I also wonder how steemit is dealing with fake members. I'm a developer and I could see someone developing a bot to create fake accounts and upvote for his own cause.

There will be tons of developers and system administrators that are going to give a shot at frauding this system and I think, especially in this early stage it will also work.

is this a bubble that is meant to burst sometime? my research has shown that most crypto experts see steemit and steem fail.

I hope it doesn't... or if it does that I atleast get something out of it ;)