Okay so a blog will get a lot of votes from whales (original founders, major investors whose votes provide bloggers with substantial money) such as for example, the first tutorial on makeup blog. The idea being, whales voting for this blog (and the blogger therefore getting lots of money for that blog), are in effect telling content providers - blog writers, what type of content they want to see on Steemit.
So what will happen is new people will come on here, see the makeup blog that's made, write their own make-up blogs, thinking that that is what will make them money (after all the whales voted for the first makeup blog). And guess what their make-up blogs will make $0.00 .
So when you break it down, the only people on here making big money are either those that write posts that the whales deem as being good content on Steemit, such as the first make-up blog, or those that have a very large folowing of people that they bring to Steemit, and have follow the, upvote their blogs.
So in a strange sort of way Steemit, as its set up at the moment with its reward system, is like that of a pyramid scheme, by that i mean, a small number of people at the top (those that have been here from the beginning, those that have large followings) are making big money, and everyone else gets chicken feed, or nothing at all.
I wish i had the website address, but i saw a Steemit blog which had a graph showing the majority of people made big money at the start writing few blogs, whereas there was one single dot at the far right of a person that jpined later on who had to write 200 blogs to get that one huge jackpot from a blog.
What is my point? New users who have no following on social media (eg the average person like me, refereed to Steemit) will not make any substantial money on here.
Check this out then: https://steemit.com/steemit/@chaching/is-steemit-a-scam
But i swear, if there was a registration fee for new users, which i would NEVER pay, then i would call Steemit a pyramid scheme.
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