RE: Five Ways to Fix the Witness System

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Five Ways to Fix the Witness System

in witness •  last year  (edited)

Change the Vote Weighting algorithm
In a 'normal' democracy there is the rule of 'one person, one vote'. In the right-on decentralised world of steem we have the rule of 'one dollar, one vote'.

Funny, I just posted about this yesterday. I'm a relative newbie and a nobody so of course no one will see it and even if they did they won't care. I just wanted to vent.

But basically, I don't understand why voting is based on "wealth". The richer you are, the more valuable your vote. I have never seen this anywhere else. To me, this system is designed for the rich to be in control and also to make it easier for them to get even richer. In other words, it's designed to be a plutocracy.

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