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RE: Did You Know: When you post using eSteem, 5% of rewards are disbursed to @esteemapp? Also, Self Voting Witnesses - a slippery slope, or a level playing field?
I am going to have to do this forensics now, on the dynamics of witness voting, identify the circle jerk, because I am now certain there is one. It only takes 2/3 witnesses mutually self voting and they can hold the majority, and pass whichever hardfork they want.
Talk about a simulation of democracy... I'll get the hard numbers, publish the query script, and if I am right, thtis could be the evidence required to prosecute Steemit, Inc for running a scam.
It does however, also disturb me that another thing springs to mind as well. Steem Power could be judged as a security. This would also be quite interesting for the SEC to understand, I think.
normally 2/3 should be a lot of people!! But it's only 14! not enough for securing so many people.