The fact you may have solved the over-bidding is huge! I can’t tell you how many times I’ve had a bid and then in the last 30 seconds get overbid from people rushing in. It is quite a pain in the ass haha.
I was about to ask how you solved the overbidding problem. I love the idea of “revenue loss limit”, gives people more incentive to go in on a bid without the chance of losing half of their money from over-bidders. Also, the “25% curation as default” is going to weed out the individuals who rush a post just to get a bid in.
Kudos to you @smartsteem for recognizing this ongoing problem with bidding on votes! Hopefully this is the first step in the right direction for us who do rely on bidding to promote our content :)
Thank you @cryptonewb. We are doing our best to make @smartsteem as safe to use as possible.
Now, for the record: the first person who implemented a revenue loss limit was @yabapmatt with his @postpromoter and I believe a -10% revenue loss limit in combination with the 25% default curation is an incredible combo to provide a reliable bid-service to all steemians.
Good idea