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RE: Why whales are needed - and a proposal to insure the massive success of steemit, ie Subtractive Upvoting Gradient
It's not even whales who would benefit from Sybil. Anyone could attack the platform that way.
I still dont understand how using a subtractive effective SP makes it rate limiting...
It only reduces the power for upvoting someone with a lot of SP, even if the subtractive factor is sqrt(SP author) it biases upvoting to the smaller SP authors.
There can be a million sybil accounts, but what does that gain? The whales have to vote for them and if a whale is voting for newbie accounts that he controls, this will be noticed wouldnt it? especially if the content is weak. So then he needs to hire writers to create useful content, in which case it creates useful content
Maybe I wasnt clear that this was just to reduce upvote power and not to increase it, so whatever attack you say it has, the existing system can be attacked the same way with more power
i must need more coffee. could you explain where the attack is?
Anyone could mine and / or create accounts for relatively cheap. Even at the current difficulty levels now, you can mine 10 names a day (if not more) for a month at only 60 USD. That's 300 names for 60 USD. Now, do that with 15 servers (less than a grand) and you have 4500 names.
Then, it's relatively simple to write scripts to upvote content and you have sybil. Once you have a limiting rate effect of SP, you invite this type of attack.
In addition, it adds additional strain on network.