this is an amazing article 👍
i've always been saying steem needs to be decentralized from steemit inc in order to hit the mainstream. but what you wrote here is a much more detailed and thorough explanation as to why.
when one man dictates all the hf and a few whales control most of the rewards distribution, it's not even a crypto and a blockchain. it's just another facebook knockoff.
'wisdom of the crowd' (using ned's own words) is not being utilized here. the collective effort has so much potential than a dictatorship.
i'm still waiting for decentralization of the steem blockchain.
That won't change until the total steem is more widely distributed. The witnesses need to authorize hardforks but the are elected using sp which is in the hands of a few right now. Until the numbers balance more towards the majority then this won't change.
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Well now it becomes chicken and egg. I dont think steem will be that much widely accepted unless decentralization is there :)
That's what we will have to see. It should be an interesting few years.
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I dont follow. One man doesnt control the HFs. In fact, the Steemit accounts, that I looked up, along with @ned dont even vote on witnesses.