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RE: On Voting Bots

in #steem7 years ago

Matt, first of all I want to say publicly that your first point about you wanting to engage with others in a honest discussion about the bots or any other topic is completely true... I have seen you interact on many occasions with me and others that you may disagree with, but you have always been approachable and helpful in trying to get across your point of view. So I think the point that people make about "bot owners" not engaging clearly can't be talking about you, since you are readily available and happy to engage. It is why I support you as a witness because I clearly think that you have the community at heart and care about the little guys too.

On your second point about the advertising, I completely understand the concept. And I would be thrilled to accept that point if people were using the bot services to advertise a product. But from what I've witnessed, I haven't seen anything approaching "advertising". I think most people that use the bots do so with the desire to 1) make a profit 2) have a scheme where if it gets high enough they will get some less informed people to upvote (or follow) or 3) want to increase their reputation so they can earn instant "respect".

Don't get me wrong, I'm not saying all bots need to go simply because they aren't really "advertising" yet, what I am saying is that people can see with their own eyes the truth. And when that advertising argument is used it diminishes the credibility of the argument.

In my opinion, we might one day have advertising so its good to have the architecture in place. And I completely agree some of the bots provide value for steemit, most of the bots provide value to the SP holders (which is good for short term demand for steem as you say), and some of the bots even provide value to the users.

Where I think the good bot owners such as yourself could improve the message is through continuing to increase your transparency... And I know you are the leader in this area as you are the creator of steembottracker which attempts to provide transparency (and does some really amazing things btw). So this comment isn't really so much directed at you, as it is to other legit bot owners. I think the bot owners have made a big effort to do so in the past few months too btw... Gone are the 6 days posts for instance. But there is still a wide range of abuse by the bot owners that give you all a bad name... Things like taking payments and not delivering the votes, changing the rules from one day to the next with no notice, some bidding on their own auctions to give a losing vote value. These are things that if they could be cleaned up will help you all a bit more with the image.

But I will agree with you that the bots are not the cause of the problems that people have with the platform. My opinion is that the bots provide that utility you discussed for the owners of the SP, ie you can monetize their votes so they can be passive owners of steem. Let's face it, that is really what the bots do (including minnow booster and smartsteem too)

So whether the paid upvotes are "advertising" or simply a way for people to make a profit, they by themselves are definitely not the problem. And frankly I use bid bots myself to make a profit, so I don't see anything wrong with that either. I think the problem people have is much deeper, and the bots bear the brunt of the anger as they are easy targets because of 1) some bad apples that take advantage of users 2) lack of transparency (but getting much better) and 3) there is a lack of consistency in enforcement of what is considered "good".

In my opinion, the true thing that people get frustrated about deep down is the point you made here. It is dead on.

I know one of the main issues people have with this is that it’s a small number of “whales” that are earning the vast majority of these returns. That is a distribution problem with Steem which pretty much everyone is aware of. It really has nothing to do with voting bots at all.

It’s just the way that Steem works that these accounts control the vast majority of the reward pool. It’s naive to think that they will give it all away and not seek to earn a return on their investment.

And by the way, I think this problem will get fixed too... One way or the other. People don't like to think that the prices going down are a good thing, but in reality it is how the free market adjusts for imbalances. I have faith that things will get better in the future. And I have a lot of respect for many people I have met through this platform. And that definitely includes you! Thank you for what you do for all of us and for taking the time to talk about these issues that we face in an open and honest way!

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I don't agree with the bidder's profit motive of bid bots, there's clearly no value added in that transaction to the platform, and while I understand that it's something that helps a minnow earn, it does no good for the platform. I anticipate arguments about this attracting new folks to the platform, but I don't think that is the right approach and is largely short term thinking for a social media platform.

As for advertising, I would feel a hell of a lot better if the native promotion worked better and made bid bots obsolete. That leads to a healthier platform in my opinion, because now the rewards pool can focus on content independently of advertising. I already know there are some good ideas for that so I'm curious to see how the discussion evolves.

I hear your point @eonwarped, and as far as user of the bots not adding value of to the platform I would also mostly agree with you. But it is what it is. They way it currently sits, the owners of the system have delegated so much of their voting power to encourage the use of bidbots, minnowbooster, and smartsteem that it essentially necessitates that people earn a profit or their wouldn't be any more vote selling. There are no natural buyers yet of the "advertising", and until that develops we will have the owners do what they can do to get their return on their SP. They aren't going to let is stay unused, I can promise you that.

Yeah I know how that goes. It's just that it's a shame that everyone thinks that that are entitled to such gross returns on their SP to begin with. It's the old fight between doing more for the platform vs maximizing what you can for yourself. In my ideal world even when advertising develops the $$ won't go to SP holders anyway. We'll see...

As for advertising, I would feel a hell of a lot better if the native promotion worked better and made bid bots obsolete.

This is the best possible outcome for the platform.

Currently, SBD is sent to @null for "promotion." In exchange for this sacrifice, you are rewarded with a higher ranking on a separate tab which nobody in their right mind would visit.

In my opinion this was the most terrible idea ever to exist, and I'd like to have a conversation with whoever came up with it. Not to shout or demean or attack in any way... to listen. I want to understand the reasoning behind that decision, because in my view, it alone is to blame for the current situation.

(That's right! I don't blame bot owners for doing what they're doing. They're doing what the platform allows them to do. The bidbot problem is systemic. It's a problem with our consensus code, full stop.)

Let's replace the current in-built promotion mechanism with one that actually assigns higher trending ranking to promoted posts, in proportion (let's say 10x) to the amount of STEEM (not SBD) that was burned. That's the first step and it would help the platform in several ways:

  • Clean up Trending, since users are no longer pumping out low-quality posts just to "promote" them for a profit.
  • Encourage the sale of SBD into STEEM, which would help fix our dollar peg.
  • Encourage the burning of STEEM, which increases the value of everyone's stake.
  • Provide a promotion service the bots simply cannot compete with.
  • End all legitimacy of the "promotion" argument in support of bidbot usage.

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