There seem to be one big issue with this voting system. It allows variable number of votes per individual but how does an individual choose how much cost to take and exactly how much to vote? I think it is a fallacy to assume that individual would set the number of votes depending on how important they think is the issue. Instead they must speculate how others would vote and optimize their cost accordingly. For example, an individual may depend on wrong information to arrive at conclusion that everyone is in agreement with him/her sentiment and decide to spend less even though they deeply care about specific outcome. Mean while a small group might be secretly conspiring and spends huge sums to win their desired outcome. I would suspect that this voting system would promote speculation based market which can be easily manipulated by either asymmetric information or incorrect information by a small group.
Another thing to think about is too many small minority groups. So for instance, assume there are N questions to vote for and for each of these questions, we have a significant minority group that deeply cares about specific outcome. At some point, because of required increased expenditure, wouldn't votes for all questions favor minority sentiment?
I think we have to understand that while there is a dark side to "tyranny-of-majority", there is an important bright side too: It shields from scenarios where small group of radicals take over the system because they deeply care about their ideas that are not good for majority.
Another thing to think about is too many small minority groups. So for instance, assume there are N questions to vote for and for each of these questions, we have a significant minority group that deeply cares about specific outcome. At some point, because of required increased expenditure, wouldn't votes for all questions favor minority sentiment?
I think we have to understand that while there is a dark side to "tyranny-of-majority", there is an important bright side too: It shields from scenarios where small group of radicals take over the system because they deeply care about their ideas that are not good for majority.