This idea appeared in my mind two days ago when STEEM exchange rate jumped 20x in several days.
My scenario of STEEMit pyramid is as follow:
The authors write articles and actively communicate and attract new visitors.
STEEM growing to $ 2.
Authors make money, and even more actively talk about the platform in another social networks.
New members come to the platform, realize that you can earn STEEM only having a high level of STEEM POWER. You can write a lot to achieve it, and you can buy. At the rate of $ 3 . You are not forced to, but you want to buy, because you want to earn more. Because you see how others earn. But you don't
When you withdraw money, you lose STEEM Power, and earn less. This is a psychological (and economic) hook, so that you do not withdraw money and kept them for ages.
STEEM Rate increases to $ 5.
Magazines and newspapers are writing about STEEM as it's the future of social networks.
More and more authors are coming, they are writing and buying STEEM to turn them into STEEM power.
Someone asks for withdrawal. Maybe not only one. Maybe thousand people ask for withdrawal. But the summ of withdrawals is small - no one wants to lose their "power".
Steem increases to $ 10.
Many authors are beginning to take their money from system, but the pyramid STEEM is not in terrible situation - the flow of newcomers, actively buying currency, is more than those who cashed. Plus exchange rate are rocketing to the sky.
STEEM reaches the psychological level $ 100
"Serious" investors and traders are beginning to invest . All are bulls. And the exchange rate is growing.
And what will happen when the amount of money to withdraw exceeds the amount of input?
Here, in Russia, we have the man who knows answer.
Many people in the world know him:
STEEM exchange rate are falling то $1 in one day. Payments will be made, but for every yours $ 100 you will receive 10 cents. To make it not hurt. At least something. You've written a lot here. Don't cry...
STEEM is cryptocurrency so there are no state regulation, the complete triumph of anarchy, there is no one to complain.
Organizers are writing a message that they can no longer maintain the site, because exchange rate has fallen dramaticly and they declare themselves kriptobankrupts.
The end.
That's all, folks.
P.S. I'm ready to discuss with you my version of STEEMit's future.
And give me a penny, please.
I've written a lot :)))