Who joined steemit?

Tom Zander

Active Member
Jun 2, 2016
What do you think about steemit?

I've noticed lots of big Bitcoin people there and I just wrote my introduction post.

Is this a get-rich-quick scheme? Or something more long lasting?
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Justus Ranvier

Active Member
Aug 28, 2015
If it's not a scam, then someone went to a lot of unnecessary trouble to build something legitimate and then give it all the tell-tale characteristics of a scam for some reason.

Occam's Razor points to it being a scam.
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Staff member
Dec 16, 2015
Haven't joined, and haven't had time to really form an opinion. I don't condemn people for posting on there though - if it turns out to be a scam then I think it will just be a precursor to a better platform.


Active Member
Feb 26, 2016
newbies are not asked to put any money in, they instead might get paid. It is a backwards ponzi

whitepaper https://steem.io/SteemWhitePaper.pdf has some very interesting concepts and my feeling is that it is all dependent on userbase growth

clearly the $1000 payouts for posts cannot be sustained, but at scale $10 per post likely can be. So the question is how will reddit/facebook fare against a competitor without advertising that is paying for posts?

there is a non-zero chance of steemit success. What exactly this chance of success is, nobody knows.

As to the initial adopters having disproprotionate share, well what crypto can say otherwise? Over time the majority account is slated to be given away as signup bonuses and at that point the richlist will still be concentrated, but not more than bitcoin

ignore steemit at the risk of missing out on the first mass market crypto. It isnt perfect, but it does seem to be better than the competition and leads its category for now.


P.S. I might be biased toward steemit as my intro post received $15,000 in upvotes, but I view that as a consulting fee and it was enough for me to investigate further to identify its weak spots. My typical post now averages close to $7.77
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Well-Known Member
Aug 28, 2015
there is a non-zero chance of steemit success. What exactly this chance of success is, nobody knows.
Good post, but this is wrong. Nobody knows if it will be a success. But there is no such thing as a 'chance'. There are no contingents, neither for the past nor the future.

For Diodorus, if a future event is not going to happen, then it was true in the past that it would not happen. Since every past truth is necessary (proposition 1), it was necessary that in the past it would not happen. Since the impossible cannot follow from the possible (proposition 2), it must have always been impossible for the event to occur. Therefore if something will not be true, it will never be possible for it to be true, and thus proposition 3 is shown to be false.

The idea is interesting and an example what the creative usage of blockchains / cryptocurrencies can do.

But the reality is terrible.

First there have been a lot of circlejerking-posts about steemit, because the founders did heavily upvote everything good about steemit.

Secondly there was a hack that allowed some actors to withdraw the "steem dollars" of other people's accounts. Steemit-People recovered some by resetting accounts. Since they claimed the user's password is some passphrase-like foundation of the private keys this should be not possible at all without forking the chain. So it was confusing (at best)

I publshed two articles on steemit, got some upvotes and a price of ~1.000$. I was happy, but in the end I was not able to withdraw more than 60$. First the hack (-300$), than after a first withdraw of Steem worth ~0.1 btc, I can just withdraw 2.45 steem a week, which are some cents.

So I don't think steem is a working thing at all