I have had enough time to examine it, and I believe that Steemit isn't a complete ponzi scheme, as Tone Vays says. I do however believe it is a partial ponzi scheme, because there seems to be no control over price value, other than just hope for the best.I realize price value is related to participation level, up voting, down voting, etc.But this shouldn't determine exclusively the value.
I say this because I got the initial bonus 10 or 15 or whatever it was, and then I also deposited 0.05 btc (which was worth around $30.00 at the time).It was at 54 dollars.Now, few months later, it's worth 4 dollars and change (glad I didn't deposit a large sum of btc :-) This isn't a massive loss or anything, but it proves my point: the value dropped to nothing way to fast! (Even rounding it to an even 5 dollars, that's a roughly 80-90 % loss on initial investment!) A system such as this should not lose that much value in this short of time period.
Look, not trying to accuse anyone of being a crook, a cheat or anything. Maybe it's just a flaw in the methodology of the system as it was developed, as it exists.But the fact is that anything that loses that much that fast isn't worth investing anymore in.