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RE: Appropriate to Flag a Ponzi scheme?
The flag is not inherently evil...I think of it as a downvote instead. I don't know about whether or not the system promoted is or isn't a Ponzi, so I'd be inclined just to ignore it. Good luck with your decision.
Thanks for your reply!
It's definitely a Ponzi scheme. People out trolling for affiliate signups, give us your bitcoin and we'll give you a steady stream of income from it...
I can of course ignore it, but I thought part of the point here was for us to police ourselves a bit?
Ok, but (having spend the better part of 20 years earning a living through affiliate marketing) I can assure you that all such marketing is not "ponzi" related. My most successful earner was (and still is, 15 years later) an legitimate internet web hosting company. On a more significant plane, consider Melaleuca, which is has achieved massive success using a multi-level (MLM) affiliate marketing program, or, on an even more successful level, AMWAY. Affiliate marketing, in and of itself, is not indicative of a Ponzi scam.
Because those things you describe have an actual product to create value in the chain. Mary Kay cosmetics is another very legitimate MLM.
I don't disagree with you - but right now there are at least two bitcoin ponzi schemes and more will come. The difference is that these projects are 'Madoffing' - give us your coins and you will get more back - with no realistic plan how to do so.
I understand - but add that if you are convinced something is fraudulent, are you not bound to report the activity to the police? Compared to that, a Steemit Flag doesn't accomplish much.