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RE: Is Steem a ponzi scheme? [repost, payout declined]

in #fight4steem7 years ago

self voting can not really be described as a ponzi scheme..... surly ?

and nether can people doing stupid SBD payout giveaways.
Why do you down vote that kind of thing?
What real harm do you see coming from it ?

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Did you read the article? Steem has market value only as long as people are buying it on a market. The presence of abusive harvesting through self-voting and giveaways doesn't make it a ponzi scheme. If these abuses become dominant then it will be a ponzi scheme. If investors keep cashing out payouts while no is creating value, then it's zero sum rather than positive sum: simple redistribution from late investors to early investors.