Steemit AMA with Tone Vays

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Please join us for this live event where you are encouraged to ask Questions to Tone Vays about Steemit or Steem. He is a general critic of this initiative and by overwhelming request from the Steemit community, he has agreed to answer your questions.
@ToneVays Website:
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39 thoughts on “Steemit AMA with Tone Vays

  1. I think if anything they should drop all the steem currencies and use
    bitshares if anything… there’s really no need for the 3 steem coins when
    there’s no actual legitimate advertising revenue… I think the site itself
    can be useful tho if they use BTC as the local currency or bitshares worst

    1. Chase That Coin the reason Steemit fell was because short sighted people
      started saying things like this must be a scam, because it’s not like
      Bitcoin. However there are 3 stages new ideas must go through before it’s
      accepted as truth.This unfortunately is one.

  2. BTC is already POS, most of the general public stake their BTC into large
    mining pools owned by big business. The difference in steem early investors
    get the most benefit , This is same with BTC when I bought at $60-80 dollar
    price range we all made huge profit, It called being a early adopter.. Then
    we all bought again for round when price dropped to $200… Basic trading
    buy low sell high…..

    1. Hahaha, I believe the above about as much as I believe in Flat Earth and
      the planet being 6,000 years old. (And yes I have debated both of these
      issues in the past as well).

  3. Satoshi worth today would be 900million – 1 billion dollars from estimates
    I have seen, it is all relative. steemit dev is worth 20 million and it is
    open… the point is really how much satoshi is worth how many wallet’s
    does he have…. It is all business of hoarding you stash, the biggest one

  4. Excellent analysis and summary, @Tone Vays. Anyone who has any doubts can
    listen to this and should be able to make up their mind according to the
    key arguments presented. The statement that Proof of Stake is no different
    from the fiat inflation system, is critical. If someone does not grasp this
    insight, well, then they choose to participate in the scam.

    1. Chairman Venzen what ? Steemit is a news, blog site? Proof of stake and
      decentralization is inherit in Pos. Instead of having thousands of
      computers wasting energy, you have thousand of users putting up a stake of
      coins. If you try and steal, hack, double spend, you lose your stake if
      others disagree with your ledger. This is an oversimplified explanation of
      pos. Tone see everything through a BTC pair of glasses. Which has merit if
      your trying to be BTC.

    2. @Piranha, if one analyzes the value transaction – who gets what
      goods/service in exchange for what – then PoS is no different from what any
      central bank and their satellites do. The central bank "creates
      value" by conjuring currency and hands it off to shareholder banks who
      have a mandate to issue credit to parties approved by the clique's
      self-made rules and policies. In this case the banks also have proof of

      Arguably, value (a blog site and self-issued cowrie shells) and economic
      activity (blogging and self-promotion) are generated, but the losers are
      new entrant steemit holders whose tokens’ value is inflated for all
      perpetuity. New entrants are not beneficiaries to the original
      disbursement, and their purchase only enriches the in-group few. Therein
      lies the scam.

      This is neither decentralized nor does it make economic sense. At no point
      do I get the impression that Tone Vays is trying to exact some vendetta
      against Steemit or its central planning authority. Instead he's just
      pointing out the economic pretzel logic.

    3. Thank You Ven, and like i said on the video, Dan Larimer will never get any
      respect from me cause this is his 3rd or 4th scam…. Vitalik (who has not
      even gone to PoS and is on his 1st scam) gets a lot less scrutiny from me.

    4. Tone, I still don’t see the scam you keep talking about. I see the
      hypothetical one sided logic you’re using to make claims. Your implying
      nothing centralized could ever work. You’re also implying this is serial
      premeditated fraud. I’m pretty intelligent, just because a business owner,
      entrepreneur didn’t knock it out of the park with each venture, doesn’t
      mean someone is a scammer. By your definition every financial system in the
      world that doesn’t live up to the Bitcoin model is a scam. I’m not here to
      debate that, I’m just pointing it out. As a person who tries to help and
      repesect others. I can sympathize with your efforts, however there is your
      opinion and there’s reality. I think if I were you and I’m not. I think i
      would add the disclamier these are my opinions. Like I said before trying
      to explain to a judge how centralized banking is a scam might not work for
      ya when slandering someone’s reputation.

    5. Well there are differences, there is no debt, loans, or the perpetual 10 to
      1 lending out of thin air by the banks. The inflation rate of Steemit is
      now capped in the last fork. It’s a known value, not an infinite one. How
      is this any different from the United State printing its own currency
      without central banks. Which is what we should be doing. Being centralized
      can work if its done correctly for the right reasons. The new model of
      Steemit is 10% capped inflation that tapers off to zero over time. I think
      there will never be more than 240-250 mill coins ever. It’s already at 230
      mil+-. 90% of that inflation is paid out to the users providing value to
      Steemit by blogging and curating.

  5. Tone made some good points however, his points are made through his own
    colored bitcoin glasses. I feel he’s looking at one or two aspect’s much
    like a person who only has a hammer see’s everything as a nail, right or
    wrong. Steemit is transparent, they aren’t forcing anyone to buy or use it.
    The founders in-charge Dan and Ned aren’t going around scamming people?
    That’s a pretty big charge, I think Tone should be concerned with liable,
    slander suit. His words have real meaning and this” I heard this from
    someone before my time” doesn’t cut it in court.

