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RE: A bidbot for the people! Introducing @msp-bidbot.
If everybody can just make liquid rewards by delegating SP and purchasing upvotes from these bots, then where does the demand for our steem come from? It seems there's no point buying steem on the market now that we can all just buy it cheaper by buying an upvote.
If the rewards are not liquid and getting locked up in SP (as half the post rewards do) then those rewards aren't really going to be worth what they were when we got them by the time it gets to the market because the competition between vote selling bots and steem on the market will have driven the price so far down.
upvoted for visibility
The main reason for all this are self-upvotes, if you ask me. One of the bots (I think it's @treeplanter) disabled self-upvotes and investments into his bot lowered for around 80% :) Just so you can imagine the statistics
Yes well of course. Upvotes for others would be more like a tipping system and all tipping platforms fail.
Steem is up 5x from where I started. It seems to be doing ok.
There are advantages to using bidbots. There are advantages to hosting bid bots.
HF19 definately changed the curation/vote selling landscape. This is how the program functions now, and we're just making it accessible to everyone.
It would probably be up a lot more if it weren't for all the liquid rewards going to the same people getting the curation rewards. Steem is becoming more centralised instead of less. It's a scam to say that any content creator (who gets their rewards locked up) can profit from this unsustainable system.
That's a reflection of early distribution on the platform. That has to do with the fact that 93% of the steem exists in the hands of less than 0.1% of the people on the platform. It's been my chief complaint since the beginning. My current suggestion is to keep platform inflation at 10% and do that for several years to spread it out over more people.
Yes I know it was a chief complaint. But before these bid bots and vote selling bots and lease delegations came out (scamming people into believing the buyers make money from them) the distribution was spreading outward. Good hard work that added value to the network was getting rewarded so stake did not matter. The major stake holders were powering down and redistributing the wealth. They don't have to do that now. They can just keep riding it till the wheels fall off.
The main thing that will change distribution on the platform is inflation into new posts. That's currently going down a little bit every day because it's set in a hardfork. I think it should be 10% and remain there. I put that in a @minnowsupport post about changes to steemit within the last week to get at the root cause of one of your major concerns.
The second is vote buying. Again, I fought these rules. But they are here. Ironically not using vote buying right now on good posts encourages shit posters. So, if you think you make good content you should be using them otherwise the shitposters that use them will have less competition and more to gain.