Steem pyramid scheme revealed

[sgdias]

Guys, stop what you are doing and have fun for a minute with this tribute to Satoshi:

https://steemit.com/bitcoin/@sgdias/imagine-crypto-dedicated-to-all-crypto-community

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[generalizethis]

The other thing I'm watching is whether any small retailers use steemit as a store front so they can compete with amazon's ease of use--have yet to see it.

Can you give me some of what you are smoking?

No chance in hell of what you are fantasizing about.

I forget the name, but you can order in on Alpha Bay.

Anyways, I didn't that it would happen only that I was watching for it--and it does make sense for small retailers--though it depends on steemit's growth, which depends on managements ability to groom stable communities within the platform--which doesn't seem to be happening (though it still could).

How does it make sense for small retailers of any significance to target a userbase of less than 100 million users instead of Amazon as you indicated? You know that Amazon allows small retailers to sell on Amazon. I could see some retailers offering products in exchange for Steem tokens when the active userbase reaches a million users, but this won't be lieu of selling every where else also.

As for the vaporware microtransactions ecosystem, we will see if it is every developed.

It will be one less hoop for the consumer to jump through (cc, paypal) and AFAIK amazon isn't a good fit for all retailers (not sure why you mentioned it won't be in lieu of everywhere else--who would assume that?).

[btcxyzzz]

Brilliant post, loled hard. still... first crypto mafia's got to be Blockstream. Don't know if it's true or not, have no time to investigate, but those bitches on yachts sounds are hitting the main nerve ))

[Snorek]

So... If Steem is to bad, crooked and secretly a piramid scheme then how it is possible it is still in top 3 the biggest coins - market cap wise?
People are so desperately to pump, afraid to lose or think it is not that bad of a situation? I don't get it.

[iamnotback]

It will be one less hoop for the consumer to jump through (cc, paypal) and AFAIK amazon isn't a good fit for all retailers (not sure why you mentioned it won't be in lieu of everywhere else--who would assume that?).

I don't understand why buying products online with cc, paypal is any more of a hoop to jump through than buying with Steem. If you mean that the payer already has some Steem, then I can say they already have some fiat in their credit card also.

My point is that unless you are selling some product which is targeting only to Steem users (e.g. the Steemit T-shirts), then there is no advantage to adding Steemit's miniscule share of the online market to your set of payment options as a seller online. You should add Bitcoin first, as it has two orders of magnitude more users.

[iamnotback]

So... If Steem is to bad, crooked and secretly a piramid scheme then how it is possible it is still in top 3 the biggest coins - market cap wise?
People are so desperately to pump, afraid to lose or think it is not that bad of a situation? I don't get it.

When is the last time you saw females joining a crypto train in droves.

The concept of Steem is big time. The launch and design details coupled with the follow through of Steem's implementation of the concept is what I'm thinking is REKTED (with my analysis open to continued observation of progress/changes).



I believe r0ach mentioned this graphic artist, but I can't find his post about her (Edit: found it):

Well...it's not something I'm good at - introducing myself... I don't like it at all. In fact, I have always preferred to skip that awkward introduce yourself situation...I'm the person that just randomly is there, and then, right before everyone says goodbye, I'm gone. I like the part in between all that, the part where you really get to know the other person. No small talk, no polite phrases just for the sake of being polite.... I want the real stuff, I want to go right to the stuff that matters. But over the years I've learned that most people prefer going the long way - introducing yourself, small talk, polite phrases, small talk again, than perhaps getting to actually know the person. So here I am, introducing myself.

I'm a girl, people like to know a persons gender, so I figured I should throw that in there. I'm somewhere in between 20 and 30, and hopefully I'll stop aging as soon as possible. I'm into a lot of stuff, like ethics, pokémon, gaming, drawing, dogs, psychedelics and empathogens, anti-aging, evolutionary biology and behavior, large scale geology...

No, I'm not holding a "steemit" sign, but I promise that this is me. I almost never lie, so if you believe me, the odds are in your favor. Holding a sign on the internet is risky business, so I've decided to stay off that path for now.

Asperger is something a person is born with, but since most people with this condition are males, I figured someone might find it interesting reading about an aspie girl. This is way outside my comfort zone, but hey, it's just the internet...it's not like it's gonna be here forever... lol jk.

She is funny and living inside her head a lot and playing with words and concepts. Sort of resembles a facet of myself.

Steem has personalized crypto. Bitcoin didn't even get close to that.

What really matters any way? Social illusions are one game we play on ourselves because just like one ant, no human alone is really accomplished or resilient in the big picture perspective. Perhaps I may have some mild Aspergers also because there were many times I preferred playing inside my head than "pointless small talk" and I've been known to offend others with my communications when I am not being very conscious of my need to think of the way my words will be interpreted. Your blog post is funny and mental, e.g. "empathogens" lol. Your art talent appears to be impressive. Having been in the Bitcoin sphere since 2013, I am finding it very gratifying to observe blockchain and cryptography technology reaching the personalization interaction stage on Steemit. Thanks for sharing. Hope you find new and interesting horizons with new resources such as Steemit. I'd probably have more to say if I had more time to think about it.

