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RE: Why its good Steemit didnt have ICO and has no Ads - Based on Case of MyCellium
Hello, I may be wrong but I'm thinking that if Steemit is not selling ads, and doesn't have companies paying for the attention of Steemers, then all that is happening is that the money from investors is being redistributed to people who publish and vote and then it's all a huge ponzi scheme. Because there's no real demand for the Token... I'd actually feel more comfortable seeing ads and knowing that someone is consuming steem and trying to buy our attention. The problem I see with promoting content is that people don't go often enough to that section and so there's no real benefit for paying for that... If I'm wrong, please correct me, I honestly want to know (if it's not a ponzi scheme).
Regards
Ponzi schemes promise high returns, The Steem blockchain does not promise anything, Ponzies require that you "invest". You are not required to invest in Steem to earn the currency. The Steem currency itself has value:
1-Three second confirmations of transactions (irreversible in about 40 seconds).
2-No transaction fees.
3-Built in escrow capabilities on the blockchain.
4-The blockchain can handle thousands or tens of thousands of transactions per second (if not more).
To solidify the value of the currency (and not depend on the speculative value of it) the community needs to start using it more and more as a payment method for goods an services. And also direct Fiat bridges need to be opened.
If you want to give money to authors ytou like (ie me) you buy SP to upvote them, if you want to kill people you dont like (ie some people dont like gavvet user) then you buy SP to downvote them.
There is also traders who never post or come here but trade the coin for profits.
Go on Poloniex and watch any number of coins being traded (for not a lot of good reasons) - Steemit is what differentiates Steem from other Crypto's..
Steemit is hard to "do". It takes time to get traction - but eventually people give YOU money...
If someone on here asks you to give them money out of your pocket.. thats something different.