Steemit is not democratic!

ranko-k (59) in richlist • 8 years ago (edited)

Why? Because 25 accounts have more Steem Power than all others combined.

If you invest and power up you will most likely still have small or almost no impact at all at the moment

https://steemd.com/richlist

Just a fact

richlist steem steemit

8 years ago by ranko-k (59)

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ben99 (55) · 8 years ago

Steemit is in the beginning, it's still a baby, don't give up like me bro

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ranko-k (59) · 8 years ago

This can be fixed only by changing voting algorithm

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ben99 (55) · 8 years ago

May be with time people make some money and up-votes become valuable no body know

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financialfreedom (33) · 8 years ago

It is democratic but you need also the big numbers from the users, write good posts and I'm sure you earn what you deserve!

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ranko-k (59) · 8 years ago

Even if 100000 users come tomorrow they will have no impact at all

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ben99 (55) · 8 years ago

That's right, but may be some users will invest money

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matthewgriffin (30) · 8 years ago (edited)

I don't understand your argument, if that's what you're trying to do...
Why should it be "democratic", why would that be inherently better?

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demotruk (69) · 8 years ago

I would love if someone could post a graph of the top holders percentage of total vesting shares over time, because I would bet it's rapidly declining. In the long run large Steem Power holders will be being diluted at about 5% per year, and if there wasn't, nobody would be joining the system.

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remlaps (74) · 8 years ago

This is covered in the whitepaper. It is democratic, in a sense, but it's not one vote per person. By design, your number of votes is based on your steempower holdings - your relative stake in the system.

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