This is a great start Luke. I think moving towards a form of community governance is required.
One issue that I do see is the same imbalance we see currently with the stakeweighted voting. If there are accounts with 40 million and 8 million steempower (for example ;), the same issue will arise on SteemDAC as it does currently.
I do feel that there should be more votes if you have more stake as it does show more vested interest in the success of the chain, but it also centralizes the "democracy" to 2 (or 1?) accounts/people. Same issue.
I think that there is a way to make something like this work while still rewarding large stakeholders with a large say in the direction of the chain without giving control to one account. I think that is a necessary step in decentralizing the chain.
I also think something like this could work and the constitution could be crafted with rules the community agrees to which could address these concerns (see some of my hypothetical replies in other comments in this thread).
It is called Delegated Proof of Stake not Democratic Proof of Stake.
I am all for it. I feel I should have more say in what goes on than someone who put in 25 cents. I also feel that someone who put in months or years of hard work developing this blockchain and put in thousands of dollars deserves more of a say than me. Should there be a limit? That is all I am asking.
But there is a democracy involved in its governance. The blockchain as it is currently could fall under tyranny based on the centralization of the stake. It is just one solution to the current issue that the blockchain is dealing with.
Agreed, @allcapsonezero. It is facinating to watch governance evolve in DPOS, yet the human committees should be left to the EOS side of the experiment while STEEM seeks software governance in my opinion. It seems too early to assume EOS governance is the answer.
You could very well be right. This is a natural knee jerk reaction to the reality of not knowing where 44 million steempower is going to end up. I appreciate the "experiment" you speak of. It seems accurate.