He acquired nearly 1% back during the "sneaky mine" phase. You can understand why he wasn't willing to attack this coin the way he normally attacks pump and dump scams. That $millions bought his "I am not omniscient about the potential future not being a disaster" attitude.
Wow! Do you think he would jump of a bridge for steems?
No. He is balancing his rationality with his vested interest. He hasn't suddenly turned into a pumper of shitcoins. He has a valid point that we can't precisely know the plans Steemit Inc. has for morphing the future of this project.
But I don't even see what the revenue plan could be
I am hoping for some analysis from smooth on the possible revenue scheme that doesn't make the math so horrible as I showed.
To me, steem sounds a little bit too good to be true. Ya know like Santa pay you a visit everyday kinda thing. I wish the steem god could make money rain tho.
Why I am not investing in steem is because the whole thingy makes my money look cheap. Why would I invest my pay cheque into steem when i can make thousands by posting a photo of my dog or vacation?
Good point!
How can smooth feel there is any meritocracy in Altcoin land, when he can earn $millions just from mining a "sneaky mine" and no real work nor innovation was accomplished. Any way I am not communist, therefor I salute his gaming of the sneaking mine and earning himself $millions.
Of course Steemit can't work out, because we can't give away for free what isn't free. Someone has to pay. If you invest into SP, you will be paying through your nose for Dan's pyramid scheme.
So many people can create a clone of a blogging site. Hell I could do that within a couple of months with PHP and SQL. That doesn't justify $millions in profit. There is nothing that was invented that requires a block chain. Everything they are doing in Steemit could be done with a corporate database. After all, they will need to make an income model and it is being run as a corporation any way, with 80% of the tokens was originally held by the CEO of Steemit Inc at the launch.
You are right, there will always be victims in this kinda free money scheme.
How much do they own now u know? I was reading the update, sounds like the steem team welcoms with open arms FBI cooperation lol