[r0ach]

You can tell how huge Steemit is gonna be if they actually implement the proper filters in the user interface like in this picture:

https://steemit.com/steemit/@r0achtheunsavory/steemit-feature-wish-list

[iamnotback]

You can tell how huge Steemit is gonna be if they actually implement the proper filters in the user interface like in this picture:

https://steemit.com/steemit/@r0achtheunsavory/steemit-feature-wish-list

The number of tags will proliferate so much that no one will be able to really home in on which tags they want to click. It will effectively still be a firehose. I don't think you can solve the relevance problem with only tags filtering. Rather it has to be solved with like-mindedness. Follow (users) feeds are one way, but rather crude and noisy.

In any case, I don't see how that will overcome the:

• insolubly dysfunctional voting algorithm which pays most good content nearly nothing
• entire lack of medium-term investing option because STEEM are debased 50% yearly (and SP locks you up for 1 year weighted after price once you decide to cash out)
• the dependence on the pie-in-the-sky goal of ramping up a $billions transfers transaction ecosystem to make it economically sustainable

So many tags will be proliferated, that filtering by tag is likely to become as much a firehose as is the site now. I don't really see that solving the problem of relevance, except as pertains to creation of dedicated groups which gain prominence over others, e.g. #bitcoin becomes prominent over #bitcoinfans, #bitcointalk, #bitcoinnews, etc..

I presume Reddit can limit the number of discussion sub-forms created because it is a top-down run site?

[r0ach]

The number of tags will proliferate so much that no one will be able to really home in on which tags they want to click. It will effectively still be a firehose. I don't think you can solve the relevance problem with tags filtering.

I do because it works under the same concept as IRC channels.  While not completely unbounded or analog, the variety of IRC channel combinations you can create is extremely high, yet people congregate/conform/cooperate as to funnel into certain ones.

[generalizethis]

It will be one less hoop for the consumer to jump through (cc, paypal) and AFAIK amazon isn't a good fit for all retailers (not sure why you mentioned it won't be in lieu of everywhere else--who would assume that?).

I don't understand why buying products online with cc, paypal is any more of a hoop to jump through than buying with Steem. If you mean that the payer already has some Steem, then I can say they already have some fiat in their credit card also.

My point is that unless you are selling some product which is targeting only to Steem users (e.g. the Steemit T-shirts), then there is no advantage to adding Steemit's miniscule share of the online market to your set of payment options as a seller online. You should add Bitcoin first, as it has two orders of magnitude more users.

When I say extra step, I mean signing-in. If I'm already on a social site and see something I want and can buy it right then without having to chose a payment option, that's less steps--seconds perhaps, but everyone is trying to eek out every second they can. Also, for retailers, it should be cheaper as there aren't any chargebacks or international fees to leverage on retailers by steemit--though steem dollars need to be consistent with the dollar for this to make sense.

[iamnotback]

The number of tags will proliferate so much that no one will be able to really home in on which tags they want to click. It will effectively still be a firehose. I don't think you can solve the relevance problem with tags filtering.

I do because it works under the same concept as IRC channels.  While not completely unbounded or analog, the variety of IRC channel combinations you can create is extremely high, yet people congregate/conform/cooperate as to funnel into certain ones.

It may provide some improvement, but...

That doesn't entirely fix rankings within a tag (whales will still drive the top rankings in the tags they vote in) nor entirely rewards for content (since even though I may see more of the content I am interested in, my minnow vote still won't be worth much). Meritorious rewards are necessary to drive serious blogger effort and vestment in the site (since paid content is their main claim of differentiation from Medium, Reddit, and other similar sites, and the blockchain isn't decentralized any way so the idealism sales pitch isn't defensible). That still doesn't provide a medium-term investment demand to sustain the price and market cap (especially when competition arrives that does provide such).

If Bitcointalk.org is any indication, users are head-headed and will create numerous duplicate tags (as threads they do here). Do I ignore those other threads just because there are more popular threads? Not entirely. Thus there is an incentive to proliferate tags.

I suppose the author can attach numerous tags to his post, but that becomes a pita for the author to keep track of all the various ones, and new tags may need to be added to his post over time to keep his post in all relevant tags.

It would be much better if I could (either automatically or by some manual action) subscribe to like-minded interests and have all those posts come to me, regardless of how the author has tagged them. However, I might share some interests with another person but not all their interests, so merely following another person's sharings will spam me with content I am not interested in.

Another reason to proliferate tags is that others are dumping shit into a tag that I think isn't applicable to that tag. Or some author wants to differentiate her content from other content in a tag. Diversity and degrees-of-freedom will dictate that master tags won't dominate.

I have a design idea of how to get the best of both.

[iamnotback]

This is a good read:

https://steemit.com/steemit/@coinfund/perspective-customer-acquisition-and-retention-on-steemit
https://blog.coinfund.io/perspective-customer-acquisition-and-retention-on-steemit-327a7f21cd8e

Also this:

https://medium.com/@jbrukh/disruptive-technologies-speculative-capital-and-thinking-big-about-steemit-30426141347c

I see huge potential in the concept. My point is Steem messed up the rewards algorithm, the distribution at launch, and the ongoing investment demand. Difficult to compete (even with a first mover timing advantage) against a project which fixes those issues which afaics are insoluble in Steem (assuming I am correct that those key attributes are not solvable for Steem and that they are critically important).

