Steem isn't working because it has a worse governance structure than the US government. A representative plutocracy, with a shit distribution. Look how much energy is wasted with accounts like and all his "foes". The only way to beat the massive inflation in this system is to fight back with selfishness and self vote yourself above the inflation rate. Witness responsibilities are vague. Accounts are impossible to get for the average person (I have a friend who has been on a waiting list for months). Who is going to use a blogging platform that is Pay to Play that has almost zero viewers? It's not a coincidence that the view count was removed from steemit.com, nobody looks at content here.
The only way a system like this can work is through co-operation but there is no mechanism in which to cooperate. It just becomes every person for them selves, who can find the best delegation bot, or suck the proper orifice for upvotes.
#1 problem with steem is distribution which puts the responsibilty of the platform on the 'whales'. This platform has stumbled with no focused attempt to get actual users on the platform. With curation being broken There needs to be more delegation to hire professional curators for the network... the front page has been embarrassing for the entire two years I've been on the platform, and genuinely interesting bloggers have been overlooked again and again. Users need either viewership or compensation and steem has provided neither except for those who have bought in.
Please act like an open source project and opensource your SMT code, maybe the community can actually get it done.
RE: Steemit Update