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RE: Is Bitcoin a Ponzi too? A Simple Explanation about Where Does Money Come From for Dummies

in #steemit • 8 years ago

A lot of stuffs are wrong:

  • they market steem as the next Reddit but the contents are "not used" outside of steem. So we are far from google linking our articles first
  • Incencitive: in the end you post for the (big fat) whales to get paid, not for the readers
  • You need to invest first to have voting power and have a real voice
    So let's see if I can hack this Pyramid for free :-p
8 years ago in #steemit by
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     8 years ago  

    They market steem as the next Reddit but the contents are "not used" outside of steem. So we are far from google linking our articles first

    Check out how much time it took Reddit to reach its current status. Reddit, after 4 months of its existence, was in a much worse position than Steem is now.

    Incencitive: in the end you post for the (big fat) whales to get paid, not for the readers

    Incorrect. The (big fat) whales can't be paid unless the the author gets paid. And the author gets paid significantly more (3 times more) than the whales.

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       8 years ago (edited) 

      edit for incorrect styling

      Check out how much time it took Reddit to reach its current status. Reddit, after 4 months of its existence, was in a much worse position than Steem is now.

      I don't think Reddit had a "working" example to copy. Steem has. So yeah I'm surprised they didn't push it further from the start. But you are right, let's wait and see.

      Incorrect. The (big fat) whales can't be paid unless the the author gets paid. And the author gets paid significantly more (3 times more) than the whales.

      My point was that you need votes to get paid, even a tiny amount. So people who want to get rich target the whales. Why not, but that a bad side-effect on the quality and diversity of the subject.

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