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RE: For everyone still confused about how steemit generates value - Is it a ponzi scheme?
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.