Emailed yr main post to a friend (a video film maker) who needs to join steemit, as it's the clearest fastest expo of the group and its potential for which I and many others thank you.

Warren B would cut to the chase and see two things: a pyramid with wealth and power accruing to a limited few at the top from a complex masterfully contrived and executed Ponzi scheme which generates its own wealth within its own activity as it produces nothing (to date) of any commercial value to sell to third parties.

That it directly benefits its contributors for now is without doubt. Steemit is literally keeping tens of thousands of members in developing countries from very hard times. For them alone (and many more who will join) it must not be allowed to fail.

Once currency speculators and traders move in the value will take off. If it gets pumped & dumped a lot of innocents will suffer. Mechanisms are in place to reduce wild market swings. But a serious economic downturn (many are already fearing is on the horizon) would draw scared money out as fast as it can be taken, and dampen future organic growth

If you had $1000 to invest in Steemit or Canadian potstocks you would buy into Steemit first. And find another grand somewhere later for the canuck hemp farmers