Is STEEM's main weakness the chaotic governance by the whales? However, it will get better with time through adaptation!
steem·@riseofth·
0.000 HBDIs STEEM's main weakness the chaotic governance by the whales? However, it will get better with time through adaptation!
STEEM is recently ranked number one in the new Weiss Rating. It is the only coin ranked B+, while Cardano is rated B, ETH and EOS dropped to B- rating. STEEM's only negative point is chaotic governance by whales and skewed distribution as noted in the report. However, as time passes both governance and distribution may get better. Recently, @dan has a post about EOS, announcing its developmental updates. @ned not only downvoted it but also, commented with $2000 STU (STEEM Token Unit). He has eventually withdrawn his upvotes. However, it went like a firestorm over the community. The community was quick to criticize @ned's action and advised him to take fight out of the blockchain. @ned's claim was that @dan was advertising EOS's superiority using its competitor's platform (i.e. Steemit). I personally believe @ned's action was unprofessional but he is a smart leader and quick learner. There is another whale @transisto who upvotes one sentence comment to [raise fund for STEEM's developments](https://steemit.com/steem/@transisto/temporarily-pausing-my-anti-abuse-efforts-while-sbd-is-off-the-chart). For newcomer, it may look abusing at first time but @transisto is good whale who has lots of contribution for the blockchain. If someone looks into comment's payout (https://steemit.com/payout_comments), he/she will find @grumpycat is earning over 100 STU over simple comments. His work is little bit confusing. He is running a successful campaign to force bidbots to set 3.5 day voting deadline. He still flags posts that uses bidbot with more than 3.5 day vote deadline, sometimes, innocent posts. It could be that he is compensating his work with self-voting on his comments. Another case is a whale @ranchorelaxo with more than one million SP only votes 8-10 times on post by @haejin. He does not post by himself and has history of down-voting others who write or protest against him or @haejin. The war of whales between @ranchorelaxo and @berniesanders was ruled few days in the trending page with peace inter between. However, I believe this is the experiment for the good cause. The system is working in self-regulating ways and adapting to the betterment of the system in a decentralized fashion. In future, STINC may delegate its stakes (SP) to address these issues in a decentralized ways. It also shows that anarchy works, evolves and adapts in a decentralized system, its not good or evil! <center></center> Image sources: Most images are open sourced (e.g. Pixabay) with Creative common license. Some images are used with due courtesy to respected owners. Thanks for reading. @riseofth Cryptominer since 2013, occasional trader and tech blogger