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RE: Part1: Why SteemIt is going to fail, if these issues are not addressed quickly, and what we can do to prevent it....
I love Steem and think it's a worthy project, I do think the upvoting based on steem power and might of those to destroy reputation etc. isn't great and creates centralization of votes and power. If anything reputation should count more than wealth and giving equal footing to all steemians encourages use and growth. This monetary factor is creating a lot of hate and downvotes in a forum ment to unite.
Looking forward to delving into the financial aspects and how Steem plans to continually pay posters without the funds from upvoters.
part 2 is up
please read
I am going to use some very simple business principles and numbers some that have been around a long time. Even ones from 100s of years before the internet...lol
But they are all common sense once you see what I am getting at.