RE: Was the Launch of Steem a Scam or the Only Legal Way? - Thoughts on Steem by Charlie Shrem a Week Later by tarantulaz

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· @tarantulaz ·
They got too many tokens before the actual launch into PoS. This way they control most of the system, hence they can even sensor people. If they see users like you, who will bring more people in, due to their influence in the crypto communities, they will give you part of their shares by voting you. If they vote you, you gain a lot of money, without actually deserving it. No damn article, especially on steem it, actually deserves 10.000$+. Satoshi might control 1/15 of the supply, but : 

1. He doesn't control mining and he can't. They can vote themselves to forge/mine/validate transactions based on their DPoS model.
2. He doesn't control any social networks build on top of Bitcoin like the YoursNetwork.

Also Bytemaster, aka Dan Larimer scammed the BitShares users countless times in many ways and created a financially stupid DAO/blockchain
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vote details (6)
@charlieshrem ·
$31.82
" If they see users like you, who will bring more people in, due to their influence in the crypto communities, they will give you part of their shares by voting you. If they vote you, you gain a lot of money, without actually deserving it." 

Wether is undeserving is your opinion but I see it like this. Now I have alot of Steem Power and I'm financially invested in the success of Steem. I'm going to go out and get others to use it and author content. They are using myself and others for marketing.
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vote details (28)
@tarantulaz · (edited)
$0.04
But that's how a good ponzi works. At this moment Steemit is extremely centralized and if they don't like something, it disappears. It is a centralised website and centralised permissioned blockchain. I hope that with your intelligence and knowledge, that you can see that PoS systems are problematic and especially if the founders or whoever else holds a lot of power in the system.

I am not saying an article is worthless, but it can't be worth that much, on a platform that has no source of income i.e advertisments. Steem is based totally on speculation and it distributes money from people that have just bought steem and steem dollars to the previous people. 

To put it this way : with no new users buying Steem or SBD, the platform can't survive. And that's what a ponzi is. But it is a great ponzi, because everyone is making lots of money, thinking that they are in a decentrilised platform, producing something amazing, when what actually happens is that they talk about how great steem is and Dan is giving them money.

I am sorry Charlie, but the same think that put you in prison, apart from the assholes in the government, is your greed. You want the money, you got some money and that's sweet. So it doesn't matter if it is illegal or the source doesn't make sense (i.e making money by taxing people on the communist steemit), you want it.
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vote details (8)
@samupaha ·
$1.58
>To put it this way : with no new users buying Steem or SBD, the platform can't survive.

Of course it can. It's based on inflation, which is just a way of redistributing wealth. If the market cap stays the same, it just means that those who get the new money benefit at the expense of those who own the old money.
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@lariat ·
$3.38
"An article can't be worth X?"
What ever happened to subjective value theory? Of course it can. Facebook accepted pictures and videos for any customer that signed up. They paid for hard drive space for cat pictures and pictures of people's meals for years before monitizing their investment.  They were paying for customer content, they just we're paying Seagate ..not you.
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vote details (2)
@mindover ·
$0.58
@tarantulaz,  wasn't that the idea behind the liquidity rewards? I know they removed liquidity rewards, but if they put it back into place , it wouldn't matter if new users stopped buying in because there would be people being rewarded for maintaining liquidity. Right?
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@cryptosi ·
I was with you @tarantulaz up until the 'greed' and 'prison' part. The distribution on the Steem platform is a problem, and it seems that all the most sensible arguments address this. I believe Charlie is also correct from a self-indulgent point of view, the developers do deserve something for their work. I think they need to find a way to bring more income to the platform, because otherwise the inequality not only disheartens new users, but it also removes the value of their investment very quickly. if you invested $1000 last month your upvote was worth $0.01, that same account will only have $0.004 now and that will be a massive redflag to many future investors if that trend continues.
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vote details (1)
@marco-delsalto ·
steemit will die without users..  your right so will facebook,reddit..ect.. the money is created from user activity, and it's working.. activite in the network/just like transactions solving is the new mining.  Craigslist has over 200 million post a month worldwide.. if you add reputation to craigslist .. boom you have a  perfect like steemit economy ready to be taken over and be  disrupted.
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@non-judgemental ·
Well explained. Couldn't agree with you more. Its now clear that some WHALES have been powering down since the end of July at least. Something needs to be done with the distribution of our hard earned money that we invested in the platform. Frankly, I don't prefer that my money go to a mediocre post, that will eventially cash it out.  The price of steem is plummeting as I am writing..
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@l0k1 ·
$0.59
I think that a lot of people see these numbers at the bottom of posts and comments and think somehow that the poster has this money and they can run off and buy themselves a maserati or something. Or have a big weekend with hookers and coke perhaps. But remember, it splits between all 3 tokens, in fact only 1/3 or so, maybe less, can be instantly sold, the rest you wait a week to move it to the tradeable token, and the Steem Power, you only get that back a little at a time over a period of 2 years.

This is an intentional design and the mania about the subject of post rewards never takes this into account. The purpose of this is to automatically give you a stake in continuing to support the system because if it falls, your vested stakes will decline in value.
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vote details (4)
@cryptosi · (edited)
You sir, are clearly paying too much for your hookers and coke! I know for an absolute fact that charlie can buy at least 7 hookers and 8 kilos of Columbian finest with the money from this post alone!
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@icecreamyolo ·
Yep, and it works untill nobody buys steem on the altcoin exchanges.
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@samupaha ·
$0.76
>They got too many tokens before the actual launch into PoS.

Nobody thinks that a normal company should give most of their shares away to people who do nothing for it. That same principle should be applied to blockchains, too.

>This way they control most of the system, hence they can even sensor people.

Because this is built on a blockchain, nothing can't be censored.

>Also Bytemaster, aka Dan Larimer scammed the BitShares users countless times in many ways and created a financially stupid DAO/blockchain

This is just bullshit. Bitshares 2.0 is perhaps the best DAO so far. The biggest problem with it has been too much low-quality shareholders who don't understand how it is supposed to work.

As we have seen with Steem, Dan can design very fine blockchain when he has a good team and no opposition from other shareholders (because he and his team has the majority of the shares).
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@intelliguy · (edited)
$9.81
We're not talking about Bitshares, and past  projects have no bearing on current or future projects. At least Dan is not hiding behind anonyimity, because if he did, that would be more worthy of scam accusations. He's laid out his life in public for everyone to see.  Unfortunately when he makes a few mistakes, he gets roasted for it, as if he is not suppose to be human.  I have yet to see people held at gunpoint to get involved in any of Dan's projects.  We need to stop spoon feeding the public.  If they get involved in something it is at their own risk and peril.   Now can we get on with our lives, and stop wasting so much energy on this nonsense?

Want to know why Satoshi Nakamoto created Bitcoin under an alias?

Want to know why Satoshi Nakamoto abandoned Bitcoin to work on other projects?

It is because of this kind of roasting people do with Dan.  It's idiotic and serves no purpose.
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@rainman ·
$1.63
You discredit yourself and your arguments by calling Bitshares a scam, as it quite clearly never was a scam.

Did I (and most others) lose lots of money on Bitshares so far? Yes most certainly.

Did Bitshares live up to its potential so far? No.

Did Dan over promise and under-deliver? Probably.

Does that make it a scam? Definitely not..

Bitshares is still alive with lots of exciting developments, so there's still hope there.
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vote details (17)
@blakemiles84 ·
> He doesn't control any social networks build on top of Bitcoin like the YoursNetwork.

Ah... pull back a bit on your underlying intent. It's showing.
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vote details (2)
@somedude ·
Censor, censor
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