[POLL] !!!!STEEM is it a SCAM !!!!- or only honestly unfair??? you decide.

[cryptohunter]

It smells of xcoin / darkcoin to me.

I don't like honestly unfair much more than I like full scam.


I'm not sure if it is worth cloning or not. I only would like to see it done so it would teach them a lesson for being so honestly UNFAIR.

How long to copy and paste it is what I am wondering?

fair steem has a ring to it. We could even be reasonable honest and fair and give them a 1% chunk premined for their hard work of developing it -  make it nice and fair.

Sorry though it will be an announced launch with windows qt so the entire community can have a honestly fair crack at it. We'll honestly announce 1% premine and give it to these honest folk for taking the time to create it.

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[generalizethis]

It smells of xcoin / darkcoin to me.

I don't like honestly unfair much more than I like full scam.


I'm not sure if it is worth cloning or not. I only would like to see it done so it would teach them a lesson for being so honestly UNFAIR.

How long to copy and paste it is what I am wondering?

fair steem has a ring to it. We could even be reasonable and give them a 1% chunk premined for their hard work of developing it -  make it nice and fair.

Sorry though it will be an announced launch with windows qt so the entire community can have a honestly fair crack at it. We'll honestly announce 1% premine and give it to these honest folk for taking the time to create it.

The only thing I'd suggest is that cloning a coin to teach scammers a lesson is scamming the investors out of a legitimate technology if that technology is pointless or the technology already exist in a more developed or more technology sound manner.

Just sayin'

Though I think more than a few people would like to teach scammers a lesson and it isn't a bad sales pitch--I'd probably buy a few undash if they were removed of the masterscam nodes.

[cryptohunter]

It smells of xcoin / darkcoin to me.

I don't like honestly unfair much more than I like full scam.


I'm not sure if it is worth cloning or not. I only would like to see it done so it would teach them a lesson for being so honestly UNFAIR.

How long to copy and paste it is what I am wondering?

fair steem has a ring to it. We could even be reasonable and give them a 1% chunk premined for their hard work of developing it -  make it nice and fair.

Sorry though it will be an announced launch with windows qt so the entire community can have a honestly fair crack at it. We'll honestly announce 1% premine and give it to these honest folk for taking the time to create it.

The only thing I'd suggest is that cloning a coin to teach scammers a lesson is scamming the investors out of a legitimate technology if that technology is pointless or the technology already exist in a more developed or more technology sound manner.

Just sayin'

Though I think more than a few people would like to teach scammers a lesson and it isn't a bad sales pitch--I'd probably buy a few undash if they were removed of the masterscam nodes.

Yeah the only thing is with this idea.

If fairsteem became the accepted fork or version and people supported it over steem (which they would) then the devs are now faced with a problem. They would be best to take the 1% and either dump and start a new idea or join fair steem.

Lesson learned no more Honestly unfair releases. Just honestly fair from now on.

Devs can be rewarded of course. 1% or even 3% of total minting perhaps even more if held by escrows and full ledger of expenses.  No more we take as much as we like and do what we want and either don't tell you or we do tell you and say tough luck. Sorry that is not acceptable at all. All those giving this type of scheme the benefit of the doubt are in fact enabling not only this scam but future scams of the same ilk. Soon we'll have a load of xcoin launches on our hands with the disclaimer - sorry its all so unfair now. It's the governments fault we are powerless to stop the unfairness they are forcing us to inflict upon you. But don't worry we are being honest so you have nothing to complain about.

It's not going to cost miners much to slap a few cpu's on it at the start just to get the distribution magnitudes wider than it is now. I have no idea if it holds anything interesting or new about it at all. That to me is neither here nor there... if it is not fair it needs to be crushed and restarted.

Often i notice things that look like they are non starters are allowed to slip along with unfair starts....they look unattractive , pointless etc etc. Then when the devs have all the coins they suddenly start doing them up and building the value. This eclipse dev seems to think it is worth destroying his reputation and eclipse crypto over. So perhaps there is something of value here. Unless he's a full on maniac who just wants steem tokens with no underlying reason. I don't really know. Smooth seems less opposed to it that i expected considering this is a full on xcoin launch claiming no instamine and no premine (like xcoin) but then saying  we will mine it all up.  I'm glad he is coming down with scammish and unfair at least.

On a scale of 1-10 with dash being 10 this to me is a 9 in disgusting tactics. 10 is the worst of course.

This vesting and the cost to vest increasing (although i have not looked into it fully) seems almost as bad as masternodes and minting slashing.

No matter how much you have or how interesting it is. scam is scam, unfair is unfair. Unfair is not essentially scam but it is not much of an improvement and should be treated the same way.

[cryptofanus79]

whats going on with bitrex ,now scm listing??  money talks richie?

[brekyrself]

Not a scam, just need to perform some due diligence.

https://soundcloud.com/beyond-bitcoin-hangouts/e149

[smooth]

Not a scam, just need to perform some due diligence.

https://soundcloud.com/beyond-bitcoin-hangouts/e149

That was long after launch.

[00lakhwinder00]

STEEM -85% @ bittrex

[cryptohunter]

STEEM -85% @ bittrex

-100% would be the only fair price.

this type of xcoin captive instamine scam (because we have to do it this way) is a joke. Many thought it was an april fools.

[FandangledGizmo]

I posted this reply in another thread of yours but probably more appropriate in this one, I'm also not a fan of STEEM atm.

I'm not a fan of STEEM myself.

The pros are that their lead dev, 'reverseflash' is probably Bytemaster, who's definitely one of the most talented devs in crypto imo and was given an honourable mention as one of the most influential people in Bitcoin in 2014 http://www.coindesk.com/10-influential-people-bitcoin-year/ The actual DAC itself looks interesting.

