Steemit is kind of like a ponzi but less scammy. At some point, when the whales start cashing out, the value of Steem will tank (just like a run on the bank scenario with MLM's, or perhaps upcoming with Tether).
you do understand that this applies to all cryptocoins? The difference with steemit is that it takes 12 weeks for a whale to fully power down, so an immediate dump is more difficult to happen.
I'd watch the # of new accounts being registered. When they start drying up, that's when you'll need to be first to the exists.
You do understand that this is not going to happen anytime soon? Steemit as a site keeps going up, just look at alexa rank
https://www.alexa.com/siteinfo/steemit.comIt was #999 about a week ago, now it's 967. Not to mention other indepedent sites running on STEEM, like utopian.io, d.tube, d.sound, d.live, d.mania and more. Numbers will probably explode even more when communities and SMTs are released.
Here's the alexarank of utopian-io, it looks quite promising:
https://www.alexa.com/siteinfo/utopian.ioAnd big youtubers like @furiouspete and @tjkirk with millions of subs have joined d.tube recently, probably there are more to follow!
The easy days of a few $100 per post are gone unless you buy Steem power, but for that investment, might as well pick an alt or two.
Yeah true, if you are not a whale the easy days of making 100 $ for reposting a meme from reddit are gone. Try posting something good for a change, you might be surprised
TL;DR, you have no idea what you are talking about