Its not a ponzi scheme.
Its a multi-level marketing scheme.
Every level feeds off the work of the level below it.
Whales and curators feed off the content creation of the poor minnows trying to make it with upvotes.
Just like multi-level marketing schemes convince you that you can sell some lame product and convince new people to sell on your behalf.
The way I see it is , that at least i can make some money blogging instead of posting and blogging stuff on facebook and getting zero !! while they rake in all the money and become billionaires !ππI have allready cashed out thousands dollars on Steemit while I was laid off work , it helped pay my rent and bills , before that I was Able to buy a new chromebook for better blogging on Steemit and a new stainless steel BBQ That I post food posts about in my @momskitchen blog ! I could never have done that blogging on Facebook !! the real scammers or whatever they are , are Facebook !
Great work. Sounds like an awesome success story!
What a great idea @somethingsubtle ! I might just do that someday soon ! following you now ! πβπ