@crypto.piotr,

I have had a couple of superficial communications with a couple of Whales and a Hell of a dust-up with a Witness Group (4 members) regarding proposed reforms to the blockchain ... they DO NOT want Rules of Conduct that would prevent vote selling/buying.

The value of an idea is independent of the pedigree of its author ... and that is one of the huge dangers of the STEEM/Steemit model. The big players are big players (with perhaps a small number of exceptions) because they were miners or early adopters ... essentially, they were in the right place at the right time. Hence ... techies.

Being able to write Python is but a fraction of the knowledge required to effectively manage a cryptocurrency. The knowledge-base amongst Whales and Witnesses is EXTREMELY skewed towards IT and noticeably deficient in basic business management skills. I used to manage of couple of hedge funds (one a currency-trading fund) and am very familiar with the financial, economic and legal issues that will effect STEEM but which have nothing to do with 'coding.' These issues are every bit as important, if not more so, than DApps ... and yet they are being largely ignored.

For example, SMT's will ABSOLUTELY be considered securities by the SEC and other world securities agencies. And yet, people still think that they'll just pay a dollar, start a SMT and do an ICO. The utterly ignorant think that they won't be subject to SEC jurisdiction just because they don't want to be ... as if, somehow, it will be "their choice" (ignorant Anarchist ideological baloney). This is off-the-scale amateurishness. It costs tens of thousands of dollars in legal fees to set up even the simplest of non-US offshore structures and once you involve securities, that amount increases exponentially.

The US government has a plethora of ways to "establish jurisdiction" and has an extremely long and successful history of doing so. All of the US-based Witnesses, nodes and users .... not to mention Steemit Inc.'s US residence ... will be more than enough to establish a nexus.

I'm not being mean for the sake of being mean. I love Steemit and desperately want it to succeed. But a level of professionalism (and realism), that is at present wholly absent, will be required if it is to survive.

Quill