RE: IS STEEMIT A SCAM? by theoretical

View this thread on steempeak.com

Viewing a response to: @martinwilson20/re-chaching-is-steemit-a-scam-20160812t205642135z

· @theoretical ·
- At the blockchain level, there is a fee for creating a new account.
- That fee is currently 3 STEEM.
- The steemit.com website pays the registration fee for most users. In practice, the fee only applies to experts who create an account by interfacing directly with the blockchain.
- The fee is retained by the newly created account as its initial Steem Power balance.

Some questions for you to consider:

- Is it a scam if new users are paid to sign up?
- How do you keep an abuser from registering a million accounts without a fee? We can't do what most other sites do (e.g. rate limiting new account creation per IP address, email verification, CAPTCHA) because those techniques can't be done on a blockchain.

We've tried *very hard* to minimize the number of fees in the system.
👍  
properties (23)
post_id577,656
authortheoretical
permlinkre-martinwilson20-re-chaching-is-steemit-a-scam-20160812t211950916z
categorysteemit
json_metadata"{"tags": ["steemit"]}"
created2016-08-12 21:19:51
last_update2016-08-12 21:19:51
depth2
children0
net_rshares50,122,037
last_payout2016-09-12 09:55:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 SBD
curator_payout_value0.000 SBD
pending_payout_value0.000 SBD
promoted0.000 SBD
body_length785
author_reputation30,122,352,669,248
root_title"IS STEEMIT A SCAM?"
beneficiaries[]
max_accepted_payout1,000,000.000 SBD
percent_steem_dollars10,000
author_curate_reward""
vote details (1)