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RE: @snowflake's really interesting proposal - Turn whales into moderators and give dolphins all the voting power (TLDR Version)
Moderators won't be able to allocate reward to a specific user, so they won't downvote because they "prefer" they will downvote because they think the content is not worth the payout.
unless they downvote everyone else.
This wouldn't work as the content that didn't get downvoted by the whale would get downvoted by other moderators which would make the whale downvote moot.
We've seen this situation play out many times on steemit, where a whale upvote content and another whale that disagree with high payout would downvote to reduce rewards.
The scenario you describe would only be possible if whales would coordinate the attack and that there was more bad whales than good whales in the system.