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RE: STEEM governance: An open future question?
That's an interesting question. I'd think that if this was a real danger on Steem, then there would already be some movement in that direction. However, people will always be motivated by economic interest. And as long as there is volatility in the crypto markets, I'm afraid short-term interests will win out over long-term interests most of the time. So, yes, I'd argue there is a danger of this happening with any blockchain based on DPOS. But it's not guaranteed to happen. EOS may have been a special situation where controls weren't set up early enough to protect the entire chain from this type of corruption.
I think that at the moment... the 13 day powerdown window protects us substancially... however, the low STEEM price protects us the most. I'm not sure that things would have already started if it were a danger... after all, the exchanges have only started in the last half year to begin rolling out staking as a service... and they are moving through the PoS coins...
Yeah, good point. The price is a sort of protection. So do you think they'll eventually allow Steem staking?
Quite possibly if the price makes it worthwhile... I already think it is possible to get around the 13 week powerdown with the Lending Lockup that they offer.
Hmmm ... I haven't heard of that. Steemit is doing that?
No Binance is doing it with other coins...