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Author Topic: Steem pyramid scheme revealed  (Read 107034 times)
iamnotback
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October 27, 2016, 05:15:09 AM
 #1101

Follow-up:

Quote from: myself
Quote from: @berniesanders
Just because you have no sense of humor doesn't mean the rest of us don't.

Are you building a serious social media juggernaut or just having fun in a private corner of the Internet with your buddies?
iamnotback
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October 27, 2016, 05:22:03 AM
Last edit: October 27, 2016, 06:59:29 AM by iamnotback
 #1102

If well-established bloggers migrated onto Steemit...

They won't. Far upthread, I quoted a well-established blogger who posted a comment (or a blog, I forget) to Steemit, who explained the economics well. Bloggers go where the readers and economies-of-scale are. Medium has 25 million readers.

The hen-and-egg dilemma has to be addressed in a very well thought out way.

It is insufficient just be a good programmer and fake your way into being an experienced Internet marketer.
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October 27, 2016, 05:32:17 AM
Last edit: October 27, 2016, 05:51:42 AM by iamnotback
 #1103

What do people think about the arguments in the following article:

http://www.libertylifetrail.com/2016/10/23/steemit_started_as_a_scam_and_only_got_worse/

Are they valid?

Mostly accurate. And the most ironic truth if we are talking about economics of blogging:

Quote
Needless to say, Steemit might actually be the MOST censored content site on the web.

Realize you forsake 25 million readers at Medium to blog at Steemit to at most 1/1000th of that readership, hoping for payout in $ instead of a payout in readership.

Also the only really viable way to find content on Steemit is via its payout ranking, the lowly paid posts are more or less censored.

So much for a decentralized blockchain having the virtue of less censorship.


Edit: This paper cited by Tone Vays, hits on all the points I've been making since yesterday (as well I've as @anonymint in 2013/14 made similar arguments about Coasian cost theory or the Theory of the Firm and its relationship to Metcalf's value law):

http://ra.ethz.ch/www/www2008/ws-workshop/webevolve2008-10.pdf
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October 27, 2016, 07:54:11 AM
 #1104

If well-established bloggers migrated onto Steemit...

They won't. Far upthread, I quoted a well-established blogger who posted a comment (or a blog, I forget) to Steemit, who explained the economics well. Bloggers go where the readers and economies-of-scale are. Medium has 25 million readers.

The hen-and-egg dilemma has to be addressed in a very well thought out way.

It is insufficient just be a good programmer and fake your way into being an experienced Internet marketer.

I think I'll watch it play out before declaring it 'dead' based on a few anecdotes during beta. I'm sure there were people that visited "theFacebook" and "Twittr" a few months after they launched and thought 'what is this shit.' Still very early days for Steem and Steemit.

As far as crypto tech goes, Steemit is a very interesting experiment with a working, easily accessible prototype and potential use case (a far cry from the vapourware, ICO crypto speculation vehicles that permeates the space).

Like any project, internet marketers can be on-boarded. It can potentially be done in a decentralised way, which again I think is a fascinating angle.

It will also be interested to see how Steemit's potential competitors fare (Synereo, Yours, Decent, Akasha etc.) in terms of attracting talented writers and proving meaningful remuneration to them.

I've yet to see a single crypto that has made meaningful traction in terms of marketing itself to the masses (I'd include Bitcoin & Ethereum). So Steemit is no different on that score.

If Steem/ Steemit is a scam (I don't think it is but that's the thrust of this thread), it's one which the crypto-community could learn from in terms of how to potentially reach out beyond the navel-glazing crypto enthusiast.
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October 27, 2016, 09:18:11 AM
Last edit: October 27, 2016, 09:28:40 AM by iamnotback
 #1105

If well-established bloggers migrated onto Steemit...

They won't. Far upthread, I quoted a well-established blogger who posted a comment (or a blog, I forget) to Steemit, who explained the economics well. Bloggers go where the readers and economies-of-scale are. Medium has 25 million readers.

The hen-and-egg dilemma has to be addressed in a very well thought out way.

It is insufficient just be a good programmer and fake your way into being an experienced Internet marketer.

I think I'll watch it play out before declaring it 'dead' based on a few anecdotes during beta. I'm sure there were people that visited "theFacebook" and "Twittr" a few months after they launched and thought 'what is this shit.' Still very early days for Steem and Steemit.

As far as crypto tech goes, Steemit is a very interesting experiment with a working, easily accessible prototype and potential use case (a far cry from the vapourware, ICO crypto speculation vehicles that permeates the space).

Agreed wholeheartedly. And there is still some possible chance that ecosystem developments might surprise to the upside.

