RE: The Bidbottophant tool - graphics
Probably wasn't worth trying to res the other post as it was hit with a full -100% from a vote bot with over 1m SP
Bid bots are bad as they inherently undermine proof of brain - a system where votes are meant to be an honest reflection of the voters subjective valuation of the content.
Bid Bots effectively takes those voting rewards meant to incentivize the content creator (author rewards) and redistributes it between the stakeholder, bid bot owner and vote buyer, leading to profit maximization voting behavior that's indifferent to content.
Note that after the economic reform we wish to reach an equilibrium where every stakeholder settles for roughly 50% returns in honest curation and keep each other in check with potential downvotes. Bid bots undermine this process by offering far higher staking returns at the cost of content indifferent voting behavior which is damaging to the entire ecosystem as a whole. If vote sellers are getting 80-100% returns selling to bid bots, what does that make the rest of us trying to curate content honestly and only getting 50%? Idiots? Suckers?
Notice this problem exists irrespective of the content quality of the post buying the votes. Because if over time most stakeholders settle for 80-100% returns selling their votes, then gradually very little good honest votes are being cast. This inevitably leads to the gradual deterioration of content quality platform wide as its creation is no longer being incentivized.
That's why I'm fairly strongly against vote selling and believe if it continues to exist at this scale it'll completely destroy any possibility of a Proof of brain system.
Thanks for the upvote, it is giving me back some confidence in Steemit.
and I agree completely.
I am not against business ideas, but bidbots mess up some of the fundamental ideas of Steemit and therefore they simply have to find new ways of using their SP. Even in the most liberal countries you are not allowed to dig up the roads because you think there might be gold underneath.
The reward should reflect peoples valuation of the content - that is the whole idea behind the distribution of Steem. Mess with that and you destroy the system.
Even though I have been here for three years making hundreds of original, professional level artworks and powering almost all of it up I would rather leave this place than succumb to threats from some wealthy racketeer. The way he responded just shows that if newsteem is to work, him and his business model should be something of the past. If not I will simply leave. My 14,000 SP is worth nothing thanks to the bidbots anyway.
You can't expect an economic system of selling votes and another of honest voting for curation rewards to coexist over time
One will naturally out compete and subsume the other
Now with the new economic tools such as free downvoting, we can fight for honest voting to be the dominant form of rewards and anyone buying votes will risk getting hit hard by downvotes
If we lose this fight, then slowly they're be fewer and fewer downvotes going their way and everyone will just sell their votes for like 90% of the return of their vote value. Why settle for 50% if you can get 90% unchallenged? Then we're just down shits creek again like before.
They'll cooperate as soon as the zeitgeist shifts. That is the way of the hustler mind. Let's just hope we will be able to actually make it shift :)
There's a huge big audio debate going on right now with @fyrstikken, and there seems to be progress being made. It might finish ... sometime tomorrow, and I thought brexit was a tough argument...
@traf,
Yeah agree with what you said, but people like us (minnows instead of dolphins and whales) has a less chance to trending our contents, specially whales and dolphins are not being interesting to check other posts than trending! So basically this problem might be resolved and then yeah we don't want bidbots!
Anyway what do you thinking about community bots? Coz I am planning to make one for my token project!
(My comment is not that stupid right? :D)
Cheers~
I have been here for a very long time and I never looked at the trending page cause it was always full of garbage. The problem is that people who might consider coming here will be driven off by the trending page.
Bots are fine. If they do make Steemit a better place you might even earn something from them. But bidbots just is a wrong and destructive concept.