You know SBI but do you remember Bernie Madoff Ponzi Scheme

in #downvotes10 months ago (edited)

I'm not saying that SBI is a ponzi scheme but tell me what is gonna happen when sbi owner decides to cash out? His business model is unclear and designed to milk the Steem blockchain.

Use #sbi-skip to get rid of annoying downvotes.


After more than a decade of duping the SEC and his investors, Madoff saw his scheme lose steam STEEM in late 2008. He was borrowing money STEEM POWER and couldn’t keep up with all of the investors who were desperate to liquidate their assets as the market continued to deteriorate


Hello. Just now I noticed that you took manual notice of me!

I see you zeroed out your automated votes and revoted with a 100% downvote. I am one of the largest holders of steembasicincome units and I help moderate in the discord, where I have spent the last several weeks fielding complaints about you.

It is my personal belief that this is an important lesson in decentralized governance. Whether #steem or some other blockchain rise to supremacy, any stake based system will have to deal with misunderstandings, disagreements and jerks. I believe that the lessons we are learning today with #steem with be studied for a long time to come.

I think it has become quite clear that 'free' downvotes were not a good idea if we want actual users interacting with the platform. Abstracting away the downvotes is the only way someone can build on #steem moving forward. By computers, downvotes and upvotes are just mirrored stake-weighed operations. But on a human level, downvotes feel a lot more like violence.

Whether #steem figures this out and changes course, or is already on its way to avoiding direct user usage altogether - SOME blockchain will take these lessons and try again.

The mmmmkkkk311 conjecture: No matter how elegantly designed something is, someone will think it's a scam.

VOTE BUYING IS WRONG, that's your lesson to learn

No, in fact I don't even think 'wrong' is the right word to use at all. We are talking about tech, about code, you would make more sense thinking about 'permitted' or 'not permitted'.

I am permitted, by code, to do what I want with my stake. And so are you. If I wanted to go about not permitting you to downvote me, I would have to change the code. If you wanted to go about not permitting someone of buying votes, I would challenge you to think how that would even be possible. You can use your stake to disuade or disincentivize all you want, but you can never disallow.

In terms of morality - 'right vs wrong' - I'm not sure what you aim to achieve by implanting it with downvotes.

I am permitted, by code, to do what I want with my stake.

same here, as you said

Yes. And you should also accept responsibility for what you are doing. None of us is getting downvotes from you because we 'buy votes' or for any other reason other than - 'You feel like it'

Are you on discord or, but I prefer public comments

Fair enough. I just had some questions about your reasoning.

Is your focus on those who “buy” sbi shares for others, otherwise known as buying them a vote? I’ve tried to catch up over comments and posts, but it’s a lot of dis fragmented information. You recently removed a witness vote for the c-squared curation group, and I was told it was for voting the open letter video about the downvoting.. made me curious what was going on so came to look.. and well, it left me with more questions.

It seems every time you try to speak, individuals respond in ways that make it hard to have a conversation, so I thought I would see if you were on any chat apps, but am ok with public comments too and respect that actually quite a bit.

Anywho, comment if you like.. or find me on @justineh

Have a good day.

All my downvotes are manual and goes to "sponsors" who are trying to get in the ring new members and increase own ranking in the circle. They know how to avoid downvotes but they keep sending STEEM to steembasicincome account, their choice

Now, tristancarax spent 200 STEEM for vote buying and wrote a post about it, c-squared upvoted his post. I don't want to have anything to do with witnesses who are supporting #oldsteem.

Why are earth do you want us to collect more evidence against you, @
mmmmkkkk311? Quite confident for someone who hasn't been able to keep their story straight throughout any of the threads. Weird, but okay. You do you.

Why would you respond to his comment to me? Take your rage elsewhere, perhaps your own post or comments. Pretty sure individuals are still allowed to comment on this platform.. if you don’t like it, use those downvotes bro 🙂



Flower Power! Peace brother, peace!

Niestety, nie.
Karzesz niewłaściwych ludzi, myślę, że jest inny sposób.

I think that if someone tried to explain to Madoff's investors that they are putting money in a ponzi, they would encounter the same aggression with which I deal

I tell you what, @mmmmkkkk311, how about you come to check out my brand new contest so that you can get a taste of what it is like. Enter if you wish (you're not guaranteed to win and, yes, quite possibly, I might be biased as fuck when it comes to your entry but don't let that stop you. You just might amaze me and EARN! your reward).

Guaranteed, unless there is nothing but shitty people writing who managed to tell a story within the guideless, I won't be handing out @SBI shares to people who haven't worked for it. - Trust me, this exercise isn't easy and most of the writers that will write for this contest will be receiving nothing close to what they might actually be worth. In addition, almost guaranteed, these writers who win will continue to produce the best work they can. Yet, by your standards, this is wrong and their work should not be rewarded in the way that I wish to support their work.

How about stopping by and throwing some of that fat whale ass around? I'm sure people would appreciate a fat upvote for the work they produced - that most likely still isn't going to be what they are worth.

