i am on this platform. I see that it's a wonderful media and i want to contribute my own thing. I have seen a lot of this world and i have done so much activities to help the needed one. if you like to know me better follow me to see my blogs.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You, sir, are an idiot.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Don't tell me what to do,
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The payout imbalance is due to the fact that whale votes count for far more than minnow votes. Technically, this is to reward the main investors. In all honesty with your use of 'print' in relation to cryptocurrency, it is quite difficult to legitimately follow your train of thought.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You know man, I was born in the Soviet Union. Everyone thought all these things. There were a lot of things that were known and thought. Thinking was rampant. But no one ever opened their mouth because everyone knew that the distribution of power was unequal and they would quickly get disappeared and by opening their mouth in the first place, there was no changing anything. The bread line would still be just as long.
But look at Steemit from a different perspective. While it's a community it's also a business in a way. It has investors. These investors put in their time at inception, were allocated something or rather for whatever reason at inception, or put in their money at inception. Same as any business, they now have controlling shares. Just like the guys who invested in Apple back when. There's no freebies in investment; the guy who just signed up and invested nothing will not get a controlling share.
That aside, the whales will have to do a massive dump for Steem to crash. With the current model of Steemit, that will take quite a while. Steem thus cannot possibly crash overnight. If there's a downtrend, then we'll see it coming. For now it's a pretty solid platform.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steemit is private property, it's not a country. Freedom of speech has nothing to do with it.
So which alt coin do you recommend then?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Steemit promotes original content with credit given where it's not so original. Free speech has nothing to do with it.
What about making money on the way down?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
SInce I posted an article why STEEM price would fall (from $2.09)...several Bullies have called it FUD which is childish BS.....now this guy below is flagging every article that i have written about any topic, and stalking me. Is this how the Steemit Community wants to be managed? By THUGS controlling what you even say? That is not free speech...
Community Needs to Gang up and FLAG Everything "Bacchist" Has as a Thug and Bully....he is trying to beat up everyone who he disagrees with and he is flagging the same people over and over 24/7 like some nut case...
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit