STEEM is not decentralized. From the beginning it was and still remains highly centralized. The launch of the STEEM network was heavily rigged to ensure that the developer and his ‘friends’ had control over majority of supply. Furthermore, this has major implications for the Steemit platform.
Simplified overview of STEEM and Steemit.
Rig the distribution process so that you end up with almost all of the STEEM supply.
Create a platform that allows for the monetization of content.
Make sure certain users get extravagant payouts to lure in more users (the payout is a tiny fraction when compared to how much STEEM you and your friends own).
As more people are lured in, STEEM becomes more ‘valuable’, resulting in those who own majority of the supply getting rich along with the select few they choose.
What do you guys think?
According to this post, if this is the truth, my post will never see the light...as it is controlled by the devs,etc
resteem and upvote!
Source:https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156
