Is Steemit just an ordinary Ponzi Scheme?
High up in the pyramid.
Is Steemit just an ordinary ponzi scheme? Let’s examine. Back in the days without internet we already had what we call pyramid schemes. You paid an amount of money and as long enough people buy in for a period of time you would go up in the pyramid and was able to cash some money. Needless to say that the ones who came in last never saw a dime.
Sounds familiar?
Facebook Alternative?
Steemit is sold as the blockchain replacement of facebook. But is that really true? Everyone can see that the functionality of steemit and it’s layout is nowhere near that of facebook.
To whale or not to whale.
It is said that the owners and early adopters hold more than half of the steemit shares, what we refer to as whales.
They do not need to do anything because money is making it’s way up to these people. Because they have such power.
Quality Content.
Is it really about quality content? Let’s examine this as well. Without making any judgement calls or naming any names. I’ve seen people making 500 dollars for each article that they post. That in itself should be a warning sign. Because if this would really be about quality content prices on article should fluctuate way more.
You scratch my back and I scratch my back.
I’ve seen someone who writes restaurant reviews including some pictures. I probably could make such a post in 30 minutes. Do you really believe that such content is worth 500 dollars each time? Of Course not! The only reason those posts are worth 500 dollars is because we are talking about a whale.
It's about who you know not what you know.
And here we can see the biggest flaw. It is not about quality content, it is about the amount of steam power. And the ones that own a lot are cashing in. And the rest of us are picking up the crumbs and doing the hard work…
Let me know what you think in the comments.
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Don't say that, you are not stupid, you can spell and type fast, I am sure you have other good qualities too.
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I agree in the point that seems much more important the people that you know than the quality of the post or information you post. This is not good.
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