Steem pyramid scheme revealed

[magicalacademy]

https://steemit.com/@steemit/transfers

https://steemit.com/@ned/transfers

https://steemit.com/@dantheman/transfers


Those are steem founders's wallets, they own a shit loads of steem yes i know. They own about 80% of steem .


You know what's funny is that they tell you to power up but they are powering down all 3 accounts and cashing out $2 Millions every week.

And fools on poloniex are buying up all the steems hahah and best of all the founders's money is growing extremely fast so they have essentially set up a system where they could cash out $2M every week for life until the ponzi come crashing down of course but these devs are fucking geniuses.
It doesn't end there though, they have designed a system where they have so much voting power compared to everyone else that they decide where the pool's money is being allocated, so if they want to pay themselves and their buddies they can do it just by a mouse click.
They can also create sockpuppets account and vote for themselves.It's like a fucking cartel, they are the first crypto mafia.
They also get to decide what goes on the front page so obviously they chose to upvote boobs and steem praise, there is nothing better than vagina to prop up a massive bubble.


In 3 years all the new steem power that was created out of thin air to enrich the devs will be detroyed at a ratio of 10 to 1. So if you have 10 SP they will burn 9 from you and everyone else including themselves, But they don't care becasue in 3 years the devs will be in their private yacht  sipping mojito with lots of bitches while you will be powering down but it's gonna be too late my friend.

And you know what they say when you ask but why are you destroying 90% of my wealth in 3 year? They say don't worry  hopefully the price will increase to make up for it rofl It will not because they would have crashed it to pay for the yatch lol

RIP steem power holders.

http://thestringpuller.com/2016/07/a-steeming-bubble/


edit : Dan has deleted transaction history on one of his account.  https://steemit.com/@steem/transfers

Money senta few days ago from https://steemit.com/@steemit/transfers is not showing as received on the steem account like it usually does. I don't know exactly why he doesn't want us to see the transactions but it looks like he is trying to hide something. Fishy


edit 2 : As predicted Steemit founders cashing out big time, they have been crashing the price from 5$ to 0.8$ and they are gonna crash it to pennies until there are no more investors to milk from.
https://steemit.com/steemit/@magnebit/steem-price-is-being-pushed-down-by-1-person-speculation-on-why-and-where-it-may-end-up

RIP steem power holders

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[robelneo]

Looks like you have a valid point we'll now wait what the admins and the devs has to say on this,actually it's quite hard to earn stemm dollars not unlike three moths ago

[Divinespark]

Let's wait and watch. I am not agreeing or disagreeing yet, merely think that many systems including BTC initially had high degrees of centralised token ownership until wider distribution occurred. I will be watching this play out closely.

[DecentralizeEconomics]

I can't believe how stupid and gullible some people are.  Didn't any of them learn anything from the Bitshares ponzi?  This is the exact same scam with a different name.  The Larimer Gang and their Chicom associates are scammers pure and simple, not "geniuses".

[Cast12]

I can't believe how stupid and gullible some people are.  Didn't any of them learn anything from the Bitshares ponzi?  This is the exact same scam with a different name.  The Larimer Gang and their Chicom associates are scammers pure and simple, not "geniuses".

I guess this may be about the money. People are still advertising ponzis in the "ponzi" section(investors).

[Arrakeen]

I can't believe there are THREE different coins that people are being scammed with. One was already more than enough, seeing as how only pro-steemit articles would get insane amounts of money....


...not to mention, the ENTIRE IDEA is bullshit - how is steemit a 'decentralized reddit'? You have to log in to steemit website - meaning someone or a team can shut one page or the entire site down at their discretion. Pure bs...cant believe there's this much volume (unless it's all an inside job/founders controlling vol)

[DecentralizeEconomics]

I can't believe there are THREE different coins that people are being scammed with. One was already more than enough, seeing as how only pro-steemit articles would get insane amounts of money....


...not to mention, the ENTIRE IDEA is bullshit - how is steemit a 'decentralized reddit'? You have to log in to steemit website - meaning someone or a team can shut one page or the entire site down at their discretion. Pure bs...cant believe there's this much volume (unless it's all an inside job/founders controlling vol)

Well you know those Larimers clean up pretty well after ripping everyone off with Bitshares.  I'm sure they have enough money to fake the volume to lure in the suckers.  If they're unwilling to use their own money, I'm sure the Chinese Communist Central Party is more than willing to finance the operation seeing as how they are profiting handsomely from helping the Larimers to perpetuate these conjobs.

