Despite becoming the third most popular digital currency by market capitalization, market remains skeptical. Nevertheless, steem was able to surpass $400 million this month, still reaching significant attention of traders.
Users are still able to obtain the digital currency by publishing some content on social media platform named Steemit. If they publish popular content, measured through upvotes, they get tokens for the digital currency.
Some market observers expressed their worries that steem might be only another Ponzi scheme. Kong Gao, a marketing manager for bitcoin trader Richfund, provided his concerns about steem. “Most of the articles on Steemit are promoting steem, which makes it seem like a variation of a Ponzi scheme. It is the same group of people behind Bitshares. I don’t think it is sustainable and I don’t take it seriously. I’ve also spoken with a couple of serious altcoin traders in China” and they have their doubts as well.
Due to such criticism, creators of Steemit have responded through the creation of certain safeguards into the system to provide users with greater incentive to hold on to their steem tokens, like Steem Power.
Full article: http://www.goforex.eu/steem-3rd-popular-digital-currency-ponzi-scheme/
This is not your original work, and you failed to cite the source. That is called plagiarism and it is highly frowned upon in this community.
If Steemit is a Ponzi, then Bitcoin is aswell.
The reason for this is simple:
Easy as that.
Tell me, which one of both has more potential to go mainstream?
The title is too pointy. and the source is listed, other than that i think the article is alright!
Steemit is another TSU, it wont last. Only a handful of Steemit users actually earn anything. If it sounds to good to be true, it probably is. People are flocking here right now in hopes of making a fast buck, but very few earn much of anything. For every post that earns $5.00, there’s 3,000 more posts than earn 5 cents or less. Just look at the profiles.
When you first enter the site, they make it appear as if it were a gold mine by throwing the top earning posts in your face. Notice there isnt many of them, just what’s shown on the front page. Scroll down and everyone’s earnings drop to nothing.
To make matters worse, the platform can’t seem to explain how and where it earns it revenue, other than investments in Steem currency, which is essentially gambling. They have no viable revenue model, and the money they paid out so far came directly from investors. Their money is running out.
I have just joined the community and my first impression is that all the spammy looking posts are getting the most $$. Is this another way to make some quick bucks (before getting busted) by posting adult-oriented and get-rich-quick content?