cryptoctopus

Check the dictionary...there is no multilevel marketing happening there. They don't even have 1 level since there isn't even a referral program. It's a social network, of course he will talk about the network effect.

This tread is full of ignorant sourpuss who missed the boat.

What people fail to see it that steemit is only 1 of many many websites being built on top of that blockchain. Youtube, twitter, instagram...they can all be built in their own little silos. With SMTs they will even be able to have their own tokens with their own economic models.

Get your head around it. Steemit alone will soon pass you by on Alexa. https://www.alexa.com/siteinfo/ycombinator.com / https://www.alexa.com/siteinfo/steemit.com

Anybody who has STEEM benefits from increasing the network effect, not just him silly. Bitcoin and Ethereum has the exact same incentive to do so.

The idea is to create thousands of micro community who have their own ideas of where their communities wants to go. They can use their own tokens with their own economics if they happen to not agree with: 1. The inflation rate 2. The curation reward curve 3. The initial distribution

you are being ridiculous. He's explaining how the value flow by introducing the ability for people to create their own social media tokens.

>It is time we stopped pretending these platforms are trust free, and instead recognize that we will always end up trusting someone with the power to fix bugs. The power to fix bugs is the power to destroy.

I was talking about this with my dad. It feels like there is no way to escape the Greek classics on political philosophy. Whenever decision making and ressources are involved, we have to deal with politics and governance. In the case of blockchain technology, the devs are the legislators, the "smart" contracts the legislations, etc.

Blockchain forces us to reconsider the way we come to consensus but to this day, we haven't been able to find an alternative to what was brought forward thousands of years ago.