Quote from: fraijer on September 26, 2016, 05:09:16 PM

What's all about that STEEM?

Whole web is talking about it are they ultra scamers or what?

Steem to me is confirmed to be a ponzi. The initial distribution and how the economic system works was always clear for me. Steem could've done it right though if they didn't have those crazy whales, witness and mining happening behind curtains.

Basically you buy Steem to support the blockchain payouts and powerdowns from whales and bloggers (that's where the money comes, from you buying Steem, which is almost like donating your money). And what you actually get for buying Steem? Inflation, 100% and 10% if you locked into SP. Which might sound smart, but it's actually much more stupid if you think about it, an inflated crypto with no cap locked for 2 years...

It's so clear to me that I wonder how easy it is to make money in crypto, it scares me.