Topic: Steem investors beware (Read 2198 times)

i think steem dev owner and founder strong team
is volume transaction in bitrex is high
only strong coin is can be accepted in bittrex

What I find amusing is that lots of newbie accounts rallied recently to call this a "scam", even a 2011 account with 3 total posts and only 2 hours online was "recruited" to the cause! This is geting hillarius!

I'm sorry kids, you will be vastly dissapointed! Your "Bitcoin is great and everything else is a scam" dogma is collapsing, coincidentally the price of bitcoin is collapsing too these days...

The only "valid concern" would be that price of STEEM perhaps is a bit too high right now and may drop in the future(maybe it doesn't and actually rise!) But noone really seems to care because everyone powers up for the 2 years period. I had some doubts before but the greater "scamer" here seems to be iamnotback and noone else. Cheers! 

That's just pathetic really. The circle jerk is complete.

I thought steemit is suppose to reward people when they post something good. How is this post any good to the community and its receiving $2700 already.

https://steemit.com/photography/@clayop/newport-beach-usa

This post has nothing special in it. Its just a picture of at a beach. Anyone can take a picture at a beach. It sucks that the whales are just upvoting their own friends and the rest of the people that are posting good content are getting only few cents if lucky.

This whole thread can be reduced down to one statement: The Larimers are the parasites of the crypto world.

If you're involved in one of their "projects" and you don't think you've been scammed yet, either you have, but you haven't realized it yet, or it's coming.

Not much.

It is even 1/100th of Ello and Tsu's peak rate of signups and both of those died.


It has the potential to reflect very badly on Bitcoin, blockchains, and crypto-currency. Especially later when it becomes common knowledge that it was 80 - 90% premined and the whales were cashing out from the beginning, while the n00bs were fooled.

Nevertheless any news (even bad news) is probably promotion to the masses, yet if the masses are always hearing about the problems (theft, scams, etc) they might become callous and calcified against our sector.


Yesterday I wrote that everyone should be selling ETH and buying ETC. I see -6% on ETH and +18% on ETC since I wrote that.

Bitcoin holders will still determine the investment of altcoins. ETC wins because it is favored by Bitcoin investors who disagree with forking to change the rules ex post facto to bail out those who don't like the rules after the fact. And because ETC is the undervalued of the two (and speculators want quick gains). Period.

Steem has no medium-term investment case, because if you hold liquid STEEM then you are debased ~50% yearly, and if you power up to STEEM POWER then you are only debased ~5% yearly but then you are locked into a 1 year weighted average price cash out future.

And the long-term investment case for Steem is dubious.

steemoxxed?

Sure, I can only imagine the headlines "Bitcoin Social Media Platform scam 100k users". "A Bitcoin based social media platform called "Steemit".

I don't plan to buy a single one of those steem vest/power/dollar/what ever for now... just trying to make it work for a few cpucycles... however I don't agree with you bitcoin thesis... 0 risk. bitcoin has nothing to do with steem... what would be great is a steem clone with btc integrated and not a useless new chain...

You gotta give them credit that they definitely generated more interest in crypto that any other altcoin ever did (especially from women, something unheard of)...and I won't be making any scam or ponzi accusations in this post.

However I see that Steem is the real key here, it's "where the money" comes from. There's a very small supply (with high inflation) because most is locked but who will keep buying steem besides speculators and investors? That can't be really sustainable. Whales and big dolphins already have enough and are generating SP just by sitting there or upvoting useless posts.

BTC fans are already aware of the dangers of the platform, so I don't really see them flocking in mass to buy Steem to power up (they are busy buying ETC). So I don't know how this will play out in the next upcoming months, the platform and userbase is definitely growing.

The bottomline line, if this turned out to be a complete fiasco and disaster, Bitcoin will face the heat, I can guarantee you that right now.

Other "smart" people who are buying STEEM and powering up to lock themselves into SP for the 1 year weighted average price exit:

https://steemit.com/steem/@pfunk/meet-laonie-and-6-other-steem-superheroes-powering-up-this-week

Steem's attrition data seems to confirm it will implode:

https://bitcointalksearch.org/topic/m.15781779

It's not an easy task, indeed. But if the service is sustainable and solves real problems, there will be interest. Good luck.

I assume there are others working on Steem competitors.

Well I am not going to stand idly and wait for that to happen. I am doing my best to try to release a competitor asap in order to accelerate the implosion of Steem, and replace it with something that is sustainable and good of us.

I worked out much of the design already in my head. I am exhausted right now (age 51!) from an intense, nonstop 3 hour gym workout (8am to 11am), so I will take a nap. Hopefully feel good later today and can begin coding.

I am not forking nor reusing any code from Graphene, Steem, nor Steemit. So I have no idea how long this will take. I'll see as I dive in.

Unless they bring something truly sustainable, it will implode.

I wouldn't be bragging about that... JL777 is a total nutcase.

It's a lot of money. I think it's result of the hype.

Steem makes Onecoin look legitimate.  The Onecoin scammers are amateurs compared to the Larimers and their backers.  Onecoin is going to have to step up its game if it's going to compete with Steem.  Seriously, the Larimers even steal from the mentally retarded.

A much better design would debase their holdings while most of it remained locked up for 104 weeks. Which is the design I intend to launch asap. Also their holdings shouldn't be 50% of the tokens.


It probably won't collapse until a kickass competitor is launched and the bag holders realize they are fucked. They will either remain in denial while it sinks or try to power down to head to the exits.


So the content is not controlled by any party (but for Steem that ideal is lost since the 50 whales control it via proof-of-stake).

lol what is the purpose of the blockchain in this case?