Steem pyramid scheme revealed

[RamesesLabs]

I kinda got that feeling from the first time I used it. Not worth my time to post content to there site if they're not sharing revenues. That's the whole point of decentralization is to get rid of corruption. No different than the stock exchange though as far as scamming is concerned.

[1715144225]

1715144225

[Usuadog]

Steem is crashes these days, it is worthless at all. Many retarded use this program to cheat free money, pity on them, especially bts creator dan

If you guys didn't know that most altcoins including Steem was a pyramid scheme then there is nothing that will make you stop from investing in another scheme.

[crypto-curious]

But they certainly have picked up "steem" recently 

[Red_Sanford]

Steem and bitshares had great potential but they unfairly favor the early adopters ( miners) but EOS was done right. If you look at bitcoin it similarly favored the early adopters as well. They are the bitcoin evangelists. The people getting into bitcoin now are buying from the early adopters and the rich miners

[princessfalcon]

Ethereum or any gold cin wit higher volume truly if you find bloodstream or FUD on the streets. And persistence for that pump motor that will occur eventually ho

[cryptomarijuana]

Thats why steem coin wasnt worth it to buy until now the price is still less than $2 people knows what is ponzi scams.

[Balmain]

Thats why steem coin wasnt worth it to buy until now the price is still less than $2 people knows what is ponzi scams.

If Steem value drop to 10-15 cents we can say about buying opportunity but $1 is already high. Most coins belong to small circle and they produce more and more for themselves. This coin is not dead yet because of greater fool theory. They always find another guy to sell coins. Steem is the definition of ponzi.

[NaissuR]

So many coins are just ponzi schemes now. It can actually be argued that the whole crypto economy is a ponzi bubble, waiting to burst. I guess time will tell if they're right or not.

how can you say that when crypto is being accepted by more and more industries
the whole system cant be ponzi bubble -.- not more than other markets anyway

[chryspano]

why have bitcoin instead of cash. I do not believe i'm ale to tae this serious and thats only because there are to a lot of people who believes bitcoins are for entertainment but they're really worth actual money do dont believe coins are useless because the do not.bk

Stupid newbie bots are swarming the forum lately, take cover

[jbautistangina]

Steem shitcoin is a well crafted ponzi scheme,so dont invest or even try yo trade this shitcoin stay away if you can.

[toddy47]

So who is still investing and buying this coin? All this time and problems and yet people still invest in it?

[CornCube]

Also just noticed the Alexa rating of Steemit.com is.....#2,085...is this rigged?  That's fucking yuge.

http://www.alexa.com/siteinfo/steemit.com

Medium is 10X more popular. Reddit is 200X more. But Steem is gaining on them faster.

The bounce rate, pageviews, and time on site (aka stickiness) of Steemit is better than Medium but worse than Reddit.

Looks like we underestimated how big Steemit could get while having a dysfunctional economic model.

I suspect most users do not realize its a scam:

I created account with them in last month, however making money from them was hard and now I am realizing from this thread they are scams. I also got suspected why they pay huge cash for such crappy posts on steemit and this thread made me everything to get understand.

It’s not surprising to me that a site where people can do something they do anyway, but have the chance of earning something, is growing. Medium actually sucks in many ways.

Additionally it’s associated with Bitcoin and blockchains, so this is a new phenomenon sweeping the world right now and (eventually) everybody will prefer to be a on blockchain version of every site, including “Facechain”.

Also the growth will tend to increase when the Steem price is higher, because blogging rewards will be higher.

But how does this factor into the price of native tokens?  […] but since you're not required to buy coins to read it or post on it, it would have 0 effect on the coin's market cap heh.  They could put up advertising and require advertisers to buy and pay in Steem tokens, but that's obviously not decentralized (not that anyone running Steemit cares).

You need STEEM to power it up and vote for your sock puppets and other ways of extracting the debasement of the system to yourself at a proportionally favorable rate compared to those with less STEEM.

A system which is extracting value and not generating value, eventually fails when the rate of influx of new participants slows. I doubt that will happen too soon unless some project effectively does everything better and siphons off the interest in Steem.

[endlasuresh]

80% is a big one. I have investedn in steem and i believed in it. Its just sad how some developers are too greedy. They only want to get all our money. This makes me want to stop with the alts and just hold my bitcoin, then i won't be scammed.

