We are rewarding whales left right and centre and it doesn't work:
Steem is falling while Bitcoin is rising:
The world doesn't need another crypto currency. There are enough crypto currency already and any crypto currency who want's to complete with Bitcoin, Litecoin, Ether and any of the other top ten need a unique selling point.
Steem could have that unique selling point: A decent content platform. Without the decent content platform Steem is just another worthless alt coin.
And why the fixation on whales buying more steem. I see no advantage here. I think it would be far better if Plankton buys in to become minnow. And minnow to become dolphins. To increase the amount of engaged users. To increase the amount of content. To strengthen the unique selling point of Steem.
Users beyond dolphins don't strengthen the unique selling point. Quite the opposite. The existence and the overbearing power of orcas and whales weaken the unique selling point by making the platform feel like a Ponzi scheme where only those who joined the platform in the first 6 month have made a profit. And no one who joins now will ever make a profit.
The point is creating an ecosystem and platform that is set up in a way that encourages people to buy in at all. I don't care if a whale or a dolphin buys in as long as they buy in. Without creating incentives for people to want to become a whale or dolphin the platform dies. It's been shown through countless models that when people receive something for free they don't value it, same with free steem, it gets sold.