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RE: How Did Our Bid Bot Experiment Go?
Exactly, it was great promotion. I think if more people used them and drove up the bid prices... then people would only use them if they really believed their content was high quality, thus perhaps creating a better trending page... but I guess we'll see how it all plays out!
Hey, top follow up track! Glad you picked up some more Cryptobabes :D
I'm just wondering about this:
Currently, I don't see how it would work out that way, but am happy to be educated.
To me, more users would mean fuller bidding rounds (depending on what limit the Bot has for ROI) and thus a smaller vote = less promotion. The only winners here being the Bot owner and delegator/s.
Anyway, the 'experiment' continues and hopefully Steem will make it out the other side!
Thanks man! When bid values exceed payout values (so a negative ROI for users) then instead of an arbitrage opportunity, bid bots will create a true market for promoting content. If users can only use bid bots at a loss, then every dollar spent on that promotion is presumably backed by content worthy of that promotion cost. Does that make sense?
Of course, as you mention, the down side is that the bid bot owners/delegators will be making an increasingly bigger ROI for doing basically nothing lol.
I think it would be a cool experiment for the community to publicly create a bid bot and burn the private key, and then the account just powers up all the bids, but essentially all STEEM/SBDs sent to that account would be powered up forever. So it's kinda like burning the STEEM, which would profit the whole community rather than a few individuals.