    It should be noted Steemit didn’t have an ICO to acquire funds to start and
    run. Steemit has real business expenses, employees, bandwith, server’s,
    rent and new development cost. Steemit is growing and so are these
    expenses. Who do you think is funding all of this? Dan and Ned !Yeah, the
    scammers with their scam tokens. Unlike some crypto’s Steemit isn’t ran on
    other people’s computers.

    Further sign up is free and they give you some these tokens to start off.
    Steemit is filling a huge need in society by giving anyone a voice to
    post/blog about anything and not be censored using blockchain tech. The
    biggest being news! I see this as being one of the biggest value and growth
    proposition. Today’s mainstream media is controlled fake, propaganda.
    Steemit seeks to give a voice to real journalism and whistleblowers and the
    like. Further, it’s seeking with its own Steem currency to create a living
    wage for these journalist, bloggers, and poster for doing. So they aren’t
    controlled by special interest. These are just some of the basic ideas of
    Steemit that if you’re short-sighted, might miss.

    I would also like to mention Reddit who has something like 200 million
    users is centralized and has been caught censoring big time. The CEO just
    closed down a whole Reddit group discussing Pizza gate?!
    On Steemit that couldn’t happen. I would also like to repeat /point out
    that Reddit is centralized and has 200 million users. You think Steemit
    could do a better job ? Steemit is quickly growing and is taking users from
    Reddit. Steemit is social media that just happens to also have a currency.
    See the difference?

    Does Tone like or own anything other than BTC?

    1. I own plenty of BTC, ETH, Steem ? Well can anyone truly own plenty of BTC,
      theres always room for more 🙂 I dabble in FCT as well. I think BTC will
      continue to probably 1 mill over the next 10 years. I ‘ve owned BTC since
      before the first ATH.

    2. Piranha so that means you should know a lot about the space… there is a
      difference between profiting from trading the alts vs the need for having
      the alt for that project (Steem/Ether/etc). one day I hope to see you come
      around to my positions that the alts are scams, but yes there is lots of
      money to be made there of you trade them right.

    1. Bitcoin Addict do you own due diligence. The is just one mans opinion. He’s
      clearly only focused on the crypto currency aspect as it relates to BTC.
      That’s what’s important to him and doesn’t going into the full aspect of
      Steemit as a successful business model. I might add ever changing. The
      founders listen and make corrections. That’s what you do when you have a
      business not a basic crypto currency.

    2. correct i should be doing my own research, but at the same time theres too
      many coins, i only study the high volume coins. in crypto a coin has to
      prove itself to me first before i study it. so far i just see pump and
      dumps and extracting btc out of the fanboys, on a routine. when i see a
      more efficient revenue stream, ill call it legit and support steemit. i
      admire and respect u guys fighting for this coin and trying to make it
      work. for that ill stay neutral .i will give it a chance if it breaks thr,
      so keep fighting with conviction,a coin is only as good as its

    1. If that is your interpretation of what i’m saying than i’m ok with that. If
      you are not able to comprehend my explanation of this is the case, this it
      is also ok. You will find out in a few years the hard way (if you invest in
      these scam alternatives)

    2. So you’re saying invest in bitcoin and you’re instantly not losing money?
      Enlighten me as to what your definition of a scam is. If the blockchain is
      not dissapearing from the internet, then how are the people losing? I mean
      even onecoin has surpassed the point where it can collapse, due to being on
      an actual blockchain. Go shill onecoin, it has way more users than steemit.

    3. UBG I have been shilling OneCoin relative to Steem, it’s a way better
      investment then Steemit. Bitcoin might also be a scam, I dot advise anyone
      to buy it unless they need it for survival. Otherwise they are a dumb
      speculator like me when it comes to bitcoin

    1. Zamasu Black I hope so, would be hilarious for me to stand in front of a
      judge saying how they are a scam & printing monopoly money they sell
      people… Marco Santori can send me this letter any time 🙂

    2. Copypasta

      Defamatory Statements

      One essential element in any defamation action is that the defendant
      published something defamatory about the plaintiff. A communication may be
      considered defamatory “if it tends so to harm the reputation of another as
      to lower him in the estimation of the community or to deter third persons
      from associating with him,” according to the American Restatement of Torts
      (or “The Restatement”).

      Examples of defamatory statements are virtually limitless and may include
      any of the following:

      A communication that suggests the plaintiff was involved in a serious crime
      involving moral turpitude or a felony
      A communication that exposes a plaintiff to ridicule
      A communication that reflects negatively on the plaintiff’s character,
      morality, or integrity
      A communication that impairs the plaintiff’s financial well-being
      A communication that suggests that the plaintiff suffers from a physical or
      mental defect that would cause others to refrain from associating with the

      Even if the guy is a scammer it’s not like people who knew they were didn’t
      sue just to bankrupt the person saying it. In the UK it’s a common tactic.

    3. Zamasu Black that’s ok, I’m already broke…I was late to Bitcoin and never
      participated in the Steemit or Ethereum scams, they can sue me for all I’m
      worth and it will be less than what their lawyer will charge them to bring
      it to trial :). But they will never do that cause it will expose their scam
      in an actual court of law.

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