completely agree. There's no real system of governance in Steem. Sure, we get to vote for BPs, but there's nothing really holding us together in a moral contract.
RE: NEW EPISODE! EP81: How blockchain-based Everipedia is disrupting the Wiki model
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NEW EPISODE! EP81: How blockchain-based Everipedia is disrupting the Wiki model
The early miners are also at a level of "Almost nothing at stake". I heard STEEM used to have 100% inflation too. So we basically have something like the Dash fastmine/instamine. But Dash isn't a "social" project and Masternodes are just voting on budget proposals. They have incentive to vote wisely. They don't control overall reward distribution like STEEM. They can't just vote themselves free money.
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