Replying here due to nesting.
My support really has nothing to do with witness votes. I have been discussing changes with many people in the community to look for ways to balance out the interests of the original stake-holders, with those of growing the platform to scale to billions of users. It is widely agreed to by most people in the community that the distribution of stake is one of the bigger issues holding the platform back from growth.
You can read some of my views on the subject here:
https://steemit.com/steem/@timcliff/whales-can-the-community-buy-out-a-portion-of-your-influence
Also, this is not just @abit's initiative. It was discussed among many of the whales, and there seems to be a majority consensus behind it.
The majority consensus to flag people with whale accounts who gain support of whales?
Ok so what happens when a bunch of "whales" just power down into 100 small dolphin accounts and start upvoting things? Where does this madness stop?
The problem with steem isnt the distribution at this early stage. Its that we have groups of whales who decide its a good idea to start MISUSING the flagging feature of steem!
This is ridiculous. The system at present is FINE. Steem has been ive for less than 1 year in Beta!
The way to fix steem is to actually change the N^2 aspect of rewards, not to flag peoples content! There is historically consensus on killing poor jews too...