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RE: Have the payouts on Steemit turned into a mass circle jerk?
Great post - I finally read it when all the comments here stopped popping up, have commented on it and followed you now:
Very good points - up until now I didn't give this stuff too much thought, but lately it's been really obvious that factors other than content quality are determining most of the cash flow.
I'm a big fan of Steemit, and will ride it out, but I can see a lot of people will get discouraged.
For me the other big factor has been that what I've learned here about cryptocurrencies has been far more profitable than the payouts!
Right now, with the higher price of Steem, there are many people posting anything, from anywhere, trying to get rich quick. The truth is that Steem will eventually devalue (unless there is more ransomware on its way, which needs laundering) and all of these copy-paste folk will eventually leave, which is what happened after the initial hype last year. We really need to downvote any content with non-original content, so actual content creators get noticed and paid better. And having exclusive content will keep the price of Steem higher than with copy pasted copyright infringing materials.
Followed you, myself - have a good day!