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RE: Is Steemit a Ponzi Scheme? Did Steemit Steal its Idea from Qntra?

in #steemit8 years ago (edited)

"A Ponzi scheme (also a Ponzi game or a Ponzi) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent." - Wikipedia

Steemit does not fit this criterion. There is no guarantee of short term exorbitant returns at all here. In fact there is no guarantee of returns period. This is not a get rich quick ponzi scheme, it is as it is advertised. A reward based social media platform.

People in crypto are always screaming scam when they missed out on a good thing, and are often times too stupid to see a good thing when its staring them in the face.

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