0 sats \ 1 reply \ @k00b 12 Aug 2023 \ parent \ on: SocialFi A Rebranded Scam nostr
There are a few projects on something called Hive that someone keeps attempting to dunk on SN with in youtube comments if you weren't aware of it.
iirc they have some kind of token emission that gets paid to users in some inevitable game of music chairs
Yes HIVE is the fork of STEEM but with the original pre-mine burned other than that same thing and dapps that didn't like Justin Sun moved over, it preys on the naive by offering no transaction fees, an algo stablecoin issued at 10% of the primary token supply
Users see a $ figure on their posts if they earn from the daily inflation pool which is redistributed by stake-weighted upvotes so as long as they keep it trading at a certain price those payouts look attractive
The payouts shipped after 7 days and are either fully staked with 13 weeks lock up or you can get 50% of your payout. It's typical altcoin complexity theatre relying on a churn of people looking for ways to "earn" crypto im honestly amazed at how long these things can keep running and why i always say bear markets are not nearly as brutal as they should be
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