That is the reason i would not call steemit a ponzi.
You dont have to deposit anything to start here, you can actually do like me- just make yourself an account and start posting.
No money involved right?
And i think yes, Steemit may exists without steemit power , but we need something different then.
I dont like STEEMITPOWER idea,so i think that something new would made a job.
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Just because a free option exists does not absolve something from being a ponzi. You could be the bait.