• They can't fix the distribution (far worse than a normal power-law distribution) even by giving away the 59 million SP tokens to free signups, if the attrition/abandonment rate remains 80%.
• I don't see any way they can fix the voting algorithm without also verifying every account to prevent Sybil attacks and also radically changing the way STEEM vs. STEEM POWER (SP) are structured, which I just don't see them able to do due to the vested interests in SP already.
• They can't fix the medium-term investment demand case (to provide increasing liquidity) without radically changing the way STEEM vs. STEEM POWER (SP) are structured, which I just don't see them able to do due to the vested interests in SP already.

[iamnotback]

It will be one less hoop for the consumer to jump through (cc, paypal) and AFAIK amazon isn't a good fit for all retailers (not sure why you mentioned it won't be in lieu of everywhere else--who would assume that?).

I don't understand why buying products online with cc, paypal is any more of a hoop to jump through than buying with Steem. If you mean that the payer already has some Steem, then I can say they already have some fiat in their credit card also.

My point is that unless you are selling some product which is targeting only to Steem users (e.g. the Steemit T-shirts), then there is no advantage to adding Steemit's miniscule share of the online market to your set of payment options as a seller online. You should add Bitcoin first, as it has two orders of magnitude more users.

When I say extra step, I mean signing-in. If I'm already on a social site and see something I want and can buy it right then without having to chose a payment option, that's less steps--seconds perhaps, but everyone is trying to eek out every second they can. Also, for retailers, it should be cheaper as there aren't any chargebacks or international fees to leverage on retailers by steemit--though steem dollars need to be consistent with the dollar for this to make sense.

Agreed if they amass a large enough ecosystem. Otherwise there aren't the economies-of-scale to make it more convenient often enough to make it worth the proliferation of ways to pay.

As I said, when they approach 100 million users, yes indeed! But IMO I don't think they can get there.

[generalizethis]

It will be one less hoop for the consumer to jump through (cc, paypal) and AFAIK amazon isn't a good fit for all retailers (not sure why you mentioned it won't be in lieu of everywhere else--who would assume that?).

I don't understand why buying products online with cc, paypal is any more of a hoop to jump through than buying with Steem. If you mean that the payer already has some Steem, then I can say they already have some fiat in their credit card also.

My point is that unless you are selling some product which is targeting only to Steem users (e.g. the Steemit T-shirts), then there is no advantage to adding Steemit's miniscule share of the online market to your set of payment options as a seller online. You should add Bitcoin first, as it has two orders of magnitude more users.

When I say extra step, I mean signing-in. If I'm already on a social site and see something I want and can buy it right then without having to chose a payment option, that's less steps--seconds perhaps, but everyone is trying to eek out every second they can. Also, for retailers, it should be cheaper as there aren't any chargebacks or international fees to leverage on retailers by steemit--though steem dollars need to be consistent with the dollar for this to make sense.

Agreed if they amass a large enough ecosystem. Otherwise there aren't the economies-of-scale to make it more convenient often enough to make it worth the proliferation of ways to pay.

As I said, when they approach 100 million users, yes indeed! But IMO I don't think they can get there.

Have no idea--right now it seems like a bunch of zombies with game-addled brains mumbling, "Whales" as they wade through a morass of tits, bad poetry, and travel blogs--the one saving grace is the tech and finance sections, let's hope the rest catch up.

I still spend more time here as there's at least a chance of an interesting discussion.

[r0ach]

There are reports of girls and alien invasions on Steemit.  Cryptocurrency is now mainstream:

https://steemit.com/science/@envi.sage/mass-ufo-sighting-over-multiple-us-states-you-need-to-check-this-out

[r0ach]

Hilarious and predictable - politically correct woman tries teaching in "the hood".  Students assault her and destroy her car.  She's told to discriminate against white people to make the students happy, then after she leaves the school in fear, says it was a great and wonderful experience!

https://steemit.com/introduceyourself/@melek/punish-a-white-kid-first-the-rule-i-didn-t-follow

[iamnotback]

Steemit is down right now, but Steemlt.com is available now:

https://www.reddit.com/r/steemit/comments/4vevdt/this_is_a_clone_of_steemitcom_fully_functionnal/

Just replace i with l in your urls.

[iamnotback]

Guys, stop what you are doing and have fun for a minute with this tribute to Satoshi:

https://steemit.com/bitcoin/@sgdias/imagine-crypto-dedicated-to-all-crypto-community

I would upvote that if the site wasn't down.

Another example of reasonably creative content that is only receiving a paltry reward. Much better if he had hired a sexy, throwback hippie babe to sing it on video.

[iamnotback]

Steemit is down right now, but Steemlt.com is available now:

https://www.reddit.com/r/steemit/comments/4vevdt/this_is_a_clone_of_steemitcom_fully_functionnal/

Just replace i with l in your urls.

Now that is down as well.

[AlexGR]

Personally I wouldn't trust a "replica" site...