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RE: Reasons I doubt long term success in Steem
I definitely can see how whales can ruin the opportunity of users to freely express their opinions. In general, flagging and down voting is a hard thing to justify, I'm wondering if its possible to create a platform with zero censorship.
I think it is necessary to some point, I just think there is a little too much weight given to the bigger accounts. When one guy can completely downvote like 20 posts of mine, that's too much power.
The problem with zero censorship is the loss of quality. Does free speech allow pro-fascist speech? If it does, the free speech is giving up its survival. It's like being Gandhi instead of JSDF. What we really need is governance with proper incentives. What happens to a whale that uses his/her power irresponsibly.
If you own a Dash masternode and make bad decisions, you are going to loose tons of money. In steemit you can get a bunch of up votes attacking someone and even self vote to award yourself some more wealth. There are many short term gains (including psychological rewards) and not everyone witness the irresponsible use of power. Only those who see the posts witness the bad actors actions.
So problems can grow in isolation and under the radar before biting everyone in the ass. The main problem is the lack of good governance. The bad actors can do the damage and cash out before even things start falling.