I, like many others on the platform have been watching closely what has been happening since HF19. There have been countless posts on the subject too, particularly recently as the price of Steem has been dropping.
I read a couple of interesting posts on the subject this morning by @yoda1917 and @wolvoman80 which have got me thinking so I thought I would add my two cents worth.
Since Steemit is the first project of it's kind it has an advantage in the same way that Bitcoin did as the first cryptocurrency, but unlike Bitcoin which is only used as a medium of exchange or method of payment, Steemit holds knowledge and information that cannot be expunged and this information is dangerous to those who currently control the mainstream media.
There is a chance of course that both Bitcoin and Steemit either are or could become controlled opposition to the currently accepted forms of currency/social network, but if Steemit users are paying attention, thanks to the complete transparancy of the blockchain, they should notice for example if multiple whales suddenly appear from nowhere and start voting down posts on Pizzagate or other subjects that the powers that should not be do not want us to learn about.
If this started to happen, what could be done about it? This is the question that needs to be asked.
In reality, we minnows and dolphins depend on the integrity of the whales and those that founded this platform to ensure that it is a success. While the majority of whales/witnesses genuinely want to see this platform grow, it will grow, and as long as the main players on Steemit (a lot of whom have been here since day 1) when combined, have more Steempower than those that might try to ruin or destroy the site, the damage they can do should be limited shouldn't it?
To be honest, I don't really know enough about how the platform works or what could be done to stop a concerted effort by a large holder of steempower (or multiple large holders combined) from changing the direction of the site of making it so it wasn't attractive to new users, but I am interested in hearing from those that do/might.
Steem on !!!