I have a hard time seeing how this would go any different than voting for witnesses, which IMO, has proven to be an absolutely terrible mechanic for selecting the most deserving witnesses. In all likelihood the leading vote getters would be the same usual suspects who are already the highest stake users, who are already top witnesses, who are (half of them) selling their vote on top of it. This would just be one more cherry on top for them, they would get all the curation rewards as well.
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I can see the argument here. But they’re all making that money through curation rewards now anyway and this way at least there might be a little more motivation to behave because people’s support for your curation efforts would matter (not to say curators couldn’t form a circle jerk. But it seems most people agree that the top 20 witnesses is not full of assholes. I see an effort among them being made to stop circle jerking each other. Or at the very least stopping support for the ones like Jerry who has been accused of upvote4upvote as a witness.
My point is, it might be bad but it couldn’t be much worse than what we have now.
The only other solution I can think of to stop all the wealth from flowing to the top is to end self voting and multiple accounts by means of ended anonyminity, and this wouldn’t stop circle jerking but at least people might feel more accountable if we did this and then went to a one person one vote system. I don’t like this idea because I appreciate having anonymity as an option, also there are obvious benefits to the community in opening some initiative based accounts. I don’t really want this to be the road steemit takes because if it is, I don’t see it acting very different from Facebook in the future, but I can’t see any other way to efficiently keep the wealth from concentrating at the top at an exponential pace.
Anonymity as a choice is positive for social media but it doesn’t seem to work with this stake based voting system nor does it allow for a one person=one vote system. Too easy to game with multiple accounts and circle jerking. Then again we could turn into minds where everyone is arguing....urgh Hahaha this post is the best idea I’ve got aside from the continued effort to shape the culture of the platform and tovweight everything towards the “middle class” of steemit.