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Its not a fault of the whales themselves, no. But its two unfortunate side effects (voters like to follow whales votes and whale votes effectively sticky posts to the top of the page) that amplify an already huge disparity in voting power. A disparity, incidentally ,that is growing, not shrinking..

At the end of the day, this will hurt the whales more than anyone else, because if 2 cents worth of voting power costs $100K, no one is going to want to buy it, and the value of the SP they hold is going to tank.