It's not a ponzi scheme, it's a socially funded blog system

• Steemit users get rewards for posting
• Steem holders/investors pay for it

Steem holders buy Steem for anticipation of future value, however this is not just pure speculation. In the future Steemit will have many more features just like facebook , even perhaps a sustainable advertising system.


Therefore I would classify STEEM as a social currency. In the future you can even built a financial system on it, like trading,  lending, and so on. A true P2P commerce with a social aspect to it. It will be sustainable.


It will be big, and it is true that today STEEM's value is largely speculative, in the future there will be a lot of value in it. So those that buy STEEM now, probably anticipate this.

This is how STEEM's economics work. I am an economic expert with 10+ years of experience in financial markets/ economics. I know what I am talking about.

https://steemit.com/@profitgenerator