What is Steemit?
I want each and every user to actually think about this question from multiple directions. Then I want you to try and explain what Steemit is to someone who doesn't know about Bitcoin or Blockchains...
What did you come up with?
- blogging platform that pays to post?
- Article platform that pays quality content creators?
- Social media platform capable of overtaking facebook?
- Free money fountain?
What did you forget?
- paying for upvotes...
- High-Value posts for worthless content...
- Bots!
- Investor bias
- Circle Jerk voting
- Trail voting
- 3000+ bot voting
- Rewarding Plagerism
- Rewarding Scams
- Rewarding beggars
But did you really answer the question, or simply open up more questions?
Did you leave that person more confused than before?
What is Steemit?
Steemit is exactly what the users want it to be.
The consensus says its a "Social Media Platform" or a "Get paid to Blog" site
But is it really?
There is obviously No direction...
People only want to make money and will follow whatever way is best suited to achieve that outcome.
If people were getting rewarded to beg (Which they do) everyone would start to beg....
That's not blogging or creating content, its called begging, and yet Steemit is fully capable of moving in that directionHypothetically, Steemit could become a site to reward people for doing basically anything.
If Steemit wanted to move into a direction of blackmail, I'm sure many users would jump on board to get that cashI don't think anyone can successfully explain Steemit without reaching the conclusion its a Pyramid Scheme
What if all the facts point to Steemit being a Ponzi Scheme?
- Absolutely no business model
- Zero Revenue
- Zero Advertizements
Where do the payouts come from then?
The only answer is "Investors"
The only way for steemit to continue to operate is if speculative investors are buying Steem or new users are sucked into the grand scheme of
Investing makes your upvotes worth more!!!
(which is only true if the price of Steem remains constant)
Then the new users (investors) buy from the old users (investors)
As long as this process continues everything is OK, but once it doesn't....
Crash and Burn
Which will completely wipe out new investors and make all posts have 0 payouts....
Conclusion
No Body really knows what Steemit is..
The cool thing about Steemit potentially being a Ponzi is that it is currently running like a well oiled machine and typically the early investors in a ponzi make a lot of money! (There is always some good in Bad)
But when the tide turns, the fundamentals of Steemit pretty much guarantee an extremely swift collapse, and the last investors will be sitting around wondering how they lost so much so quick.
P.S. Please don't come in with a comment acting like your in shock over what you just read. I get really sick of the Brown nosers here thinking if they just praise Steemit and don't say anything bad they will start making big rewards...
- This place don't care.
If you make a brown-nose comment, you obviously didn't think about it too hard and I doubt you tried explaining it to anyone.
Social experiment.
Master of puppets (whale's perspective).
P.S. there is no justice, @justiceforall. It's only a concept built on illusion. The real human system that rules is cleverness, rooted in greed. "Justice" only serves the masters.
"Master of Puppets"
I really like that response, very interesting...
You should post more-often, those are some good insights.
Steemit. To me, like everything is just a reflection of humanity
until there is no poverty then there will be beggars, and scammers. this is human nature also, to be lazy and want our cake and eat it too, kind of thinking
I have seen quite a few posts on this topic and i guess we all want a better world.
The human race has a long way to go before we have eradicated all forms of negative mentalities, we in my opinion tend to forget the spiritual side of the equation.
Solving this issue is quite a deep rooted problem, personal choice empowers us.
nice post bro
@justiceforall I totally hear you. At the beginning I was like wow, money coming in, my first post. That was a good content. Then I thought maybe the reward was just to lure me, to stay... Then days, weeks, months later it didn't happen again. The content was even better. Maybe there were big hands just controlling, ok she's in, she was in a temporary high, ok let her work hard and earn pennies now.
Now as I get to know steemit more, I get to analyze the people here, how it works. The usual behavior of people of course. I started to 'booster' bid bot / invest some of my posts that I think deserve to be read by some people. I want some of my messages to be out there. So, just it stays for a little bit up there. Then I found out, people just upvote, when they see something is becoming really popular. Conforming. Of course, they want to make money from your post. There are few legitimate readers who really found and dug me somewhere. But the most people are just clapping for a post that's getting famous. I didn't know if they noticed, my post went up there because of me helping myself lol, and some few steemit friends here.
I live off steemit, times are hard. I cannot depend on the whales anymore.
So I don't know what's gonna happen, but let's see how it goes.