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RE: When people will realise steemit is unsustainable and just an elaborate scam?
Do you even know what a ponzi scheme is? A ponzi scheme requires people to pay money in the expectation of a return but uses that money to pay off old investors. At some point the scheme will collapse.
Steemit is asking for people's time but is asking for very little if any money. Why do people erroneously call any crypto currency a Ponzi Scheme. They may be other things but not that.
https://en.wikipedia.org/wiki/Ponzi_scheme
You pay with your work and you beeing on this website... This has value on internet!
it's why I call it an elaborate one...
okay next one... because the above guy is a steem fan. blinded by money
Facts are a sticky thing aren't they. Hey if in your opinion you think this is a scam by all means go ahead and believe that. But it can't be a Ponzi Scheme because its not and while we are at it, if you think this is a scam/Ponzi Scheme why are you here posting adding to the coffers of this "scheme". Your every keystroke contributes to the profit of this site. You should pack your shit and go elsewhere if it bothers your that much. That would be the logical choice.
I will trust me... I just ride the wave! just don't buy any coins... and yes its a ponzi because people need to buy coins for them to have value and one day no one will buy them on Poloniex and Bittrex and you will have nothing... mark my words! It might take 10 years but it will happen...
I don't understand why you'd want to spend your time being a part of a "Ponzi scheme", but without any expectation of reward, I just received valuable recognition from someone who you could have benefitted from too instead of claiming it is a scam. If you really believed what you are saying, you wouldn't be here posting.
good for you pal enjoy while it last ;)
excellent distinction.
that got my vote. :-)
Thank you @rok-sivante I hate it when people throw the Ponzi word around when they think anything is a scam. A Ponzi scheme is a special kind of scam, think Bernie Madoff, et al. Ponzi schemes are actually pretty brilliant and take special people (heartless as well) to pull them off.
Steemit is brilliant as well but it is obvious the creators are thinking of the people as an asset and the best way to use that asset is to give them a share of that profit, or profit sharing. A typical person could literally walk into this place without a penny and cash out. No Ponzi scheme works like that.
Steemit may ultimately be unsustainable (I believe it is sustainable) but it is no scam in my opinion.