Incorrect. Whales can vote to award most of the rewards to themselves. And as
I explained last year, it is impossible to design a voting rewards from the collective money supply system that wouldn't aggregate the rewards to the whales.
I havent read your entire post but you started criticizing linear rewards, and I really don't get it.
Re-read it until you understand it. Everything else you wrote about it, it's nonsense exhibiting that you did not comprehend it.
One thing I could imagine is that a person empties his entire VP on himself, but remember voting is a social thing. If nobody votes after him then he barely makes money. So yeah a person can vote on himself but the way I experienced it's more profitable to vote on others instead.
Not in the case of colluding whales with significant portion of powered up money supply.
Secondly there is erosion, whales powering down, more investors buying in, and eventually you will have tens of thousands or millions of minnows joining together in some sort of delegation pool (like you see with miners now) who will have enough power to equalize themselves.
You do not comprehend political economics and power vacuums.
You may even be a Libertard. That's the succinct way of asserting that everything you wrote exhibits a lack of understanding of reality.
For example, the argument you make about if some group was omnipotent they would enslave all of us. Yeah. Anyone who was omnipotent could enslave us all. But no one is omnipotent. If you go breaking the laws and creating a system where the whales rape the system, then you end up in a clusterfuck, which is precisely what Steem is and will increasingly become.
If you want to waste your effort building apps for system like that, then please do.
Meanwhile I will focus my efforts on a system I designed which will be truly decentralized and not break securities laws. I would ask you to write apps for it and gain my advice on marketing, so you could succeed and make a lot of money while also helping genuinely evolve the world, but since you're too stubborn to even comprehend the blog post I linked for you, then I think it is pointless for me to try to work with you. Wouldn't you agree?
I want to work with top developers in the industry, not with crazy paranoid people who lack coherent logic skills and who willfully break the law and try to rationalize it with nonsense.
I want to make systems that the masses can feel comfortable to adopt, not crazy fringe shit that the masses will run away from.
When you cited 300,000 signups for Steem and I countered that I had seen many Indians signing up noticed them doing deleterious activities such as posting one word comments on my blogs (ostensibly attempting to get an upvote for minimal effort) or only asking me to follow them, I asserted most would be opportunists looking to extract value from the system while destroying it, i.e. and only scammy Indians looking to extract value from it, will join. I have experienced first hand for example Indians guys trying to scam me here in the Philippines and also when I tried to hire some virtual workers online I encountered what seems to be a cultural attitude of "get mine any way I can". Upthread you criticized me as rascist, but I run into Indian foreign exchange students on a frequent basis here in the Philippines and so far they are the most arrogant and discourteous people I have ever met. Even experienced multiple times females (and males) refusing to make eye contact and pretending they do not see me and try to walk right over me in an area where there is plenty of space to avoid a collision (and doing it not with body language of being timid but one of being arrogant). They will walk right over you on the sidewalk and pretend your a piece of shit for not getting out of their way. I presume just like the Philippines where I have lived on/off for more than 2 decades, there is a reason that India is a hell hole. That does not mean there might not be some good people in India and other 3rd world clusterfucks like the Philippines. And I would of course like to build systems that help people all over the world. But I can also tell you that the gentlemen's culture I experienced growing up in the USA, does not appear to have any place in the culture of some of these 3rd world clusterfucks. If you privately discuss with the locals, the astute ones will criticize their own cultures and admit their countrymen have crab bucket mentality that originates from clan tribalism.
Maybe if you actually lived in a hell hole, had married a hell hole, and been mired in the clusterfuck of the 3rd world, then you could remove those rose colored glasses and comprehend reality.
I actually agree that the world is moving more and more towards totalitarianism because humans are willing to hand all the power to those who control the issuance of debt and turn their kids over to State schools which teach the kids leftist nonsense. And that is why we need to build truly decentralized systems which are not controlled by the whales. IOHK's Ourobos has the same flaws in that it will not reasonably function without delegates, thus the political economics power vacuum will always apply and it will have the same flaws as DPoS in that regard. We instead need a truly decentralized ledger, i.e. not proof-of-stake. Proof-of-work also can not function without being centralized once the transaction fees rise to significantly more than the block reward.
None of the existing ledger designs ameloriate the centralized clusterfuck. I have the design which solves these issues and which scales decentralized, neither of which delegated proof-of-stake can do.
Also Steem's voting system and onboarding monetization design will not scale up.
Downvoting is an abuse of the intention of upvoters to reward content they appreciate. Downvoting by whales ameliorates the economics of Likes and confirms that Steemit will descend into a crab bucket clusterfuck eventually:
https://bitcointalksearch.org/topic/m.21680281Essentially downvoting is censorship. Because my readers did not elect you downvoting whales to be moderators for them. You're forcing your will on readers who do not agree with you. The Internet was liberating because each person could independently publish and source information, yet now Steem wants to tie everyone's shoelaces together again by debasing everyone from a common pool of tokens in order to redistibute everyone's money collectively which is of course a power vacuum of politics clusterfuck totally in antithesis to the innovation of the decentralized Internet protocols. If you do not like my blog, then do not read it. Downvoting is inane, and should only be used to human filter spam. But you want to run your blockchain like a corporation, because it is effectively an investment security corporation. And a corporation can not have more than more CEO. So either you will have an oligarchy that takes control (if not already the case but obfuscated with Sybil accounts) or the blockchain will diverge into a clusterfuck of disagreement.
At the end game collapse is when either the whales start downvoting each other due to fighting over differing ideals and vested interests (which will be accelerated when competition is kicking Steem's butt forcing it to change or die), or an oligarchy takes control of sufficient money supply to run Steem as the corporate token illegal investment security that it is.
The power-law distribution of resources is inviolable. It is a natural outcome of economics and physics. Decentralization technologies have to overcome this fact of nature somehow. So far afaik, no one (other than myself privately) has shown how to accomplish it. Proof-of-work and proof-of-stake have not ameliorated the ill effects of the power-law distribution of resources. Ditto Steem's ill conceived voting paradigm.
EDIT: according to the 24-year old filipino van driver last night he has an Indian student friend who he says is a very good guy. I asked his opinion about the interactions I've had with Indians, and his thought was that maybe they don't like white guys. I'm wondering if it might be caste system related thing. Any way, the reason the foreign exchange students come to the Philippines to study is to improve their English and the low cost. I do remember encountering an older Indian lady on Steemit and she seemed to interact well, but afair she seemed to have had more interaction with foreigners (can't remember the reason, maybe it was her vocation).
EDIT#2:
I'm the dinosaur on wishing Indians adopt my ancestors' values.
(and I did read the entire whitepaper in 2016)