This is a prime reason why cryptocurrencies need a decentralized governance system, such as the one in place in Dash. In Dash, the biggest stakeholders get a say in the direction of the currency, through protocol-level blockchain voting. That way, there is no one person in Dash who can make the decision to do anything. Everything is voted on, so the consensus can be reached, and then move on. Steemit should try to implement something like this, it is working fantastically.
More info:
https://dashcentral.org
http://dashvotetracker.com
I believe in Steemit, keeping it decentralized should be the goal of it, and any other crypto.
Steem already has a form of on-blockchain governance via the witnesses who ultimately can choose whether to go through with a particular hardfork or not. However...
and
You do realize that the @steemit account owns a majority of the stake in the system, right?
No, I did not realize that. I am a newb here. Thanks for bringing me up to speed!
great points! but i am not sure if you argue against decentralization or for...:)
a centralized power in blockchain..how's that for irony? :)