The negatives are that while they don't mention it in their Bitcointalk announement https://bitcointalk.org/index.php?topic=1410943.0

They mined 80% of the initial STEEM themselves. https://bitsharestalk.org/index.php/topic,22125.0.html

We have secured ~80% of the initial STEEM via mining.  

They are also hoping all their total supply will count towards their valuation, even though 99.5% is locked-up/vesting (not 'available supply' imo )and a large portion of that will be from STEEM they mined themselves. https://bitsharestalk.org/index.php/topic,22125.msg288854.html#msg288854

Only 0.47% of STEEM is liquid in individual accounts, this is going to make the pump on CMC legend... wait-for-it... dary!

I'd....

(My personal view is that if a lot of coins mined >80% of the initial coins to themselves and had >99.5%+ non liquid & that all counted towards 'available supply' then you would have hundreds/thousands of coins seemingly worth >$10 million with minuscule, possibly manipulated volume which would seriously undermine crypto valuations.)

They also haven't provided a windows wallet yet so most regular buyers are being heavily diluted with the dilution going back to them being the biggest holders currently.

If one were to buy steem.....is it currently possible to vest the steem if you are NOT technically proficient?  Is there a windows wallet yet?
If you cannot vest, then is it true that you would be at a significant disadvantage so there would be very little point in holding for the long term?

Yea there's no windows wallet yet so you'd be unable to vest your Steem. That leaves you vulnerable to inflation in the long term so just holding is probably not a great idea.

https://bitsharestalk.org/index.php/topic,22125.135.html

(As far as I can tell the BitShares community is not a fan of the project in general either and they relegate all STEEM related posts to the 'random discussion' section of their forum.)

[fuznutts]

Scam is one hell of an incorrect word.  Unfair maybe...but then again I could apply the same logic of not having windows binaries to the argument for mining in general. 

I mean how "unfair" is it that I can't mine bitcoin like those with ASICs (and the money to buy them) do?  Doubt i'll hear much from the community on this, but I can assure you those who hold steem have a team of devs who are among the best blockchain devs in the world who are intent on building value.

[cryptohunter]

Scam is one hell of an incorrect word.  Unfair maybe...but then again I could apply the same logic of not having windows binaries to the argument for mining in general.  

I mean how "unfair" is it that I can't mine bitcoin like those with ASICs (and the money to buy them) do?  Doubt i'll hear much from the community on this, but I can assure you those who hold steem have a team of devs who are among the best blockchain devs in the world who are intent on building value.

building value for who though?

has anyone done any kind of audit on the dev wallets. Does it all look legit ? are the steem tokens going to real posters for creating new content? I wonder. If so then no problem. What are the odds of it being like that though??

Either way there are a few others that made a FORTUNE being in on the instamine that are not related to the dev team. I wonder how much eclipse dev stashed away whilst claiming it was a scam from the start.

I wonder if deep analysis of the steem instamine would throw up some interesting insights.

[raphma]

Scam is one hell of an incorrect word.  Unfair maybe...but then again I could apply the same logic of not having windows binaries to the argument for mining in general. 

I mean how "unfair" is it that I can't mine bitcoin like those with ASICs (and the money to buy them) do?  Doubt i'll hear much from the community on this, but I can assure you those who hold steem have a team of devs who are among the best blockchain devs in the world who are intent on building value.

it's an old thread but still, i agree with you. the only thing i would change is: It's DEFINITELY unfair, not maybe.
Whales hold the power.. i've seen great posts about how unsustainable steemit is, or how scamishy it looks like, none of them were well paid, NONE, and most of it were good post like this one. But a makeup tutorial worth 30k...

[iamnotback]

It is not only unfair in the way it was launched, but the way it was launched may also mean the funding model may not work (<--- click my link).

So they may have shot themselves in the foot.

The word scam is ambiguous. Is Ethereum a scam because they don't tell us they have a bot doing price manipulation on the exchanges? Isn't it obvious enough.

[vlom]

i think it is only unfair. after i read this it was clear for me:

Powering down turns steem power into steem over the course of 2 years with one payout per week.

two years? who will remember that there was something called steemit in two years?

it is a ponzi too.

[CoinHoarder]

Scam is one hell of an incorrect word.  Unfair maybe...but then again I could apply the same logic of not having windows binaries to the argument for mining in general. 

I mean how "unfair" is it that I can't mine bitcoin like those with ASICs (and the money to buy them) do?  Doubt i'll hear much from the community on this, but I can assure you those who hold steem have a team of devs who are among the best blockchain devs in the world who are intent on building value.

Get out of here with your solid logic and reasoning. This thread is meant to ignore the general unfairness of all other cryptocurrencies and single out Steemit for something that exists in all cryptocurrencies... unfairness! We all know how the sock puppets that have been attacking Steemit up and down the forums are going to vote. Bitcointalk polls are worthless.

[DecentralizeEconomics]

[smooth]

@decentralized, as far as I can tell Stan has nothing to do with Steem.

[yudy]

iam not interest steem coin but several day later iam trade and profit
why iam not interest because i can't regiseter in steem dot com iam very late register

[DecentralizeEconomics]

@decentralized, as far as I can tell Stan has nothing to do with Steem.

I just picked myself up off the floor after I fell off my chair from laughing so hard.

Seriously now... Do you honestly expect anyone to believe that?

[MrComputerCodes]

I think it's unfair! The dev should pay me personally.

FUCK YOU, PAY ME  as the cool kids say nowadays