You could not have said it any better. "Put to much decision making authority in those with little to lose, who are not sufficiently vested in the system, and...well...you end up with a fiat economy. Head's they win and tails you lose."
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Hot diggity dog, this is a good post. Cryptocurrency should be decentralised. When putting more power in the hands of whales, is that not kind of the same thing as a CENTRALIZED system?
That's it! Thats the problem, why aren't you getting upvoated? Are people scared of the whales?
The problem, from my pov (see what I did there?) Is not a provlem from the whales perspective because the steemit system was designed to be rigged so the rich get richer and gain influence. If you came first (not sexually, teehee,) you've got more power
Sure, thats good to get people here and so is getting abunch of youtubers, but its gonna suck if it continues this way and be ruled by the steem powerful censoring through over powered downvotes.
Steempower to the people!
Except for the fact that a lot of the first whales got their accounts hacked.
The LEDGER should be decentralized. The distribution of currency itself? No. Not if you care about economics and prosperity.
Thats right, the steembarons are there because of hard work and big tits. There are no problems with the underlying system
If steemit wants to be reddit with all its top down problems, the devs should make sure that a small group of people with similar interests stay in power.
If you care about "economics and prosperity" a currency should be liquid and stable, not hoarded by a small group. Unless you're talking about the prosperity of a small group.