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RE: My First Reaction To HardFork 20, "Velocity" - Proposing Mining via Proof of Burn and Proof of Transaction

The beauty of Steemit, as Dan has spoken about, is that people don't even need to know about Blockchain, Cryptocurrencies, Witnesses etc. to use it and enjoy it - the barrier to entry is incredibly low for a Blockchain product. We should not raise it

I don't know where Dan said that, but his articles were certainly not for beginners, lol. The structure works without the need to have too much knowledge, but it's the people with a bit of knowledge who are trying to get advantage by creating multiple accounts to get free STEEM. This is a much bigger problem than it seems. If somebody creates 10,000 accounts and it gets $5 worth of STEEM for each of them and then dumps $50,000 in an exchange, that will drag the price of STEEM down. So it's everybody's concern.

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If somebody creates 10,000 accounts and it gets $5 worth of STEEM for each of them and then dumps $50,000 in an exchange, that will drag the price of STEEM down.

I totally agree. It's definitely not a trivial problem to solve.