OTOH, by making this large investment the government will help Steem price grow. And they will not be able to remove any information from the blockchain anyway. And their censorship attempts will be transparent: they will not be able to covertly hide or downgrade posts like it is possible with proprietary centralized platforms. Someone could even setup a "dissident" clone of steemit.com that will prioritize and highlight the posts downvoted by pro-government whales. Also with enough money they may be able to take over the top witnesses, doing so will likely provoke a hard fork.
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It's interesting how people refer to the blockchain as something indestructible, when it's just a database on several computers with known IP's. A physical attack against the owners and their property would work, especially when there are few witnesses like we have here.
Yes, everything on the blockchain is transparent, and the accounts downvoting content will sooner or later be identified (but not the individuals behind them or who paid for the attack). Now that you have a list of downvoters, what do you do?
If you downvote the downvoters, you achieve nothing, as reputation is meaningless - other people's posts are already collapsed and grayed out, and now so will be attackers'. What stops them to continue disrupting the network?
Ned and Dan will have to block their user accounts. Oh-oh... Steemit refuses access to the personal accounts of a hundred people, worth $100,000 each. What will happen next?