smooth i am too sleepy now to digest your last post. If what you say about 2N is correct, perhaps that will moderate my view on fairness. I will respond after I sleep. First day I had the energy to go 28 hours without sleep in a long time. I added to my prior post as usual.
The R^2 weighting does not work the way you suggest. Yes, posts are R^2 weighted, but users are not. i.e. two users with N stake both voting on a post have about the same total voting power as a single user with 2N stake.
So you mean that all votes stakes are summed, before the square to form R value? Instead of squaring each stake and adding the squares to form R sum value?
That is the account that collected the "sneaky-mine" coins (originally about 80%, but less now). It does not post, does not vote, and does not receive rewards. It's purposes are to serve as a source of coins to fund free accounts for new users, to sell coins on exchanges to fund development, and to serve as an asset of Steemit Inc, allowing the company to profit from the success of the platform. The first two of these obviously redistribute stake, and do so in a reasonably transparent way.
So @dantheman's personal stake is not the largest of the voting stakes?
In practice, most of the rewards are going to successful and talented bloggers who have joined the site since launch. I expect that as the site grows and pulls from an even larger talent pool of posters and bloggers, the current ones may be pushed aside, at last to an extent, in favor of the greater talent and stronger celebrity status. Maybe that is a bad thing, since talent and celebrity is somewhat narrowly distributed, but in any case it isn't going back to large early stakeholders. We're all being diluted, and at a pretty good clip too.
You holding SP are receiving 9 new tokens for every 1 new STEEM, which is also the rate of payout of the posts. So I guess the dilution are these payouts?