Here's The Actual Proof Why Steemit is a Failcoin
Disclaimer to North Korean Leaders:
The amount of censorship on this "uncensored" platform is mind-boggling. (Go on, delete and censor all you want)
This post attempts to explain why I feel sorry for anyone stockpiling on a worthless pile of (probably some censored image for being non-pro-steemit, but it's actually an image of Steemit logo):
1. It's a praise and dump project. 100% unsustainable. As a naive investor, do you really think this site can go on just fine without any moderation of content originality/claim of copyright issues?
- Despite some content moderation, Amazon Kindle store already is a junkyard where new authors who make original content get suppressed by the jackasses who mix publicly available content into E-books.
- We already see the first signs of Steemit becoming a junkyard, if it already isn't one. Random re-posted content from Huffington Post and various other sources get to reap the benefits on a per-luck basis.
- Original content in niche topics mostly leaves the radar area with 0.00 or a few cents. That does not happen because a post is not useful - it may even have 25 up votes or so. But who cares. Around here, all profits must first be approved by a reputable board of North Korean whales. Or by an imbecile-whale who up votes anything slightly cannabis-related.
2. Even if Taylor Swift joins the platform and brings in a million members, the upvotes from her non-stockpiling followers cost 0.0000 after the initial "signup bonus upvote" is used.
- I don't have a million followers (only have around 300 active), but I'd rather retain the trust instead of swapping it for some failcoins that have no more intrinsic value than Bitfinex tokens.
- Anyone sensible who has respect towards their customer base does not dump a follower into a pyramid scheme to gain the 7 bucks of failcoin.
3. "Yo bro.. it's decentralized project on a block-chain.. they can't do shit about it. We're immortal, kinda like Bittorrent".
- Do you know how many spin-offs of Kickass Torrents or The Pirate Bay are out there? - Tons. And why's that? Because unlike Steemit, these sites will raise like a phoenix and live on even after a DNS ban on the ISP level. They are resilient because of the quality of content. Looking for a new link to your favorite torrent site is worth the effort because it will possibly save thousands of dollars per year.
- Would you mind doing the same just to read a blog post? Perhaps some will. As an author, would you mind updating broken reference links after the inevitable DNS-bans? Perhaps some will.
Still not convinced Steemit is a failcoin?
- There's a lot of genius in you. Go on, go all-in. Put your savings in Steemit and you probably will become a millionaire in no time. Before you leave, go get some OneCoin too, I heard this project makes millions too.
Want an upvote? :)
Please refrain from giving a down vote, the 0 vote works just fine. Give the +1 to an underage steemit-jailbait, or to the girl doing handbra :)
If you don't like it don't use it. Simple as. There's nobody here putting there life savings in the one coin. There's no harm in having your fingers in a load of pies at the one time. The more the merrier, one of them going to be tasty. Remember when you could buy 10 bitcoin for a dollar?Bubble or no bubble, scam or no scam, enjoy it while it lasts.
Fair points. This fiesta will last for several months until major legal issues. Perhaps something to keep in mind for those who are trying their luck with steems. While there are a plenty of naive fools around, there's a lot to be made.
Just as a side note, I like the phrase "shitcoin" you should copywrite it.