Is anyone here using steemit maybe? I've recently stumbled upon it and as much as I know it's a content sharing place where you can earn some money, yes? Can anyone tell me more about it, is it worth getting into, etc...
Some people say that they are making a substantial income using Steemit, others are a bit skeptical and consider it a pyramid scheme. I had joined it since it looked similar to Reddit, but never been active.
There are many well known revenue sharing/content monetization sites, but Steemit is the first where developers used their own token to monetize the content and this is where the working model of Steemit could be compared to a pyramid scheme.
Some industry experts question the need for a unique token specific to steem when bitcoin or ether could be used. Others point out that "steem might be a Ponzi scheme, predicting that the digital currency 'will grow and grow until there are no fresh users to suck in and then quickly collapse,' a situation he described as being 'the Ponzi way.'"
https://en.m.wikipedia.org/wiki/SteemitThe developer, upon realizing that he had lost some control of the supply, decided to re-launch STEEM to ensure that he alone had majority of supply (at least 75%+ of supply). As you can see the developer did everything possible to ensure almost complete centralization.
All content on Steemit is highly censored and centralized since the few actual users who own majority of the supply get to decide which posts make it to the front page and which posts get higher payouts.
Simplified overview of STEEM and Steemit.
1. Rig the distribution process so that you end up with almost all of the STEEM supply.
2.Create a platform that allows for the monetization of content.
3.Make sure certain users get extravagant payouts to lure in more users (the payout is a tiny fraction when compared to how much STEEM you and your friends own).
4. As more people are lured in, STEEM becomes more ‘valuable’, resulting in those who own majority of the supply getting rich along with the select few they choose.
https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156https://bitcointalksearch.org/topic/steem-pyramid-scheme-revealed-1558366https://bitcointalksearch.org/topic/annsteempow-no-ipo-no-premine-no-instamine-relaunch-1410943I am not saying Steemit is scam. I guess you will be able to earn a few cents, may be more if you post quality content, but still I do not agree with the revenue sharing model of Steemit.