For everyone still confused about how steemit generates value - Is it a ponzi scheme?
I'm going to skip the long winded answers about how STEEM, SBD and SP works. For beginners, these concepts are way too convoluted.
From the big picture perspective, here's how Steemit generates value.
- It's okay that Steemit creates STEEM tokens from thin air.
- Even if something is produced from thin air, it's still going to be finite. 999,999,999 might be a big number, but it's still finite.
- The value lies in its distribution. Through its complex mechanisms, Steemit has made an attempt to ensure that good content gets more STEEM and bad content won't get that much.
- The monetary value of STEEM is secured using the magic that is the blockchain.
So the answer is sitting right in front of your face.
The value generated by Steemit ultimately comes from the quality content its users produce
Since Steemit generates value in the form of content, it's not a ponzi scheme. There's no need to overthink this. Fin.
what is your problem... why flag it you... my sp is 810 check it mister
This comment has received a 0.12 % upvote from @speedvoter thanks to: @sorayakhatun.
https://steemit.com/@sorayakhatun/re-divyanthj-how-my-investing-strategy-would-differ-if-i-had-usd100k-vs-usd1m-20180419t002255163z
check it remove tha flag...
That was a useless comment.
There are steem board members to see it. Who do you see ?? And will I duplicate you and make the reproduction 0? What do you want me to do
This comment has received a 0.12 % upvote from @speedvoter thanks to: @sorayakhatun.
This comment has received a 0.12 % upvote from @speedvoter thanks to: @sorayakhatun.
I disagree. A person with much Steem can create a few lines of drivel . .. and post often upvoting themselves. I'm not naming names but, they know who they are.
A person can write for hours and receive 2 or three cents from people who use a fraction of their voting power. If they vote at all.
My proof . . . Memes make more money than articles.
H. G.
Nothing is 100% true. There are lot of instances where a genius programmer never gets a job while the guy from a coding bootcamp gets offers all over just because he has a blog somewhere. Yet, the general consensus is that good programmers are paid more than bad programmers.
Memes make more because most people enjoy them. They may not be valuable to you, but it's valuable to someone. Maybe some of them have gamed the system. But the consensus is that Steemit rewards quality and the evidence is that the eco-system is sustainable.
Value . . . Yes. Memes . . and bots. Like I said . .. I disagree.
Certainly seems that way to me.
Not to the memes being better, but to henry-grant who points out the work some put into posts and receive little or no attention or rewards.
It's kinda like saying that capitalism is a ponzi scheme. You are told that capitalism is based on supply and demand; and that if your skills or product is in demand and you can meet supply, you will be rewarded. But this isn't the reality. People should also know about your skills/product. It's normally done through advertising and marketing.
Steemit is kinda like that. Since it's a decentralized platform, it's kind of a free-for-all country. In such a free-for-all country, you need to secure your advantages first.
That is the very definition of a Ponzi scheme . . . The first have the advantage . . . they gained the most Steem at the lowest price . . . now they use it to advantage themselves, with upvotes and downvoting others. I was trying not to point out the similarities of Steem.it with Bitconnect . . . but, now, here we are.
No, a ponzi scheme is one that doesn't generate value - it only captures it. Steemit generates value by luring its users towards writing good content.
If you don't believe that steem is a Ponzi scheme . . . then, you should quit bringing it up... I don't care. This place is a rudderless ship . . the brains have long since left . . . and now EOS dwarfs Steem.it.
But, What ever. I try not to leave too much 'Value here.'
I recently wrote . . . that Steem.it seems to be a rudderless ship . . .
Followed.
Their distribution systems definitely are not stopping 3 line posters from making 1,000$ off less than 1000 upvotes. People with half a million delegated steem actually dont tend to produce the best content. Paid upvoters and those people that pay them need to be banned, the money they make is leeched from actual quality posters.
EOS . . . went from an Idea . . to over $11.00 because of the leadership of Dan Larimer. We have a leaderless platform. I'm going to follow Dan.
That's definitely true. Also, even if it doesn't make money for newbies, the UI is nice and easy to use. The font looks crisp and the blog posts are pleasant to look at. I really wish it had a better leader.
I also believe there is a lot of potential in steem, and a strong team would moon the platform
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