Plutocracy: Plutocracy (Greek: πλοῦτος, ploutos, 'wealth' + κράτος, kratos, 'rule') or plutarchy, is a form of oligarchy and defines a society ruled or controlled by the small minority of the wealthiest citizens. The first known use of the term was in 1631. Unlike systems such as democracy, capitalism, socialism or anarchism, plutocracy is not rooted in an established political philosophy. The concept of plutocracy may be advocated by the wealthy classes of a society in an indirect or surreptitious fashion, though the term itself is almost always used in a pejorative sense.
Steem is a Plutocracy that is weighted by wealth rather than individuals. I believe that this is a fundamental flaw of Steem and could lead to issues scaling in the future.
Literally, everything about Steem is based on this weighted "democracy"... voting and witnesses.
I strongly believe that Steem needs some sort of third style of earning or notoriety program that isn't based on individial wealth, but on the individual themselves.
Do anyone have any opinions or ideas based on this subject?
It's a very shitty feeling to know that I could bring 1,000,000 new users to vote for my post or me for Witness and all of their votes aren't worth what a single Steem user or a million voices can be slammed in the dirt by a single click.
There has to be something to offset this in someway.
I consider myself a capitalist and please don't consider this post as a shrimp bitching... I honestly see a potential issue and I think there has to be someway to add something.
Do you think Steem is a Democracy or a Plutocracy?
Please feel free to voice your opinions down here and/or brainstorm what we can do to possible "fix" this.
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