Critical Analysis of STEEM and Steemit
steemit·@yuriks2000·
0.000 HBDCritical Analysis of STEEM and Steemit
 Image source and article source: http://pjbrunet.com/instagram-traffic-strategy-18/ <h2>Recently I have found an article written by PJ Brunet on JULY 16, 2016 criticizing STEEM and Steemit and I would like to speak up and reply to this article.</h2> <h1>Here it goes</h1> >Only 10% of STEEM is mined by miners. The other 90% is basically “printed” by the website. <h3>This is done intentionally and the site does not print money. A part goes to miners, another part to STEEM believers who own and store STEEM POWER, another part is going to users who participate in the social network by posting, commenting and upvoting. Seems fair to me so far.</h3> > I call it a business, because I don’t think STEEM can function without the Steemit website. <h3>STEEM can function without a website. Blockchain is the main storage place, steemit.com is just rendering this data. You can use other website or even run your own separate steemit website (here is a [link to the guide](https://steemit.com/steemit/@artakan/how-to-build-your-own-steemit-com-website)). </h3> > However, the concept could be interesting if STEEM had some kind of API that would effectively make the altcoin less dependent on the Steemit website. <h3>STEEM offers API and many apps can be build upon it. And again STEEMIT is a blockchain and everything can be done through API (can be found on [github](https://steemit.github.io/steemit-docs/))</h3> > Because it’s not decentralized. I suspect the economic levers will be tweaked over time. It is decentralized because it is a blockchain, with it's own philosophy. It is completely be different from Bitcoin and Ethereum, but thats the whole point. It should be different and unique to bring something new to the people. **Please speak up and tell me if I am wrong. Maybe I have missed something or misunderstood, but this article was very negative for no apparent reason.**