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RE: Steemit May Not Be a Fraud, But We Are Certainly Not Yet Sure What It Is !
I don't know if you are reading it, as my reputation is very low.
I think Steemit is a scam. People buy hundreds of SP to reward their favourite content creators, then whales step in and take the rewards away, therefore rendering SP useless.
People complain that a bitcoin transaction takes hours to confirm, yet it takes exactly 7 days for a Steemit reward to kick in, and 13 more weeks before you can withdraw it. In the meantime whales specifically plan to take the reward away just before the 7 days mark.
I will stick to local face to face chats, as I do not need to publish that many articles anyway, and when I want to reward somebody, I will do it in bitcoin.
Youmake valid points to be sure.