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RE: Steemit is Like a Bank Account, But More of a Treasure Chest - That's actually in Everyone's Best Interest
I have a problem with this, steem could be a ponzi scheme, how is my money protected. My 10k in the bank it is insured by the fdic, but there are no guarantee with steem, ur money could be gone website shutdown tomorrow, it already happen to some coin. So no im keep my $ in bank for now.
The fdic is an interesting component i had not considered. Thank you for bringing it to my attention. Brilliant business model from what i have briefly seen....buuut maybe not for much longer...
Can you elaborate for me on how "steem could be a ponzi scheme"?
ok i've looked a bit more into the fdic...my initially thinking of it being brilliant business model... was because it cons people into believing that all is good under the hood ....and that betting on the banks has been a traditionally very good strategy. So...that's worked pretty well.
The thing is...you funds aren't aren't really secure.
most recent article I looked at showcases this rather well. see it Here
The interesting thing with Steem is that it's utmost potential rests in the hands of people....meaning it's a point of consensus/agreement....so the real success of Steem is in people Valuing it. Which from my perspective has a pretty cool chance of happening because the setup is very accommodating. Steem blockchain is High Performance. See 'Graphene blockchains' for more details.
I really really appreciate your comment, as it is the criticisms/skepticism's that really challenge me in my thinking.
Steem On Brother!
there are a few coin just drop off the face of earth and website shutdown, most bank will insured ur money thru fdic under 250k, now with steem too many people take money out and not lot of whale, even whale will vote for their own post and comments to make money for themself. So its bleeding money left and right, more like new money pay for old investor. And u are lock in for 1 or 2 years if u choose steem power.
steem power lock in is 13 weeks.....and what that means...is that the steem is powered down weekly over 13 weeks. Which is a pretty cool approach when we consider how much this supports the network...and how much support we have for sharing our votes.
It's good to vote for ourselves and others....striking a balance is indeed key.
And it's a good thing that some whales have been powering down. Quite a noble thing really....as over time, this creates more market liquidity for new investors to get in on the action here. If no whales were powering down, that would be a serious problem
Steemit just turned one year old. It's a baby. The focus here is people and communication. The potential is massive. The future is determined by all of our participation here.
Trusting in our best potential is the key I am learning...as we all got it in us.
I've read a lot more about the fdic and it is an illusion of security....a real farce to the best interest of americans...much like the federal reserve.
Would love to hear your perspectives on The Creatures From Jekyll Island
Best regards