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RE: ADSactly Witness Report 2018/04/05
I appreciate your work and have already voted for you for Witness.
In Steemit (POS) there is also a concentrated group that controls a majority. According to @arcange there are 36 "Whales" who control 63% of the voting power. While not as "bad" as bitcoin mining, they still control a major part of Steemit and to a great degree determine who and how the rewards pool will be distributed.
Hey :)
Voting power and Witness are 2 different things. Witness have the power to influence Hard Fork.
Witness can for example influence the way those 36 Whales can vote.
I meant SP not VP.
perfect explanation, thanks @folken
Thanks for the clarification @folken. I see more of the difference now. My concerns are still the same but not directly correctly.
The whales have a very, very large influence on the day to day functioning of Steemit as they control the money. On the one hand they should have the most SP/VP as they have the most invested. On the other hand 80% of the people have left Steemit. For many of these people it isn't that they don't write "good" posts. It's because they get very little return for all of their efforts. That's what I feel needs to be addressed.
I've read so many blog posts on this arguing both sides and why something will or will not work. I don't claim to be an expert in Steemit or even the crypto world. I do like Steemit and want to see it continue. However, I do see a problem here and now you (@adsactly-witness), as a witness, can perhaps address this when policies are being discussed.
That should say just SP, (not VP)