Many people are wondering how some accounts on Steemit have more than one million Steem Power, but you only start with 10. They just bought steem and powered up. Now they can upvote with power what they want. The founders that own a lot of steem can also do this. Sounds like a fair way to control a platform and nothing like a ponzi.
if they try to transform this site in a speculation, they will just sit with a ton of Steem in their hands... but Steem will be worth nothing! This sentence makes no sense but it should offer hope to all of you waiting to cash out.
Let's see better how a Ponzi scheme works:
A guy, let's call him Charles Ponzi, offer the chance to make a very interesting investment, offering a very big interest rate. For example 5% every month. People start investing small amounts of money, and Ponzi repays their investment. As the market start believing in this investment, people start committing an esponential amount of money. Mr Ponzi pays the interest with the money of new subscribers. At a certain point, he runs away with the money. At steemit the ponzi already has the money, gets you to buy steem it to power up your voting power and then they cash out, slightly different but still the same.
Why Steemit can't be like a Ponzi Scheme ?
the answer is simple: It can be, it is just crypto style.