Naturally there are. Fake accounts and networks of friends upvoting each others content is to be expected and was expected . The question is can the creators of this platform clean this up before it's too late.

I'm as scrupulous a gent as one will come across and I considered making a second "fake" FB account in the event I had my account hacked and wanted to retrieve it in anticipation of the increased security feature mentioned by the creators of Steemit.com. Ultimately, I couldn't even do that due to the slippery slope of possibly upvoting my own content with my backup account.

I know there are plenty of people for whom this is not a problem and indeed is desirable. They have no issue with creating as many fake accounts as they can in order to take advantage of the system to make as much money as possible.

We shall see how this all plays out soon enough...