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What are some shady facts you know about steem ?

Did you know that Steem was actually accused of being a Pump and Dump Scam when it was launched?

This is obviously not the case today, but during it's launch and re-launch, forum members at BitCoinTalk.org accused the Steem Blockchain of being a pump and dump scam and its founders of being liars because of the way they handled the initial mining of STEEM Tokens. The poor documentation regarding how to setup mining nodes, plus the lack of a White Paper and a website, at the time, didn't help things either. 

Forum users also complained that the company must have pre-mined before launch or insta-mined it after launch, a huge amount of tokens to give its founders. Former Steemit, Inc. Head of Technology explained why this was the case in a blogpost, and eventually, users gave Steem a second change. But nonetheless, it made for some shady beginnings for the Steem blockchain.


  1. How to Launch a Crypto Legally While Raising Funds. http://bytemaster.github.io/article/2016/03/27/How-to-Launch-a-Crypto-Currency-Legally-while-Raising-Funds/
  2. BitcoinTalk.Org Launch - https://bitcointalk.org/index.php?topic=1408726.0
  3. BitCoinTalk.org Relaunch - https://bitcointalk.org/index.php?topic=1410943.0