It’s hard to call Steemit a blatant scam but it’s really a classic pyramid scheme, where the founders and very early adopters are making A LOT of money and the opportunity prospects for everyone else are inflated by perverse financial incentives. If you’ve got a lot of Bitcoin that you’re willing to convert it over and invest it in Steem and you’re willing to spend a lot of time gaming their system, it’s probably a decent business opportunity. But it’s really a waste of time if you’re a writer, creative or a researcher.
All references mentioned
Introducing Myself video for Steemit https://www.youtube.com/watch?v=km8IZP0LXdg
4:30 Steemit’s deceptive practice
7:00 Steemit’s supply and demand problem
10:55 Steemit a content farm
16:00 Free speech?
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The inventor of the most clever cocktail toast ever, former participant in a bank robbery, almost died underwater twice, raconteur & smart drug dealer.