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RE: Is Steem a ponzi scheme?

in #steem4 years ago

You bring up some very valid points. IMHO, it is still too early to tell, however if we continue to get large stakeholders circle jerking each other for the benefit of draining rewards then there will not be much left down the line.

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It depends on how much damage the large users cause to the platform, and how many personalities clash because of the nature of the money and payout - and how people (because they will) try to drain the reward pool, but I do think that Steem despite the shenanigans that will happen, will still be a viable platform in the future.

I'm at a loss on how to react to the large stakeholders.

It's not just the large stakeholders, but yes. There's a sizable slice of everyone from whale to plankton that are just here to spam and buy votes to harvest whatever rewards they can.

I think we'd benefit greatly from some changes to the rewards system and vesting schedule, but we also need to develop the culture here and get people (especially whales, but again this applies to everyone) to understand the economics of the system enough to avoid sabotaging their investment with shortsighted voting.

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