Thank you for your comment. I can only suggest you research some more.
And cryptocurrencies themselves contribute to the problem of those who have access to technology and power sources today getting a head start, and money flowing back into the hands of those who already have enough when other wealthy investors decide to play the game.
Perhaps you can start by going to the Indoneia or Nigeria part of this site and chat with some of those people over there. Many of them are making a months wage in just a few days on here with their posts.
Believe it or not, in spite of your pessimistic view, things are getting better in the world. The blockchain you are on is proof that the centralization you are referring to is not going to increase, but decrease.
Upbit paying premiums for steem and sbd are not what I was addressing. I was alluding to the concentration of mining groups and how most, if not all coins have terrible wealth distributions concerning the share of total coins to the % of wallets who hold them.
The blockchain I am on mirrors this issue, where the 1% and 2% of users hold the vast majority of the power. It is anything but democratic or egalitarian.
Yes and the blockchain you are on also has a built in system where 75% of the reward pool goes to authors meaning that the holding as a percentage of the total is going to decrease over time. Last year the top 10% of holding went from 88% to 81% with the minnow seeing the biggest increase from 1% to 5%.
Not sure about that, https://steemwhales.com/ shows the ~5% you talk about to be dolphins, and it says minnows have 0.73%. Every post on the front page at any given time is an auto-voted post.
You are right...my bad ...I was going from memory...it was the bottom percentile that went up 5% last year.
You have 3 SP....times that by 12 and you that is 36...now multiply that over 500K people over the next year and you see that much of the newer STEEM is going in the hands of newer people. Since 75% of the reward pool goes to authors, the top 200 accounts simply cannot write enough articles to keep pace.
I will agree with you that there is at least movement in the direction you implied, and that steemit isn't as bad as other coins where there is nothing but more concentration of wealth. I think that much of the botting and delegation here does allow for passive income to be made, increasing investor appeal but decreasing average user appeal.
I will disagree with you on that.
In my 5 months on here, I have seen people go from zero to dolphin. My own account has increased significantly.
This is a place where people can come on and make some money...so the average user has a chance to build his or her account which also should see an increase over time in terms of dollars.