The whole system is biased from the start. By inviting useless users who want to make a quick buck first instead of the smartest people in the world (univ teachers, professionals in every field, univ students, etc).

Money is flowing to the wrong people, Power too. Instead of a platform that should be creating value to the world we have a platform full of users trying to extract money from it.

In the long run i believe the whole platform and steem will collapse, because you can't sustain such withdraws of wealth forever if you don't actually create real value. Less than 1% of the posts created on steemit are worth something. The rest is not valuable.

I believe that's why the whales are all powering down, because they smell blood : http://steemdown.com/