Ponzi schemes REQUIRE fresh, external capital to fuel the engine.
Steem requires NO external capital to function, though it would lower the value of the token over time due to inflation rates.
If someone can create an account, write something that people like, and receive liquid assets within 12 hours, that is the exact OPPOSITE of a ponzi scheme.
Ponzi's promise high returns, Steemit makes no promices of returns, it promices Steem and SBD but there are no guarantees that those are actually worth anything. Their value is driven by the utility of steemit.
I agree. Seems that anything anyone missed or is missing out on is called a Ponzi as a knee jerk reaction. I have heard bitcoin called a Ponzi a million times haha
Wrong. It is a Ponzi, as are ALL highly speculative startups these days. It's a sad reality.
Ponzi schemes REQUIRE fresh, external capital to fuel the engine.
Steem requires NO external capital to function, though it would lower the value of the token over time due to inflation rates.
If someone can create an account, write something that people like, and receive liquid assets within 12 hours, that is the exact OPPOSITE of a ponzi scheme.
Cheers and Upvote. Excellent reply!
Ponzi's promise high returns, Steemit makes no promices of returns, it promices Steem and SBD but there are no guarantees that those are actually worth anything. Their value is driven by the utility of steemit.
I agree. Seems that anything anyone missed or is missing out on is called a Ponzi as a knee jerk reaction. I have heard bitcoin called a Ponzi a million times haha