There was a hack recently….
J. Chitty
11

I agree J, too many people look at things like crypto currencies and platforms like Steemit as being another way to make a fast buck, but digital currencies are a complicated thing, there’s deep financials involved, and those who take the time to learn the ropes are the ones who’re most likely to be rewarded for their efforts. Bitcoin has seen a staggering rise in value this year, and let’s face it, people are definitely cashing in on this trade just as they often do in the forex industry.

As for Steemit, I still don’t trust it. Again, there revenues are earned by investors and gambling with digital currencies, this is clearly not a sustainable platform by any means. They will have to find some legitimate and viable form of revenue, otherwise they will not last. Right now they continue to pay out members using investor money, as well as dividends earned from the Steem digital currency and others. This will not last. In fact, there’s difference between investing in stocks, digital currencies, or shoving money in a slot machine at your local casino. Its always a gamble, regardless of how savvy one is with this industry.

You stated yourself the Steemit platform was recently hacked. It appears the world of digital currencies is constantly attracting the attention of criminals, this is why many banks don’t trust dealing with them, its just too much of a risk.

As for the thumbs up issue, great point you mentioned about how votes with “Steem Power” are the ones that matter.

I still think this is just the beginning of incentivized social media platforms. We had TSU which shared ad revenue, now Steemit that shares its revenue for the posting of engaging content using digital currencies, and who knows what new ideas may pop up in the near future.

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