A potential flaw with Steem Power? Does it actually solve the wealth distribution paradigm as some would suggest?
The more I settle in with the this new platform the more I am able to see the potential that Steem has to offer. However, that doesn't mean Steem is a flawless platform by any means. I understand that we are very much in it's infancy but I wanted to raise an issue that I see with Steem Power to get the community's feedback.
The issue that I have with Steem Power is that it seems we are still in a situation where the rich get richer. Since Steem Power can both be bought and earned we are in a situation where a select few (the whales) have great influence over those that do not have as much in Steem Power. The amount of Steem Power SHOULD dictate your voting and curation power but NOT if Steem Power can be bought. This sounds way too similar to most governing bodies and politicians. People that have bought they way into power and are now decision makers.
If Steem is a 'Platform of the People' then Steem Power needs to be earned, not bought.
This is just an observation. I look forward to the dialog that it creates.
Income inequality will always exist because of the Pareto principle. Whoever built this place we call "reality" didn't have equality in mind. 80/20 applies at every level...we were 20% of our clothes 80% of the time, 20% of beer drinkers drink 80% of the beer, etc.
What's most important is income mobility. Authors reward decentralize power by distributing SD and SP to them via subjective proof of work. I was here in May & June and didn't participate in mining. All my SP and SD were accumulated via this mechanism. And there will be many more who will become mini-whales and whales this way.
When it comes to curation reward, this one is the opposing force. It is made in a way to incentivize people who have a lot of SP to be active and police the content for profit...for them there is a 10% inflation per year so in order to not reduce the value of their holdings, they have to curate the content and care for the future of steemit. Otherwise they could just disappear, drink mojitos on the beach and "Never Work Again".
Agree but are we not subject to whatever content they find 'valuable'? So if they have a particular agenda or view, the articles that they deem valuable will be more visible. Not necessarily the transparency we are looking for on Steem?