Jeff just really hates Steem for some reason(s).
You want to know why I hate Steem? Is it because I'm tired of seeing steemit links to blogs with just pennies in payment? Is it because quality plays a minimal factor in success of posts and authors? Is it because it is a blatant scam and bound to fail eventually? No. These are all reasons to dislike Steemit, but not why I hate it.
I've been involved in the crypto scene for a long time. For years, the general perception of Bitcoin was it was just another scam, a Ponzi. Over time, this perception has changed. Way back when, the idea that public would adopt crypto seemed like a shot in the dark. Every day, however, more and more people are looking into cryptocurrency seriously. The fabled "mass adoption" is still very far away, but it's also closer than it was before. Why? Because the community as a whole is working to shed the negative image that much of the public sees Bitcoin and crypto with.
Don't get me wrong, I'm all for pump and dumps and other scamcoins. I make my Bitcoin trading shitcoins. I go on Yobit every day and I buy and sell coins I know have absolutely no purpose. I invest in ICOs knowing that the people who buy in after me are going to lose money. So what's the difference between a scam like Steem and a scam like the shitcoins I encourage?
Steem, like PayCoin, OneCoin, and other awful, awful past crypto scams, pray on the general public. When someone makes a shitcoin to list on Yobit, that's fine, because everyone involved is gambling against each other, they know what they are getting in to. But Steem doesn't do that. As many have mentioned, the BCT thread, twitter account, and other forms of common exposure are very small for the size of the coin. People are being manipulated into joining this system outside of the crypto community. Someone said their mom started using Steemit. This is absolutely unacceptable, because these unknowing individuals are wasting their time and money to contribute to a massive scheme.
It's counterintuitive to the positive image the crypto community has been trying to build for years. What do you think would happen if, rather than in a few weeks (which will probably be the case), Steem keeps growing at the same unsustainable rate for a few months? What if it doesn't finally collapse until hundreds of thousands of people buy in? That would be fucking awesome for you and others who are fully into it right now, but what about the rest of the crypto community? What about the long term? Steemit can kill the trust the public has in cryptocurrency, the trust that is an absolute requirement for "the moon", or whatever you want to call a prosperous future for all of us.
Steem is a scam, and every member in this forum worth their salt either recognizes it or is benefiting from it.
With all due respect, I think you are smart enough to understand how big of a hypocrite you are being. I hardly think this post warrants a response, but I'll bite.
Who do you think loses the most in the pump and dumps and scam coins you promote and profit off of? New people to the cryptocurrency community who are inexperienced. You are preying on the general public you claim to care so much about. Enough with the "holier than thou" attitude.
New comers are not speculating by buying Steem any more so than any other pump and dump or scam coin that you apparently champion. Most are earning their way in by simply spending time posting and curating content. "Blogging is the new mining". It is simply a new and different distribution method rather than the same old PoW, giveaway, or ICO. If you think it is too hard to earn money that way then move along, that means more rewards for the rest of us, but don't for a second delude yourself into thinking you are better than any of us.
