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RE: First @ned And Now Steemit: The Powering Down Continues
The amount of money Steemit takes off the top and for how very little was produced this last year seriously makes me question this system big time and shows how flawed a dpos system is.
Sounds like you have no idea what the flaws of DPOS are. The flaw here is centralization, which can happen to any crypto. Ironically enough, if Steemit dumps their stake the platform becomes more decentralized by significant margins.
That is exactly my points DPOS is to centralized and it only becomes less decentralized for a time over time with DPOS the top voted witnesses simply become more and more powerful. Lets admit 90% of the coins are not used for voting on witnesses or on correct witnesses.
Yeah you have no idea what you are talking about. Witnesses are not the biggest accounts. The ability for any account to create inflation without having to buy hardware makes us more decentralized over time. Every time someone upvotes another account we become more decentralized. The platform only becomes stagnant if everyone is self upvoting, and even if that was the case Steem would still have value regardless.
How many people that use Bitcoin create inflation? Miners are a very small subset of the network. How many Steem stake holders create inflation? All of them. Do the math better.
You're also assuming that witnesses don't change AND that they don't sell their coins. You realize the witnesses have server expenses right? Do you think the value that witnesses bring to the platform is not worth what we are paying them?
DPOS is not centralized, the initial distribution was centralized, just like every other crypto that has ever been created. It takes time to decentralize. Your claim that we are becoming more centralized over time is based on zero evidence. There is plenty to suggest otherwise.