Like any project, internet marketers can be on-boarded. It can potentially be done in a decentralised way, which again I think is a fascinating angle.

I would agree conceptually except as I argued in my discussion with @smooth yesterday, I think it can't likely happen because of the whale control and the voting paradigm for rewards.

It will also be interested to see how Steemit's potential competitors fare (Synereo, Yours, Decent, Akasha etc.) in terms of attracting talented writers and proving meaningful remuneration to them.

If I have any success on my health treatment, then you are going to need to add another name with 5 letters to that list.  Wink

Any way, I have already written the detailed reasons why I think all those projects are incorrectly conceived. I don't want to repeat myself. Those who are interested can go digging in my posts for it. See the "Someone please make a Steem clone" thread for some of that (more on cognitive load).

But for starters, I don't thinking blogging is the optimum priority activity to target for what we are trying to do with onboarding and developing commerce.

And in my analysis any concept that is paying rewards to curators or voters is destined to fail.

I've yet to see a single crypto that has made meaningful traction in terms of marketing itself to the masses (I'd include Bitcoin & Ethereum). So Steemit is no different on that score.

Agreed. Steemit at least had non-crypto people and females trying it. That got my attention. It validated my concept that I had conceived and been working towards a long-time before Steem was hatched. Steem also gave me some new ideas and helped refine some of my concepts.

If Steem/ Steemit is a scam (I don't think it is but that's the thrust of this thread),

I think it is sincere. It is just one of those Rube Goldberg concepts of Dan Larimer. I don't think he is intentionally setting out to scam people. I think he really believes in what he is working on. I don't think the term 'scam' is always useful in altcoin speculation. If a developer has a history of creating designs which fail, then that is what matters. I have a history (since 2005) of writing in forums and never producing anything. Before 2005, I had a history of not communicating and producing significant million user commercially successful s/w projects.

They have some good programmers. No doubt they created technology that works. But there are many excellent programmers in this world (although not many in altcoins).

it's one which the crypto-community could learn from in terms of how to potentially reach out beyond the navel-glazing crypto enthusiast.

I agree with that!
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October 27, 2016, 04:39:06 PM
 #1106

possible chance ... NOT probable chance ...

the value is in the SBD ... the steam inflation is insane ... bottom is likely under a penny.

Other than that ... awesome display of blockchain potential.

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brekyrself
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October 27, 2016, 06:41:22 PM
 #1107

I have the feeling something is cooking behind the scenes.  Public road map available?

This same thing happened when BTS 2.0 was being developed, radio silence and less public action on github.  Is it a good or bad sign?!

https://github.com/steemit/steem/graphs/contributors
https://github.com/steemit/steemit.com/graphs/contributors
https://github.com/steemit/fc/graphs/contributors
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October 27, 2016, 08:28:28 PM
 #1108

If well-established bloggers migrated onto Steemit...

They won't. Far upthread, I quoted a well-established blogger who posted a comment (or a blog, I forget) to Steemit, who explained the economics well. Bloggers go where the readers and economies-of-scale are. Medium has 25 million readers.

The hen-and-egg dilemma has to be addressed in a very well thought out way.

It is insufficient just be a good programmer and fake your way into being an experienced Internet marketer.

Plus why would any established blogger abandon their current success to work for pennis on steem? 99% of content there supports 1%- or rather, .01-.1% of the userbase. It's literally the masses working to line the pockets of the few. It's a backwards, top heavy economy.
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October 28, 2016, 10:58:41 PM
 #1109

https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release

"Blockchain Features on the Short Term (this year) roadmap include:

    Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay
    f. Other properties that are currently hardcoded

    Curation Guilds - allow people to pool and share voting power"
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October 29, 2016, 04:06:27 AM
 #1110

    b. Reducing the Vesting Withdraw Period

This could shakeup the equation medium-term, but it will take time to settle as it might initially create more selling pressure than buying demand, which will discourage buying demand perhaps in spiral.
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October 29, 2016, 11:36:40 AM
 #1111

Steem & Steem Power is designed to keep value within the system, yet it is the reason the value leaves.
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October 29, 2016, 03:45:02 PM
 #1112

https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release

"Blockchain Features on the Short Term (this year) roadmap include:

    Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay
    f. Other properties that are currently hardcoded

    Curation Guilds - allow people to pool and share voting power"

If you read the article, they arn't making changes, they are allowing people to VOTE on the changes. I guess it depends on what the whales think as to whether it happens, as they have the heaviest votes.

