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RE: So, "What's Going on Again" in Crypto?! Here's a Simple Answer
Very interesting. It does seem a bit like a Ponzi scheme at times, but I think that is because money is involved. With a Ponzi scheme people get fleeced when they put money in. I will feel bad if my efforts and time turn out to be for naught, but at least I can still feed myself and feel good about my contribution.
Ponzi is an incendiary word which has little meaning when it’s applied to Steemit. I hate using it. Can Steemit fail? Of course it can. Is that probable? No! But, its success is predicated on on a number of factors. However, the Ponzi Scheme arguments seem to boil down to one general prognosis. “Steemit will not be able to maintain ongoing Steemian growth at a level sufficient enough to support the platform and as a result the Steemit will collapse.” Actually there may be some truth in that. However, think of Steemit as a living, breathing entity. It will grow and evolve. We haven’t even scratched the surface in North America or Europe let alone India, African, Asia, orChina. And for some reason these naysayers never seem to mention the enterprise (business) opportunities that will come, in my opinion, thanks to SMTs soon to be released. Then there are an array of Humanitarian opportunities both for individuals and corporation. Remember Steem and Steemit are babies! Bitcoin ran the same gauntlet and survived. So, cheer up and let the platform mature. I believe good things will happen, Just make sure you have some Steem holdings so you can share in the rise in Steem value that will ultimately occur once we hit the ground running in the fiat world! Stay well!