@stan.distortion Understood and I contemplated this for quite a while but ultimately I concluded that deep pockets (Binance etc) would ultimately spin up masternodes to gain votes and that would be no different to where we are now. AFAIK, Binance is running 120+ masternodes using customer money and they haven't used them to vote
yet.
This proposal has a few safeguards that I think is better than the current system:
1. With the current system, voting can be done within hours of setting up a masternode. Under this proposal, voting must be registered in an earlier voting cycle.
2. Votes are cast against dash usernames, which comes at a cost. If someone wanted to place large blocks of votes, they would have to registered hundreds of usernames to try and hide the fact. Perfectly plausable, of course, but I'm thinking this process might give us a better insight to voting activity.
The incentives for running a masternode would remain pretty much as they are now. Maintaining a masternode produces a financial reward and the 1000+ dash collateral would give similar voting power. Perhaps more so because under this scheme, if an MNO is accumulating dash - not spending all their rewards - then they would have more voting power, which is exactly the incentive you want, people with a long term vision.
I also agree that the weight of masternode votes at 1000+ dash is likely to eclipse smaller holders, but I see this as a positive because I didn't want a proposal that is so radical that it's uncharted territory..The stats from CrowdNode seem to support this.
By opening up voting, we can help our users feel they are a part of a process, not some ivory tower of rich kids. This also simplifies future development of masternode shares. And on top of that, it's a great way to showcase Dash Platform.