Excellent explanation, thank you. I've been a horrible participant in this democracy and intend to change that by consistently voting. Since we're on the topic of voting, i wanted to raise this question/issue:
QUESTION: Is it true that only the BTS balance counts towards voting? As in, assets, smartcoins, and open order and borrowed collateral balances (or BTS equivalent value) do not count?
ISSUE: If so, this system severely penalizes investors in our products, traders, and those providing liquidity to our system by borrowing these products into existence.
This system bifurcates incentives--you can either hold a large BTS balance to vote, or you can participate in our markets and thereby lose voting power in how the system is governed.