[brekyrself]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

[magicalacademy]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

A few bucks? lol  dude what are you smoking? They are cashing out a few million bucks every week. They have been powering down continually for months, while everyone else is powering up so that they can sell at the top every week

[magicalacademy]

You can't "power down" before you've "powered up" silly.

Don't forget that long time bitcointalk Hero Smooth owns millions of dollars worth of STEEM earned simply for a few weeks of Bitcoin mining in 2016.  He has many accounts like this one cashing out hundreds of thousands of dollars weekly thanks to the Larimers.

https://steemit.com/@smooth/transfers

Smooth is a friendly mega STEEM whale millionaire who has more money than Marc the Lambo ho

In a ponzi scheme only early adopters benefit from the scam, no different here.

[ImHash]

What a shocking news some people developed a thing with block chain related excuses and promoted it and now are stealing loads of cash
And others buying in hopes of price increase.
This is nothing but when they cashing out millions is because people are stupid and act like sheep, they wont wake up to see even bitcoin
Is leeching money of others, but not like this or like 99% of all alt coins out there.

[brekyrself]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

A few bucks? lol  dude what are you smoking? They are cashing out a few million bucks every week. They have been powering down continually for months, while everyone else is powering up so that they can sell at the top every week

These blockchain experiments are worth a little more compared to working entry level jobs.  Paradigm shift anyone?


When someone puts in work, which users are clearly appreciating, how does one quantify a reward?  Do you dislike all "rich" people who have changed society as we know it?  Not talking about politicians either!

What's stopping you or any other keyboard warrior critic from making their own blockchain to push crypto forward?


Claiming someone makes too much money is extremely socialist or from this new entitlement age.  Think bigger and realize technology evolves, hence the reason they typically use version numbers.

[magicalacademy]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

A few bucks? lol  dude what are you smoking? They are cashing out a few million bucks every week. They have been powering down continually for months, while everyone else is powering up so that they can sell at the top every week

These blockchain experiments are worth a little more compared to working entry level jobs.  Paradigm shift anyone?


When someone puts in work, which users are clearly appreciating, how does one quantify a reward?  Do you dislike all "rich" people who have changed society as we know it?  Not talking about politicians either!

What's stopping you or any other keyboard warrior critic from making their own blockchain to push crypto forward?


Claiming someone makes too much money is extremely socialist or from this new entitlement age.  Think bigger and realize technology evolves, hence the reason they typically use version numbers.

You don't understand the point. I have nothing against rich people. My issue is that the devs are telling everyone to power up while they are powering down, isn't it paradoxical?  This system is flawed and totally unsustainable, that's why the devs are cashing out. I don't support scams sorry

[magicalacademy]

Where are the devs telling us what to do?

The only directions I received from the devs is to change my passwords so they are harder to brute force.

It's hard to say with the amount of sockpuppets they own.

[brekyrself]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

A few bucks? lol  dude what are you smoking? They are cashing out a few million bucks every week. They have been powering down continually for months, while everyone else is powering up so that they can sell at the top every week

These blockchain experiments are worth a little more compared to working entry level jobs.  Paradigm shift anyone?


When someone puts in work, which users are clearly appreciating, how does one quantify a reward?  Do you dislike all "rich" people who have changed society as we know it?  Not talking about politicians either!

What's stopping you or any other keyboard warrior critic from making their own blockchain to push crypto forward?


Claiming someone makes too much money is extremely socialist or from this new entitlement age.  Think bigger and realize technology evolves, hence the reason they typically use version numbers.

You don't understand the point. I have nothing against rich people. My issue is that the devs are telling everyone to power up while they are powering down, isn't it paradoxical?  This system is flawed and totally unsustainable, that's why the devs are cashing out. I don't support scams sorry

Bold statements should be backed up by some proof.  Care to explain?  Steem, while it may not be perfect etc... is attempting to attract people with no crypto knowledge.  This goes beyond simply sending a token from a to b that the general public could care less about.  Don't be part of the problem on this forum and yell scam, think bigger and try to theorize ways to improve honest projects.  