Well, we should have all seen it coming. And every time it looked like it was getting worse, we were all told something new to keep our hopes up. I stopped Steemit long ago thankfully. I was writing original content and investing so much time in it, but kept getting bypassed by some new user who tripled reputation in 3 weeks thanks to a profile photo of a skimpy girl posting selfies and earning $50 for every zero content post.

That is when I said. Damn this system, it does not work.

I created account with them in last month, however making money from them was hard and now I am realizing from this thread they are scams. I also got suspected why they pay huge cash for such crappy posts on steemit and this thread made me everything to get understand.

[popoypalaboy03]

Even if they do own a lot of coins that doesn't mean it's a scam. Steem is doing it's own part and as it is the blockchain, everyone can verify who owns what and that could be done from the very beggining. So coming out and saying that Steem is a scam because you figured out that the owners own a lot of it's coins, is just wrong. They already offer a quite good service and people seem to like getting paid for typing stuff, so if they are happy with it let them keep on doing it, and if you're not happy with it just don't get involved, you have nothing to lose if you don't any Steem coins so no worries.

[Troilo]

I didn't invest 1 cent into steemit, and I made around 12'000$ for blogging. Like I said, I never put money into it! You just have to create some content that people enjoy, and even if you do an amazing work, you could not get noticed if you don't make some contacts with people, you have to create a network of friends that will support each other. It's a lot of work and dedication, like in real life: If you do some amazing music or art, and you keep doing it without sharing it, nobody will notice you! Getting money is not easy, even on steemit. Most people saying it's a ponzi are just lazy people that didn't manage to make easy money. And if steemit is a scam, it means that all the concept of blockchain is a scam too. And therefor, banks are scam too. (I would more believe the last statement) Sorry if my english is bad. Haha.

Cheers!

[CoinHoarder]

I didn't invest 1 cent into steemit, and I made around 12'000$ for blogging. Like I said, I never put money into it! You just have to create some content that people enjoy, and even if you do an amazing work, you could not get noticed if you don't make some contacts with people, you have to create a network of friends that will support each other. It's a lot of work and dedication, like in real life: If you do some amazing music or art, and you keep doing it without sharing it, nobody will notice you! Getting money is not easy, even on steemit. Most people saying it's a ponzi are just lazy people that didn't manage to make easy money. And if steemit is a scam, it means that all the concept of blockchain is a scam too. And therefor, banks are scam too. (I would more believe the last statement) Sorry if my english is bad. Haha.

Cheers!

That is impressive. Good job!

I agree most people posting ITT negatively are ones that are probably too lazy to profit off of Steem, and/or are looking to get rich quick and get frustrated.

One of the only ones posting recently that has valid criticisms is CornCube. It is most definitely a pyramid scheme that will eventually collapse, but it will probably get crazy big before that happens. It is possible that in that time they can create a profitable business model by leveraging their userbase that is growing rapidly, but I see that as kind of a "hail mary".

[cryptoclock-ro]

Greetings to everyone!
There is a pretty new anonymous cryptocoin which has a huge potential and is currently at a low price.
Is called BitcoinZ and is inspired from ZCash. Here is a video about it and an interactive explanation of the zkSNARKS algorithm:

https://youtu.be/3hVG888tOpY

If you have some free time, please check it out.
Have a nice day!

[xiaoyum]

I don't really mind steem being pyramid ish scheme at all. All my life I have seen many pyramid schemes that hardly create any content, service. Steem is doing good creating blogging content and its useful.

[Fredomago]

I don't really mind steem being pyramid ish scheme at all. All my life I have seen many pyramid schemes that hardly create any content, service. Steem is doing good creating blogging content and its useful.

With good project and support I think being a pyramid scheme might still give investors chances to earn out from this project, Steem have its own way to be well developed people might find some negative side but still there's project which progressing and I guess that's the reason why there's still supports inside the exchange.

[smooth]

Guys, there is literally nothing about Steem that is an actual pyramid scheme, any more so than any other cryptocurrency (and they're not either, generally speaking with perhaps a few exceptions, even when they are premines, ICOs, and another scams). "Pyramid scheme" means a specific thing which is a structured system where later entrants pay those 'above' them on the pyramid. Nothing even remotely like that exists in Steem. There is no pyramid, no hierarchal structure of any kind, and no one pays anyone else.

The title of this thread was basically trolling and/or ignorance. If you like Steem, great, if you don't like it, that's fine too, but please let's forget about the 'pyramid scheme' nonsense already after almost 3 years. That doesn't mean there aren't legitimate criticisms, I have plenty. "Pyramid scheme" isn't one of them.