 
                                . ██████████.
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October 29, 2016, 05:22:42 PM
 #1113

https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release

"Blockchain Features on the Short Term (this year) roadmap include:

    Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay
    f. Other properties that are currently hardcoded

    Curation Guilds - allow people to pool and share voting power"

If you read the article, they arn't making changes, they are allowing people to VOTE on the changes. I guess it depends on what the whales think as to whether it happens, as they have the heaviest votes.

Just like shareholders in a normal public company.

That's all blockchains are is companies and most issue shares daily.  The distribution concept is nothing new, but you guys can't stop talking about this platform nonstop.  There must me more than just the mundane distribution that keeps you from spending hour after hour of your precious lives babbling endless about another public company.

Huh Steem is trying to attract a non crypto following which makes it quite an exciting experiment?  For blockchains to start finding their niches, we need to go beyond sending a store of value from one wallet to another...
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October 29, 2016, 09:36:04 PM
 #1114

https://steemit.com/steem/@steemitblog/announcing-steem-0-14-4-shared-db-preview-release

"Blockchain Features on the Short Term (this year) roadmap include:

    Allowing the community to vote on Blockchain Paramaters such as:
    a. Reducing the Inflation Rate
    b. Reducing the Vesting Withdraw Period
    c. Reducing Vesting rewards
    d. Reducing Witness pay
    f. Other properties that are currently hardcoded

    Curation Guilds - allow people to pool and share voting power"

If you read the article, they arn't making changes, they are allowing people to VOTE on the changes. I guess it depends on what the whales think as to whether it happens, as they have the heaviest votes.

Just like shareholders in a normal public company.

That's all blockchains are is companies and most issue shares daily.  The distribution concept is nothing new, but you guys can't stop talking about this platform nonstop.  There must me more than just the mundane distribution that keeps you from spending hour after hour of your precious lives babbling endless about another public company.

Well if whales are voting I can't see vesting rewards or witness pay reduced. The withdraw period might be shortened though and the inflation rate reduced.

 
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October 30, 2016, 08:41:34 AM
 #1115

Well if whales are voting I can't see vesting rewards or witness pay reduced. The withdraw period might be shortened though and the inflation rate reduced.

And thus my prior comment. But I don't know why would agree to reduce inflation, since they are paid in SP which is protected from inflation.

The vested interests of the whales is why I placed nearly 0 hope on Steem escaping terminal velocity, but maybe they will join together as comrades and make necessary sacrifices.

Dan couldn't have designed it any better a Hotel California. You can check in but you can never check out. Lol.
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October 31, 2016, 01:57:06 PM
 #1116

Follow-up:

Quote from: myself
Quote from: @berniesanders
Just because you have no sense of humor doesn't mean the rest of us don't.

Are you building a serious social media juggernaut or just having fun in a private corner of the Internet with your buddies?

More followups:

https://steemit.com/art/@nonameslefttouse/how-to-fuck-fucking-lessons-for-beginners#@anonymint/re-berniesanders-re-anonymint-re-nonameslefttouse-how-to-fuck-fucking-lessons-for-beginners-20161027t051328982z

Quote from: myself
Quote from: nonameslefttouse60
Social media. Keyword, socializing. Your behavior, anti social. Conclusion, your way won't work, it's a failed business model before it even got off the ground. You're either trolling, or your serious. I looked at your blog, I hope you're not being serious. You may be in the wrong field. Just some food for thought.

There's no problem with you writing this for your buddies and social media circle. There is a problem with a super whale upvoting it and allocating resources from the collective to your little circle which would be offensive or at least not valuable to most others. Socializing good. Socialism bad. Hope you know the difference.

Quote from: myself
Quote from: berniesanders
I'm not building anything. In this case I'm voting on a post I found to be quite humorous and fortunately for me it's perfectly within my rights to do so. Have a great night!

But you are allocating resources from the collective, or let's say your ill-gotten very large stake from the sneaky "premine". Since you've created this top-down power structure and responsibility, then your actions reflect on everyone.
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November 01, 2016, 06:06:29 AM
 #1117


Quote
Dan couldn't have designed it any better a Hotel California. You can check in but you can never check out. Lol.

I really like this line. It's one of your best and I couldn't agree more.

The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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November 01, 2016, 06:44:25 AM
 #1118

to work for pennis on steem

What a typo

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..Real Estate Blockchain Platform..
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nzminer
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November 01, 2016, 06:49:57 AM
 #1119

With the current STEEM price, is anyone even earning anything with it these days??? lol

NEM, THE SECURE, SCALABLE BLOCKCHAIN [NEM.IO] [T.ME/NEMRED]
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November 01, 2016, 03:46:20 PM
 #1120

to work for pennis on steem

What a typo

Epic typo. You should actually do a post on Steemit with that title "to work for pennis on steem"

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