You can't survive alone on this platform without us producing content. We are underpaid and overworked for the service that we offer you. Your small upvote won't make us wealthy but it will keep quality people coming back to this platform that pays them far below what they are worth

haha!!! I did the same thing, @davedickeyyall. He won't get it because he has been blacklisted. That sucks for him because you just tried to give him free money.

He could correct his behavior, but even if not, a unit burn is just more sustainable for the program.

If you’re afraid the owner cashing out, then why are you here? STINC is selling hundreds of thousands of Steem every month. Ned left and sold his stake. You will also have to flag almost every project here on Steemit. Good luck.

@mmmmkkkk311, would you look at that! Another reason to leave the steemit platform altogether. Why are you not listening to us? You don't trust us? We know what is best for you, trust us.

Let's address what we have here and here first before jumping from ship to ship.

Is your opinion correct? Learn what has been said about steemit -Sovryn Tech Ep. 0187: "The Steaming Pile of Shit Called Steemit" - because if we listen to him, which I did once and that sucked because steem went way up in value and I was upvoted like crazy when I left the first time, YOU, including you, @mmmmkkkk311 should NOT be here.

Your responces have been trash and you're not helping people understand what it is you think you know.

I wonder if @josephsavage would be willing to debate you and your #sbi viewpoint in a live broadcast on @vimm. I'd be willing to host the debate/ discussion.

Whose up to the challenge?

I was be happy to. At core, he is already confusing Ponzi scheme with exit scam. While exit scam is integral to Ponzi scheme, the converse is not true.

We have already proved multiple times, through detailed description of how things work, along with public code base, that SBI is not a Ponzi scheme.

That leaves only risk of exit scam. We have a roadmap to decentralize governance through legal entities and m of n override keys, but the solution would cost more than the assets it protects right now.

Do you really think I would risk serious reputational damage for less than the value of my car? When the assets are sufficient to justify the costs of protecting them, I will implement the solution.

Will that ever happen with people like @mmmmkkkk311 blindly downvote thousands of quality posts? That's an open question.

As an aside, the largest SBI member is @contestkings, and they have a partner who lives only two hours from me. I would not be surprised if he has done full diligence and verified my identity using public records.

SBI explanations of operations and published refund policy stand as an implied contract that would be enforceable under local laws. So even though that's an ex post enforcement, not an ex ante prevention like my more elegant roadmap, there are already protections in place.

they did already, mk doesn't care. he was a bidbot owner, he's just fucking around. downvote the #polish community he upvotes

Although it is a tempting idea, I agree with @johnspalding. It isn't like the whole #polish community is backing this whack plan of action. I'm sure some of them are as pissed off as we are.

downvote the #polish community he upvotes

posts he doesn't upvote aren't downvoted

Lol, I don't want a downvote war. I just

  1. Don't want to be downvoted just because of my belief in #sbi.

  2. Be able to post without harassment.

These serial #downvotes from accounts like @mmmmkkkk311 and @camillesteemer are toxic to the blockchain and #newsteem. They will be a hindrance to mass adoption.

I don't want a downvote war

Any other suggestions? Reasoning with mk obviously doesn't work.

Acquire enough #steem as a community to shut him the fuck up....

Please explain how that would stop him, considering he earns by simply upvoting. Don't forget that he is downvoting sbi because he wants to fuck up sbi's reward distribution so that more steem is divided among his circlejerk.

Great point. I'm not sure, I also don't know how much steem he has relative to other whales, i was just thinking that ther only way to really affect him was by having more SP than him.

Then I went and read your post from 4 days ago about not powering up....

Now u don't know what to think


To make things worse, mk probably has other huge accounts.

@mmmmkkkk311 I think that you're right in part. The problem in steembasicincome Is that if he cash out, he ruin the ecosystem. But the problem Is that steembasicincome was have been founded for many time. If the project finish, the investors will lose every invested token and the ecosystem lose anyway because they can anyway cash out. It had to be blocked BEFORE, when It started its project.

They remains now a good things for the startup project in the steem blockchain such the contests organized by the Little fish of this ecosystem.
Steembasicincome should function as a blocked-funds account: this is the simple method to resolve the problem of the ponzi scheme.

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Stop Downvotes give me Upvotes please 😁
Is better for me.
Greetings from @bitandi

Tut mir leid für das downvote von @markymark, meine SP für ihn als Witness entziehe ich dem Kollegen (so ich sie denn über meinen proxy gesetzt habe, das klär ich) , wenn das so bleibt. Beste Grüße.

Hallo @balte
Auch wenn es nicht so wirken mag aber der @markymark ist mit einer der zuverlässigsten Witnesses und hat auch schon sehr viel für Steem getan.
Du solltest Deine Witnesses Votes nicht durch einen Downvote ändern, sondern lieber an dem messen, was sie für die Community tun.
Durch Deine SP hast Du sehr viel Macht, gute und zuverlässige Witnesses zu unterstützen.

Kein Problem. Siehe meine Antwort an @bitandi:).


haha! @yapcat, I did the same thing 8-) but he has been blacklisted so he'll receive nothing.