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RE: Look Out Fam: Justin Sun is at it AGAIN!

in #steemtron6 years ago (edited)

This is a good thing for Steem governance. One problem with DPoS is that it weights governance by stake, and this demonstrably has caused issues with other entities IRL, as stock corporations are similarly governed, and innumerable examples of stock corporations going awry exist for us to learn from.

The extant mechanism of witness voting multiplies the governance advantage of large stakeholders by 30x, which exacerbates problems that stem from stake weighting 30 fold. The advantages of holding substantial stake are multiplied 30x, and this is why the founders made this rule, because their stake's ability to allow them arbitrary control of Steem governance was multiplied 30x, and this allowed them to instantly govern Steem by controlling the witnesses without exception in any event that challenged their control of Steem.

None of the founders now control that original stake, and I believe @justinsunsteemit, who does, has good reasons to want Steem to be governed well without his arbitrary exercise of control over it. He has other irons in the fire, and his main interest is Tron, where he needs to spend most of his attention. He wants Steem to succeed, but he wants it to succeed without his micromanagement, and optimizing DPoS through this rationalization of witness voting is one of the best ways to do that.

DPoS should be 1Steem=1vote, and that's simply the fact.

Thanks!