There are many ways to look at this, but essentially it's a stake based system. if you bought a single share in BT would you expect a large dividend every six months?
Compared to how much I have invested in fiat to buy STEEM you are actually doing much better than me per post.
Everywhere else gives you a big nothing for your efforts, but you do get something here, if you can produce content.
Probably not what you want to hear, but like everywhere else.. investing some money helps a great deal and shows commitment.
And that's the issue right there. I have never used fiat to buy steem and never will. That's exactly what they want you to do and the reason why Steemit is accused of being a Ponzi scheme. "Hmm? I'm not earning much, I know, I'll buy some steem because clearly, I can't earn it like I was promised when I joined." KerChing!
I don't agree, if it's a Ponzi scheme.. A) It would be closed down now.. just like BitConnect, B) I would be making referral cash from others, I'm not.
Ponzi's are really not looked at fondly especially in the US, just look at past history. They get closed down, decentralised or otherwise.
Oh, I wouldn't be silly enough to accuse Steem of being a Ponzi scheme myself but let's look at it from an outsiders point of view. You have a very small group of individuals who hold a vast amount of steem which thus generates a very large reward for them based on the activity of those down the food chain. The HF21 fork clearly states that those in a certain bracket will earn substantially more off the back of all the upvotes from those who are not in that bracket and are likely to never achieve that level given that it has been designed to pay them even less now. But they are encouraged to stay with the platform by being assured that if they vote regular it will somehow benefit them in the long run. I'm not quite sure how that works? The only ones I see benefiting are those higher up the food chain. And then there are people like yourself who invest their own fiat in an attempt to enhance their accounts because the long slog of trying to build up your reputation ect. doesn't really work not unless your willing to wait something like 10 years to get 5 points.
I don't know all the technical in's and out's of Steem(it) but from what I've observed its Actvity that makes it work a bit like Bitcoin mining I liken it to shaking the bush as long as users keep shaking the bush the whales seem to be doing very well thank you very much. LOL
Well that's good because I have already lost cash in BitConnect, my lovely introduction to crypto.
Most of these are $0.00 votes... have a look and see.
Just how am I supposed to retire with all these $0.00's?
That's easy... they get substantially more now... 25% - 45%. Do you know curation yields you around 5-6% APR. Thats before HF21, it will be around 8-9% now. Show me a stock that yields that kind of rate.
That's unless STEEM goes down even more, but Marks and Spencers shares haven't done too well either.
Yes it's a gamble, but well worth it I think.
Curation is now well worth it. Think about that figure I mentioned.
Oh god yeah. Curation ergo resteems are clearly the way forward which is funny because I was begging for people to do that last year. LOL
Did you intentionally vote for this nonsense? https://steemit.com/c/@bigdeej/c
His stuff is likely to be cancelled out by the various big accounts that are cleaning up abuse these days. Shame they did not doing it earlier, but better late than never.