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RE: New Year, New DevPortal Updates

in #steem6 years ago (edited)

Crypto is all about inequality. Every single crypto token has rampant inequality with GINI coefficients >95. Makes even the most inequal countries (GINI ~50) look egalitarian. It's what pure capitalism looks like. The only way to balance inequality is taxation or wealth/income caps. (These take many different forms, so it need not be traditional taxation.) Which is the furthest from crypto and infeasible due to sybil attacks. (I.e. if there was a limit to how much each account could hold, they would just split into multiple accounts. Same goes for taxation.)

I have some good news for you, though. Ned and Steemit Inc. have been working on SMTs + Oracles with identity verification, which will offer each person the same vote. Not for the common Steem reward pool, but as an option for SMTs. No one knows when it'll release (a long time away), but if any major SMTs adopt the one-account-one-vote algorithm, that'll be the closest you'll get to equality in crypto. Of course, even with such a system, there'll be rampant inequality with token holding.

Read about SMT for more details - https://smt.steem.com/

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I'll let Jimmy Dore to the speaking to show the point:

Identity Verification is not the solution either. As it completely undermines PRIVACY.

BTW I just discovered how 2 factor authentication is being used to hack all kinds of accounts. And it shows that the use of a phonenumber as ID is broken by design.

Thank you for this @liberosist.

TAG: @gadrian

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