You are viewing a single comment's thread from:
RE: STEEM.GLOBAL Adds Referral Links, New STEEM Faucet Method & Chatroom!
You pay 1 STEEM for a month of 0.005 STEEM per an hour into your account.
Profit is made by the user. The deposit / fauceteer subscription is just to deter multi accounters.
So I pay 1 STEEM now and get 0.005 * 24 * 30 = 3.6 STEEM back ?
Usually on faucets you have to solve captchas and click some ad links and such ...
What would keep me from paying now and just waiting for 30 days to withdraw my 3.6 STEEM then ?
Note the lack of ads and captchas on site. :D
This isn't a normal faucet..! It's our own and it's different.
Is it perfect? No. Does it work half the time? Maybe!
This kinda sounds like a ponzi scheme, how can we be certain that we will get back our steem?
Basic math! I can understand how you may see a ponzi system at play here! The 1 STEEM 30-day Subscription fee is to ward off multi-accounters that threaten to drain the faucet the way it was set up previously.
A ponzi scheme takes the investments of others and pays out profit that way.. On STEEM.GLOBAL I'm paying out of my own pocket (or sometimes @pharesim's) and distributing it as a bonus to STEEM users in the know. You essentially will make a free 3.6 STEEM a month when you do the math.
On a side note, I run a decently ranked witness campaign here on STEEM meaning that I run one of the many servers that our blockchain exists on. Given the Delegated Proof of Stake system deployed by STEEM it would actually be the equivalent of shooting myself in the foot or cutting my own balls off if I ran off with the STEEM in the faucet, given I'll easily be far more wealthy, respected and prosperous by being a productive member of our ecosystem.
So far 20 users have become Fauceteers this month and I expect more will likely take the opportunity in the future. I appreciate the concern though, I didn't even really consider that people may believe it a ponzi until you mentioned it.
You can trust @klye - He's a trusted member and witness :)