This is now odd that it's like I personally offended you.

Not really. I don't even know who you are. I'm just trying to educate anyone who reads this. Believe me, you're not the first one to labor under the misconceptions you're currently laboring under. A lot of Hive (earlier Steem) users do not have a clear picture of how the system works. It's something so novel and complex that when people encounter it, they do not understand it and what people don't understand they are often bothered by, which is when they ascribe many negative labels to it that they are familiar with.

If you follow the value, you'll notice that it flows from the speculators who hold the 200 million liquid coins of which 100 are on exchanges to Hive Power holders who control the reward pool. Hive inflation is like an eight percent annual tax paid by the speculators operating on exchanges. They pay it gladly because the immense volatility of the token completely dwarfs it. The difference between the all-time-low of STEEM (7 cents) and its all-time-high ($8.5) is 124-fold. Hive, which is a continuation of Steem, is not a system where earlier joiners make money on the back of those who join later. It's a system where all HP holders make money off the back of speculators who are an entirely different crowd.

The account creation referral system is a very new thing and it is a very small part of the whole. The value gained by that does not go into the pockets of the large stakeholders but anyone who is successful at onboarding other successful onboarders.

YES I WILL CALL IT MLM.

[...]

That's that.

It's within your rights to stay ignorant. I'm talking not only to you but anyone who will read this in the future.