Was Microsoft Windows perfect with it's initial release?  Obviously it's still not perfect, so should MS just close up shop?  Getting back to the comment about pulling in "millions," these developers have bills to pay and should be rewarded for their work.  Simple economics shows if xy company is pulling in "millions," why not fork a crypto project and make it perfect within your vision creating competition?

[magicalacademy]

So many keyboard warriors on here that will never write a line of code or contribute to society.  You should be happy to see actual developers, such as the ones that created the steemit EXPERIMENT, make a few bucks.  They are trying to get crypto blockchain technology out of the basements and garages.

A few bucks? lol  dude what are you smoking? They are cashing out a few million bucks every week. They have been powering down continually for months, while everyone else is powering up so that they can sell at the top every week

These blockchain experiments are worth a little more compared to working entry level jobs.  Paradigm shift anyone?


When someone puts in work, which users are clearly appreciating, how does one quantify a reward?  Do you dislike all "rich" people who have changed society as we know it?  Not talking about politicians either!

What's stopping you or any other keyboard warrior critic from making their own blockchain to push crypto forward?


Claiming someone makes too much money is extremely socialist or from this new entitlement age.  Think bigger and realize technology evolves, hence the reason they typically use version numbers.

You don't understand the point. I have nothing against rich people. My issue is that the devs are telling everyone to power up while they are powering down, isn't it paradoxical?  This system is flawed and totally unsustainable, that's why the devs are cashing out. I don't support scams sorry

Bold statements should be backed up by some proof.  Care to explain?  Steem, while it may not be perfect etc... is attempting to attract people with no crypto knowledge.  This goes beyond simply sending a token from a to b that the general public could care less about.  Don't be part of the problem on this forum and yell scam, think bigger and try to theorize ways to improve honest projects.  

Was Microsoft Windows perfect with it's initial release?  Obviously it's still not perfect, so should MS just close up shop?  Getting back to the comment about pulling in "millions," these developers have bills to pay and should be rewarded for their work.  Simple economics shows if xy company is pulling in "millions," why not fork a crypto project and make it perfect within your vision creating competition?

The devs owns 80% of all steems in a system designed to enrich the rich. There is nothing to improve I'm afraid.

[magicalacademy]

Where are the devs telling us what to do?

The only directions I received from the devs is to change my passwords so they are harder to brute force.  If there is something else that we should do, then please post a link, and I will upvotes you so that you are fairly compensated for posting the link for me (that's how the future works).

You can't "power down" before you've "powered up" silly.

Don't forget that long time bitcointalk Hero Smooth owns millions of dollars worth of STEEM earned simply for a few weeks of Bitcoin mining in 2016.  He has many accounts like this one cashing out hundreds of thousands of dollars weekly thanks to the Larimers.

https://steemit.com/@smooth/transfers

Smooth is a friendly mega STEEM whale millionaire who has more money than Marc the Lambo ho

In a ponzi scheme only early adopters benefit from the scam, no different here.

No different here from early investors in Apple/Microsoft/Google shares.  

These companies's buisness models were sound which is why some investors originally invested. Steem has not a sustainable business model as demonstrated in OP.

[helloeverybody]

I thought it was fairly obvious from the offset that steem was going to be one massive scam yet everyone seemed to jump on it anyway.You might as well keep throwing money at it and letting these devs run off with their millions. When a copin just appears out of the blue and shoots to the moon this is a pretty good indicator that things are going to go bad.

[magicalacademy]

Which is why they post important instructions under non sock accounts

https://steemit.com/blockchain/@dan/steemit-releases-groundbreaking-account-recovery-solution

Do me a favor and go look at wallet transaction history, it's a sockpuppet festival, steemit, steem1, steem,etc...

[bbc.reporter]

I do not believe the people here in the forum are buying the Steems at Poloniex. Most of the people here and the lurkers including me are a little bit aware of all news and movements of altcoins. The price of Steem now is too steep and of course it is common sense that you have to wait for it to go down. But the smart ones who bought low are now very quiet counting their money. The others who have missed it of course will become noisy because there's no money to count. That is the sad reality but it is ok. It is only human nature.