This is because the talented, the lucky, the wealthy, always get wealthier if they merely develop what they already have. We can't blame Steem for "rich getting richer" because this happens in nature in general. The best Steem can do in my opinion is provide opportunities for everyone to get richer, whether by talent, luck, or consistency.
The main issue which no one is bringing up is the fact that there is no reason to actually invest in Steem to become a whale if there is nothing you can actually buy. In the past you were buying influence so there was a clear product being sold. What is it that I'm buying if I power up my Steem account? I don't earn more from my posts, I don't get more powerful upvotes, so what exactly is the point?
If you can answer that then maybe I can see your side. Give me a reason to buy Steem, to Power Up, and to actively curate, if my votes no matter how much Steem I have, are the same weight as the complete newbie?
We don't really need whales here.
It's nice to have 10 people eager to buy 1 million Steem each.
But 1 million people eager to buy 10 Steem each would do the same job right as well.
But you don't have the marketing capability to get 1 million people to buy anything let alone some crypto. It's hard enough to get 1 million people to buy Bitcoin even. And even if you could somehow convince 1 million people to want to buy Steem it is not easy enough in terms of go to Robinhood or Coinbase for this to scale in that way.
Yes, I agree, my exemplification was too extreme.
Still I think for someone considering developing some blockchain application there's some good intensity to buy 100k Steem now to distribute to his 10k customers later.
And when I do put this persons hat on, last thing I want is "to compete for rewards", instead I would prefere pure PoS
A 500mv vote cap on the n2 gives btc investors a reason to park some of their profits in our altcoin.
More than that is pure speculation on price rise.
They can give the keys to their confidant and let them play the game, or play to get their own roi.
As it is, we are a shitcoin with free transactions, endless inflation, and with a bad reputation of those that benefit the most from buying suckers.
Until we get that rep up off of us, what we have is what we get, imo.