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RE: How to Solve Fake News with Proof of Consensus and Blockchains
I like the concept and well written.
I agree with pretty much everything you said and i will pass it along my fb and twitter.
But steem is not consensus based it's steem power based.
If 300 minnows agree on something 1 or 2 whales can out do us.
I like the system here, sometimes it gets on my nerves but it serves its purpose as a blogging platform
What would stop CNN (any msm) from buying $4 million worth of steempower under pseudonym and then they control the narrative?
People will start chasing those votes and writing to appeal rather than writing to express what they truly feel.
I've written in the past steem isn't taken seriously outside of the platform and that is what hurts it from growing.
Always happy to hear from you.
There is a fundamental difference between reward distribution and publishing of content to your followers.
In this case I am referring to censorship of transactions on the blockchain, not curation.
If someone wanted to buy $4M worth of STEEM then the price would quickly climb back toward $4 and they would have influence equal to a few whales. If they use their voting influence to promote garbage then other whales would probably counter them.
It is true that whales control the narrative on Steem by directing the rewards. But people get to choose whether or not to follow the vote ranking or to simply look at their own feed of trusted bloggers.
ah so. If it's just the transaction your talking ya that makes sense. It is a solid platform.
If I win the lottery I'm spending it all on steem.
and thanks for quick reply.