This is an episode of Anarchast from before Patrick, Kason, and Disenthrall took ownership of the show. The views, opinions, and facts expressed in this episode have not been reviewed and are not endorsed by us. Always think rationally and for yourself.

Anarchast Ep.302

Jeff interviews crypto-trader and Steemit critic, Tone Vays. Topics include: more technical details on Steemit, Jeff’s experience of Steemit, people are taking money out fine, Tones objections to the platform, pre-mined proof of stake, 215 people have 80% of Steem Power, rewards early adopters, the whales have too much power, proof of stake is dubious, others have to buy into the system, in what way is it decentralized, is it really a blockchain, is it really censorship free, 90% of crypto-initiatives have been scams, clever incentives, insiders could be cashing out already, unregulated, valid concerns, the dangers of exposing million dollar dark deeds, Tone calls out The Dao before the Ethereum disappeared, now calls out Steemit, individual posts are not actually worth much!