Why Steemit is not a Scam, Scheme, or Other Kind of Fraud
This is my attempt at explaining precisely and clearly why Steemit is not a scam, scheme, or fraud as so many naysayers and skeptics have been claiming.
In the video, I conduct a brief overview of Steemit, Explain proof of stake versus delegated proof of stake mining, and why the former is associated with scam coins. I explain how Steemit is not categorically the same thing as a pyramid or Ponzi scheme. I also briefly touch on the question of whether Steemit is sustainable, as well as clarify the intentions of its creators, Ned and Dan, as I perceive them.
However, I do not claim to be an expert on Steemit, but I feel like I have a strong grasp of the platform after doing ample research, which I invite all skeptics to do and consider.
My name is Sterlin. Follow me at @sterlinluxan and Psychologic-Anarchist. I also run the Psychologic-Anarchist Facebook page and produce YouTube videos. My interests lie in the intersection of counseling psychology and anarchism. I write about the depredations of psychiatry, and also the philosophy of compassionate anarchism.
If it's a scam it's the worst scam in history. They give you money to start then pay you to create and interact with new and interesting stories and make new connections. Bwa Ha Ha
If this is a scam what is Facebook? They have never paid me a cent then once I invited all my friends and built my business page they start to charge Me for them to see my content.
No damn kidding!
Absolutely. lol
It wouldn't make much sense not to wrangle all new users into investing some amount of money into it.
Indeed. I was going to discuss that point as well, but forgot. Nonetheless, I think I made a good case for why Steemit is not a scam based on the facts.
Some people don't like the lock up period in SP but there's no other better way to encourage long term growth of the platform. The key is to keep adding new users at a rapid rate and attract more and more quality content. The payouts should con't to attract more and more writers of all kinds.
Indeed. I don't mind the lock out personally. It makes sense from a tactical and economic standpoint. So long as liquid currency is still distributed at a fair rate, I don't see any issues. And you are right, more users will continue adding value to the platform. Well said, @hedge-x.
lol.
LOL
lol
Thank you, I've saved this link in my email drafts folder to have handy to send to others. Since I'm new, but can't stop talking about Steemit to others, this will come in VERY handy!
Thank you so much! I hope it works well to debunk the fraud myths regarding Steemit.
Sterlin, I really liked this vid. I can see you did some legwork, and you are technically not indolent or ignorant.
Thank you @littlescribe. Much appreciated.
Money and ponzi scheme are the same thing, because as soon as we choose to not share things for free and use money a minority will always have more than the majority and people with be exploited and lose out. But hay, Steemit is all good for me so far, so I have no complaints really :D
If I plant and harvest corn, I will always have more corn than those who don't plant and harvest corn (unless they steal it from me).
Corn can then be used as money by me to buy fish or shoes or services etc.
If I share my corn for free, the number of people who plant and harvest corn will diminish. Soon I will be surrounded by indolence.
Agree. Many systems are working in the Crypto space (not just Bitcoin) b/c if these systems align incentives the right outcomes will follow. These SD payouts will only attract more and more quality writers to the platform. Therefore, more quality content created, will equal more users longterm. Giving a higher and higher valuation to Steem.
that is not money, that is barter, and it is a closer version to simply just sharing or giving
ask yourself "why do I give free things to my family and freiends but not to others who may need them?" the answer is humans are predominantly selfish and hoard so some go without
the whole world is my family, is the correct perception, every being and everything, so if I produced food I would just share it with everyone I could
That is money in some societies. Money is simply the most marketable (widely accepted) commodity. There have been many societies where a measure of grain was money.
Money often in the past was silver or gold because they were the most widely marketable commodities and would be accepted for trade across wide areas.
money is a coin or paper representation of goods or services, once it becomes food it is just barter or sharing
and if I have too much grain don't share it to people who need to eat then I am just a demon
there are still some sane communities that just all work to make food and share it all, along with making clothes and shelter for each other
Great analogy it applies to building your own working capital.
It still could be. But if you're not investing money into it and earning your steem via curation/posts who really cares. You're only out what you never actually had. That's how I look at it.
That's the point, friend. It can't really be a scam if you are not required to invest money. But yeah, that fact does demonstrate that you don't really have to worry about it anyway.
Perfect explanation that every troll needs to listen to. Sad enough that there has to be an explanation for this!
Thank you so much for that @mrs.steemit. I put some legwork into this.
Appreciate your insights on why Steemit is not a scam. Now...I am looking forward to your take on "Is Steemit Sustainable?" I'm betting that it is!
Thanks a bunch! Maybe I will do a video on whether it is sustainable.
Will look forward to it if you do make the video. To me sustainability is the key question. I do have a gut feeling that this platform has lasting power to it.
So many trigger words in the title lol
I know right. lol
You can find posts of mine almost a month ago where I was tackling this same argument. I think we all go through this phase and try to explain it to people.
I said if it is a Ponzi scheme they are doing it totally wrong because I haven't had to spend a dime. :)
Nobody is required to buy anything . Just like with any venture there are no guarantees since nobody can predict the future.