Topic: Steem pyramid scheme revealed - page 4. (Read 107034 times)

I have heard and read so much disturbing stuff about the whaling in Steemit, that no new facts can surprise me.
The question is, whether this is just a small game on a low level, compared to the really useful platform for users they are creating.
If they create something better than facebook, who cares if they split some millions. 

I think in my own opinion there is nothing hidden under the sun. If the information you have giving us is true we will all know about it in the nearest future. But one thing I know about Steemit is that it's helping me do my blogging

There are many people that are angry with steem because they feel that steem is not being fair, but that may end up with the whole project failing like many others before if they don´t act.

I am not interested in this story and I believe there are worse things that we can't see yet in crypto. May LBRY Credits also do the same pyramid scheme?

In my opinion it will have a bright future even could also be the second crypto currency market capitalized.

In my opinion you can´t compare facebook and steemit, is is 2 different platforms.
For me steemit is more blogging platform, and after Medium blocked all crypto reviews, project (some kind of crypto commercials) Steemit became a powerfull crypto tool.
I agree there are a lot or crypto garbage and other shitposts. But, if you compare it to facebook it will be thousands times less.

Resume: I still prefer Steemit!

Hello everybody. Who has a Steemit account? I try to write interesting articles, but it's very difficult to get through between the popular articles. If it's not difficult for you, could you rate my last article? https://steemit.com/qurrex/@misterpipka/new-promising-company-qurrex

The Larimers and their associates are pimps 2.0 pure and simple.  They are making money by promoting (aka upvoting) this trash to entice the weak-minded morons to come see their prostitutes.  All the while they are dumping their Steem Dollars into the market which is propped up by these same weak-minded suckers who are buying in.  Once the Larimers use these "girls" to work over the saps, they'll leave with their real money BTC/USD and the "girls" and suckers will be left with worthless "Steem Dollars" which can't even be cashed out for two years.

Given that Facebook is looking to potentially acquire an existing token technology, one might presume that there will be pump in the value of STEEM
given it is the most established social network and token on a blockchain at this time.

Could a buyout be coming? That speculation may possibly be enough of an excuse for a pump?

https://cointelegraph.com/news/facebook-exploring-making-its-own-cryptocurrency-media-report

https://www.theverge.com/2018/5/11/17344318/facebook-cryptocurrency-token-blockchain-report-david-marcus


Actually SBD only pay interest when the value of SBD is near to or slightly less than $1, so currently they're not paying any interest.

I find the Steem Dollar with the 9% interest rate pretty interesting though, it definitely has a risk as everything else but it's hard to find a similar option that pays you that well, I would say lending in Poloniex but you would be exposed to the volatility of each currency.

isn't it a more or less general law ?

I think that this may be one of the problems why people get upset with steem they just dont get how it works... The problem arises when those that dont get it start to shout how bad it is

To the extent there is a luck component based on what happens to be seen and what isn't, that will cancel out. Smarter voters will do better.

To tell if this a crypto-circle jerk or not, look at the number of women's articles being posted--this should also indicate how many women are staying--does the front page look like cosmo, a tech magazine, facebook, or a news feed? To me it looks like a little bit of everything--a little bit of a sausage fest, but who knows how many bloggers are playing modern day Robin Hood in the George Eliot manner (JK Rowling for the modern reader).

Or convince speculators to speculate that investors will buy STEEM for their sockpuppets to pay themselves a 4% per month compounded interest rate on top of the appreciation of the STEEM which might be going up to $15 this year.
However, it could also go to $0. That is speculation.

It’s sort of like an investment game.
Monopoly for the Internet.
And it’s real money at stake!


4% compounded monthly is +60% more STEEM per year.

The site is also effective as a money laundering tool because in theory the rewards don't come from the voter but rather from the blockchain which mints them.
There's no direct transfer of rewards.
Money laundering is a YUGE industry!

Summary
So, we've seen that very few people - devs and early birds - hold most of the "Steem wealth" (top of the pyramid).
We've estabilished that the top wealthy users receive most of the newly generated wealth without contributing any kind of value. In order to cash out these tokens, they must convince new users to invest in the platform.

Didn't I already tell you they only have 60,000 active users of which less than 10,000 may be real users and not bots.
And of those 10,000 maybe less than 1,000 that are not from India or other impoverished country.

What are advertisers going to sell from that traffic?

 
What can a fork accomplish that is different from the status quo if the underlying reward system encourages all users to abuse it (or be abused by it)
and can’t be fixed as you seemed to agree more or less with @anonymint recently in some comments recorded at Steemit which I previously linked to?

I guess they could remove the downvote feature so at least it is more difficult to cause content to be censored
although busy.org already seems to not hide entire blogs due to flagging.

I suppose users still have some protections there against censorship by mods that they don’t have here,
as evident by the fact that @anonymint doesn’t post here any more (at least not with his own account) and he instead posts at Steemit.


 

The masses care about the site being actually used and interesting and not just sockpuppets of the whales spamming the site in order to generate rewards from voting minted from the collective money supply.

There’s very few actual users on Steem.
It is a steady supply of people who signup and quit because they can’t earn anything and there’s no real interaction going on.
In 2 years, the active usership has grown only to 60,000, but only a few 1000s or less are actual unique human users who have been on the site for a significant amount of time.

Steem is not innovating on features that could drive the masses to want to use it.


Their Dtube/Dlive video apps have no possibility of wide-scale adoption because of the hen-egg critical mass dilemma
(and because Steem’s design doesn’t pay serving nodes for the bandwidth costs):

https://medium.com/vidme/goodbye-for-now-120b40becafa

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Here is why:

I agree that we (Western nerds) want to support a platform that stores content on a blockchain which no one can control, but did you know that a few guys control the Steem blockchain? Details matter. And the masses probably don't care about this aspect.

it is interesting, why steemit dont use advertising selling on steemit platform? it can interested a lot of investors. Also it will help to support sbd withou steem dump.

Why not?