In other words, steem the community has become steem the infrastructure. a lot of the community will wither away. the only ones who will stay back are those that have financially invested and only for ultimately cashing out. i do find it odd that a system that started with proof of brain is now ignoring the very brains that got it to this point. we will ignore it because that topic does not seem to have much mindshare.
we now delegate the decision making of how to curate content to anyone who holds SMTs. maybe they do it using accounts or they have their own algorithm built on top.
However Steem the infrastructure must solve the problem of weighted voting because what is the value for an incoming token holder? we have to provide them with a system that cannot be gamed easily which they can use without too much development.
Let us take Medium as an example. they already have all of the following:
- consumers
- content
- content publishing app
- feeds/digest
- votes/claps/...
- some kind of curation infrastructure (editor, group...)
- some kind of analytics platform
why would they want to come to steemit?
it can only be due to their desire to crowd source their writers/curators so that they can scale. to crowd source writers, they need to show transparency and rewards. To bring in more curators, they will need to be convinced that writer-curator collusion is avoided.They also need to prove that their system cannot be gamed. their readers need to know they are not being scammed.
it eventually comes back to Steemit the infrastructure to prove that it has a framework that provides the best possible solution which cannot be easily compromised.
just imagine that if we solve the curation problem we can be valuable to 1000s of content publishing powerhouses. removing stake based voting is a good step because then it introduces some kind of democracy. we have to introduce consensus driven curator reputation based voting. Move the rewards pool for content creators to our own SMT pool.
the pressure to fix those bugs in voting will only increase with influx of SMTs