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RE: For everyone still confused about how steemit generates value - Is it a ponzi scheme?
That is the very definition of a Ponzi scheme . . . The first have the advantage . . . they gained the most Steem at the lowest price . . . now they use it to advantage themselves, with upvotes and downvoting others. I was trying not to point out the similarities of Steem.it with Bitconnect . . . but, now, here we are.
No, a ponzi scheme is one that doesn't generate value - it only captures it. Steemit generates value by luring its users towards writing good content.
If you don't believe that steem is a Ponzi scheme . . . then, you should quit bringing it up... I don't care. This place is a rudderless ship . . the brains have long since left . . . and now EOS dwarfs Steem.it.
But, What ever. I try not to leave too much 'Value here.'