Pushing Back the Plutocratic Elite

Plutocracy is still strong in modern times, with the rich elite having much more influence over the rest of us than we do them. Take the media for instance. Who owns the media?

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Years ago, six years that is, there were apparently 6 large corporations that owned 90% of the media. Business Insider even talked about it. These were Comcast, NewsCorp, Disney, Viacom, Time Warner and CBS.

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The plutocratic elite by extension, also influence much of society, and control the flow of information and what is talked about. Outside of the media, they also control the flow of goods and services in most of the economy.

With respect to crypto, they could easily buy it all up. Maybe they have bought most of it and we don't even know, yet. We could see a future where the same system replicates itself into the crypto sphere.

Steem was started as a blogging platform, a social media based platform initially as the first app. Could the plutocratic elite come in to own this social media platform like they've done int he rest of society?

Steemit Inc's large share of the supply of STEEM has been a point of contention since the beginning. Some people complain about how they shouldn't have the large stake. But then if people like Ned sell their stake, they complain that selling lots of STEEM is devaluing the price and tanking the value.

Maybe having such a large supply was to prevent larger abuses through too much influence from bad actors with lots of money? What if it was to hold off adversarial take overs of the platform by the ultra rich plutocrats that currently rule society?

If Steem was trying to change the way things worked, by trying to get away from the current system of government and banking system control over currency (as @dan/ @dantheman seemed to have desired when he created it), then maybe holding onto a large part of the stake was a way to prevent the plutocratic elite form coming in and taking over outright.

Inventing something like Steem and STEEM had many unknowns. If some rich people bought up the coins, they could have controlled the way the platform went through their direct influence of rewards and witnesses. After all, one of the issues with Steem is that it completely revolved around stake, which means the power is in the purse. Money rules the platform by means of STEEM Power. Those with the money decide who get rewarded and what witnesses make it higher.

The upside of crypto like STEEM is that we can potentially stay out of the grasp of the plutocratic elite, the banking system and the government control. But it's not a given.

Is Steemit Inc's hold on much of the STEEM a good or bad thing? Have your say. Let me know what you think!

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Thank you for your time and attention. Peace.

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