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RE: Decentralized Governance - OR - How to align your values to a new system before your preconceptions destroy us all.
This is an older post but it explains it really well: https://steemit.com/steemit-guides/@pfunk/a-full-steemit-user-s-guide-to-steem-witnesses
The only thing is now the list goes to 100 when he says it goes to 50. That was changed recently to help give more witnesses visibility on the page.