Topic: Steem pyramid scheme revealed - page 12. (Read 107069 times)

I've more than made my money back as I've gotten lucky and had two $100+ posts. So I'll just ride the wave while it lasts.

That's funny because I started out from 0 and still managed to earn money there.

You can always substitute "connections" with hard work. The question is are people determined enough to work hard to build their career, or are they lazy crybabies?

cause they just write for money.
build followers, a community, and write great things..you will make a lot of money.

Steem is never for minnows and never will be. If you don't have power and connections you can't earn anything other than chewing gum money. It's not surprising because system works like that. You better find better things to earn money, rather than wasting time to collect dust from Steem.

I'm unsure, but have heard several people say writing the steemit articles isn't really worth their time? i.e not earning them much.
Is it the way they write articles, is it worth it for the average person?

Ops i think you point out every aspect of the system... there a lot of ponzi on this day and there just freaking changing there name even in the investor section there are alot of them posting some thread... i saw one pyramid scheme company from malaysia and they are saying the company is a multi million company as they are expanding to US, korea singapore china philippines and indonesia the company are sayingnthat they are listed to nasdaq but as i check they are just gathering the requirements . I will not mention that company as they are not in this forum and other site. There method are p2p

Steemit still growing yes, but too many fake profiles in steemit now

Alexa is not a reliable source as it can be easy manipulated via spending few bucks....

(generally talking: not telling that steem doesn't have a honest alexa rank, tho)

Alexa rank can be very misleading info....

yes please, leave steemit, let us earn more

Do you realize that lower numbers on alexa are better?

Or that STEEM is close to an all time high market cap (lower than recent high but about the same as the peak last year)?

I'm no fanboy of the devs of this project and I think they do some truly retarded things with alarming frequency. Still, the drive-by FUD on this thread is absurdly uninformed and useless.

It is a pity about steem, but yes it going down. I was there when all started, and when i understand that everything depends from whales - i left this project. But yes, some people earn occasionally great money.

But idea is great, just not fully disclosed. Hope in future we will see more reliable project.

I checked at alexa.com

http://www.alexa.com/siteinfo/steemit.com

Global rank 2,896
Rank in United States 1,401

Last year around the same time, it wasn't even in top10.000.

It's growing alright...

The Steemit crash is coming soon. New users and minnows (those with very little Steem Power) will start leaving as it is almost impossible to earn rewards posting now. Not only is there "circle jerk" behavior as described above where whales and dolphins upvote themselves and their own circle (some have alts and vote their alts), but there are now over 14k posts per day on Steemit. The true believers say that is a sign of mass adoption, but the reality is that each of those 14k posts is fighting for upvotes and rewards.

Your post scrolls off the #tags so fast that unless you already have thousands of followers, it's near impossible to get noticed. You have to be really lucky and get upvoted by a whale, or take the full plunge and invest several thousand (or tens of thousands) and comment spam/engage with the community all day to build up a following.

The average new account will give up. If the new users are not buying steem on the exchanges to power up their accounts, there will be decreasing new money flowing into steem. Already you are seeing lots of posts from frustrated users who can't buy a vote (symbolism intended). While Steemit isn't an outright Ponzi or pyramid scheme because of the blockchain/currency/platform elements which can be monetized, Steemit does share the same characteristics of a Ponzi and pyramid scheme:

1. Early adopters make $ on the backs of later adopters

2. Participation must show continued growth forever - as soon as it slows, the death spiral begins

I am a miner.  I am an investor in steem on the markets and I also have a steemit account.  So actually I do all three.  I personally have spent 10 times more time setting up and configuring my mining more than the other two options.  I used my profits from mining to invest in steem and other coins.

I like the idea of steem but it seems like a scam to me.  I have posted a few blogs and the quality of the blogs is very high and information heavy compared to other blogs about similar things which appear to be regurgitated rubbish copy and pasted from somewhere with outdated information but some kind of circle jerk has gone on and they have earned like $800-$1500 for garbage while my one has barely got any looks.  I posted as an experiment.  The model useful I agree.  Paying users get more coverage and can be found easier.  I like this part of it, but it doesn't explain where the money comes from because paying users are the ones that get all the revenue.

You are basically saying miners and their costs don't matter and that they should just give that profit they earned with their time and money to people that have steem locked in for free.  Because the way I see it the money doesn't add up.  For a coin to be successful the money has to come from somewhere.  It is user pays.  It would make sense to me if a user of steemit had to pay to use the service to get coverage but the current model allows steemit users that are powered up to make a ROI in a very short amount of time just buy paying themselves and other hopefully getting a small following.  The more you have the more you get back right down to the users that have not much,  I havn't been able to work out hte numbers as the system is so flawed but it seems to me users that are at minimum in the lower 50% of powered up users are supporting anyone above.  The lower you go the less you get.  This is exactly a pyramid scheme.  It has nothing to do with the quality of your blogs

It appears that you are a miner from your post history. It appears that you believe that generating coins because you are running a CPU/GPU/ASIC is legit and that you are not "stealing" from investors. However, it appears that you believe people generating coins by posting/curating/running a witness node is not legit. That it is "stealing" from the investors.
Furthermore, it appears that you do not believe people should be rewarded for coming up with a good idea and implementing it. This is also "stealing." Guess Bill Gates is the biggest "thief" of all then.  
I realize that running a mining rig involves investing into equipment and electricity. However, posting involves someone's time and effort, and even pushing buttons requires work.  Moreover, being a witness involves both time and expense. Furthermore, people who are willing to lock up more of their investment in Steem Power, should be able to earn more. They had ample opportunity to dump, yet they didn't.  
By the way, the initial coins generated from Steem were generated by mining including the coins the founders own. It was called the sneaky mine because no clear instruction were given on how to do it. But those who figured it out got richly rewarded.

Thank you for this thread.

I was thinking about investing in Steem as it looks good. I mean it is a excellent idea.  I thought the model they adopted was invested that locked in steem generated steem power kind of like interest and you could give that away or keep it and turn it into money.  But apparantly not,  you just click buttons and it gives you and others money created out of thin air,  basically created by investors.  So I am thinking as long as it slowly grows it can be kept alive,  but eventually everyone will catch on and there will be a cascading failure and it will all fall down that is what my initial thoughts were.


My next thoughts were you actually can make money if you are on there and you have a large amount locked in and you have good content and you have followers.   THIS PART IS REAL.  But again you are just stealing form investors or those people that try to get in and are paid less because you have more steem.  Or those that invest in the market.

I CANT FIND ANY info on where money comes from.  Every time you ask you are told to do you research or read the whitepaper which doesn't explain it.

To learn they are selling out when prices go up is really the final nail for me.  Unless someone can actually explain something I am missing this is a fucking pyrimad/ponzi scheme scam and the Devs are stealing money.

what about long term? ( let's say 1 year).
what will be the worst scenario? steemit.com can close and steal all money?
steem price can go down?

perfectly legit
Vote me for witness
https://steemit.com/witness-category/@proctologic/proctologic-witness-update-2017-06-05
Type proctologic at the bottom of the page and then click vote. (https://steemit.com/~witnesses)

Steemit can make it if there is a merger or something. But the reward system is far from fair. Some newbie made tons of money by post ridiculous quotes, painting etc.
I had a steem account and cashed it out. But investing? No way.

almost are pyramid style