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I Ran Away From Steemit (and You Should Too)
Steemit’s public image is somewhere between crypto Mecca, a full on joke, or an experiment that is going to fail at any given moment.
It was almost too good to be true, a blockchain based platform where you could get paid to blog. I was in love, but as I dove deeper into the rabbit hole I saw all the signs of a crazy situation that was ripe for implosion so I cashed out and ran for the hills. Much to the ire of my former Steemit comrades, I had now turned my back on the program which I had once sung the praises of. Unlike some false prophets, however, I’m here today to explain the facts I once ignored, and the knowledge I gained as a result of being of Steemit addict.
it doesn’t help products that are rolled out to already start their market race by stepping all over themselves.
First is first, unlike almost all other cryptocurrencies, Steemit is inflationary and it says so directly on its website. While the Steem tokens are also pegged to Steem Dollars, this inflationary currency also behaves as a pseudo-commodity in the form of Steem Power. These different mechanisms of investing in and trading tokens might be what makes the Steemit blockchain so…
