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RE: Steemit is Bitcoin's Killer App | Evidence, Numbers, & Analysis

in #bitcoin • 8 years ago

I think Steemit is amazing but is there any chance, as happened with BTC in the early days, that it gets described as a Ponzi scheme?

8 years ago in #bitcoin by
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     8 years ago  

    Yes. And those pieces on Bitcoin were stupid and misunderstood what a ponzi is. Network effects DO NOT equal ponzi. But network effects define value in a hyper-connected world. Facebook, Uber, Google, eBay, Microsoft are all businesses that are built on network effects.