Steemit is a pyramid scheme . steemit allows initial users to amass a huge amount of power to make even more money from the site. I can see massive amounts of crypto currency in whales accounts.. When we examine the content posted by the whales its sometimes meaningless nothings upvoted by other power users in steemit.. Overall steemit cant reward new users even if they have good content. It seems that steemit is essentially a money laundering tax evaxion scheme. Check the wallet of a whale and you will see massive amounts of cash in there account.