Yeah...

I'm planning a post on Steemit at depth. The moral is that Steemit is actually buckling under its "success". That is, Steemit is actually here to earn money. So it's succeeded with the currency going so high.

Except that the side-effects of the currency skyrocketing is leading to grave issues for the social network side of Steemit, which I'm starting to believe is more of a marketing ploy, to the tune of, "Our cryptocurrency doesn't have value out of nowhere, it's actually backing something!" Except the relationship goes in the other direction, with rewards to work coming out of nowhere, and as such, aren't at all tied to the intrinsic value of said work either...

I put out this meme on Steemit the other day. I suspect it might've hit the point too close on the nose for people to laugh at, if they even got the reference.

Steemit is a place to earn money. And when you realize the goal is to earn money, "effort" and "hard work" and such only become relevant if you don't have other ways to get it done. And that brings us back to the meme, because this market is the same as the real life market - we're not equal here.