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RE: Will Steem succeed or commit suicide?
I think it's great to think about these types of things, I wish I was as motivated to "think about the system". No system is perfect and can always be improved; Steemit is no exception. One point I'd like to make is that while it could be more fair, I also think it's a good thing that it is difficult to become "whale-like" and make a lot on your posts. I definitely don't think it should be easy. Even if their posts seem silly sometimes, most "whales" have worked hard and long for their following, and not just a following, but the right kind of following. It incentivises me to work harder and I respect that.
Anyway, I look forward to following your ideas in the future, and I hope we can get Steemit to the right balance of power. Thanks!
It's true that "most "whales" have worked hard and long for their following" but quality content should be king. You can see posts that would be downvoted for spam making a lot of money.
It's not difficult at all if you're wealthy though as you could just purchase SP, essentially allowing wealthy people to dominate the site an earn all the rewards whilst giving them the power to censor the views of those who are poorer than them. This should come as no surprise given that it's made by an-caps. Also, this is what an an-cap society would like like.
One thing I have posted about that you mention here, is that with sufficient capital, Steemit can be completely controlled.
There are entities with sufficient capital to purchase nominal Steem to completely control the witnesses, which in turn allows control of the code that Steemit runs on. I believe this was not unknown to the devs, although the only evidence of this is that they're smart people, and it's an obvious feature of the weighting of VP by SP.
If some RL whale buys enough stake to do this, the devs retire rich. If it doesn't happen, Steemit keeps growing and becoming more relevant - until it does happen. It may not be a get rich quick scheme, but as long as Steemit doesn't fail for some other reason, it is a get rich for sure scheme.