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RE: Is Steem a ponzi scheme?

in #steem4 years ago

I see, so it very much is so that Steemit does have the potential to fall into becoming a Ponzi scheme if the current atmosphere of circle-jerking continues? I really don't want that to happen, but I also don't know what more the minnows can do to prevent it, other than the fair use of upvote bots, and even then, they are no match for someone like @haejin. (That and I am just kind of morally opposed to them, which probably sounds dumb.) I just want to build this awesome utopian idea of people getting paid for their time, but what Libertarians and utopian idealists fail to grasp in these dreams of the future, is that we can try to change the power dynamic, but the people behind it are still people. The same people that have been coerced, convinced, bribed and bamboozled for millennia. I think it's far too idealistic to expect such a dynamic change from humanity in asking those who have lots of power and money to "share" or to "build". As much as I love this platform, and am willing to give it my all, I can see it easily collapsing due to the impact of merely humans existing as themselves. We can't have anything nice and the world is a toilet. (I am also finding that pain meds make me extremely nihilist and incapable of holding back. Surry bout that.) Thanks for the upvote. It's been a rough week.


Yes, there's a very real chance it could degenerate into a Ponzi scheme and collapse on itself. If it does a lot of whales will lose a lot of money, and everyone will lose what could otherwise grow as a great community.

The best chance I see to avoid that is to educate people, particularly those who have the most to lose. We need the whales to unite to save their investments, and by doing so save the community.

I think in the long run we'll need both education and some protocol changes, but we can't get the protocol changes approved without the education anyway, so education is the place to start. Everyone needs to know that this doesn't have to be a Ponzi scheme, but that with enough shortsighted voting that's exactly what it becomes.

I decided to make an easy to understand video about ponzi schemes and the danger that Steemit is in! You are right, education is the way to go! I will do my best to reach out to my followers and beyond and try to get the attention of some whales! :)

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