EOS
$2.79 1.62%
EOS · 40w

Eos BP pay based on voting results is bad

I just wanted to start by saying I'm an an EOS token holder and have high hopes for the network however I just saw one of the later videos by EOS go which talked about the new system where BP pay will be based on the amount of votes they get. I am a little worried about this for multiple reasons. There are many economies where this type of approach did not work and only favoured the top earners. Spanish football league used to distribute TV license money based on standing which means that the top clubs would always get the largest portion of the profits. This resulted in larger and richer clubs get more money which they could use to become even larger and richer. A similar scenario is now happening with bitcoin mining. More money you can put up for your mining farms allows you to outperform lower end miners resulting in larger profits. In both cases larger profits means more money to spend on being number 1. This will make BPs extremely difficult to displace in an organic, democratic fashion. Top BPs will be able to spend more money on marketing and equipment and other influence and incentives making the eco system unfair for community projects. All the promise of running a node on mediocre systems have become obsolete. Can someone debunk this theory without calling fud, I like eos but all the talk about decentralisation etc which I myself have been preaching to others don't seem to have a leg to stand on.
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