If bidbots are not actually profitable for the buyer, why are you afraid they’ll kill the platform? They’re essentially advertising tools, and ads cost money. If people are stupid enough to pay to advertise their shitposts, the same people will quickly run out of their funds and stop doing it. The rest of us can still create and profit from the platform IMHO.
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No, they are not. They don't increase engagement or eyes on much at all.
Over 40 percent of the pool is locked up by bidbots and this is increasing. Almost no new users coming in have access to that. It goes to only 1.5% of all votes. Those bidbot delegators are no longer looking at other content as they once did, they are blind voting. 10,000 odd people are coming a day but the effective pool is getting smaller. The SBD going to th bidbot operators is 30% of all SBD payouts which the operators can use to increase their stake and increase their selling activities. It is creating a value gap similar to what is happening in the real world, the real world with a crumbling economic system. If there are only bots and buyers, the platform collapses,( that should tell something) as it is just a market place and Steem is just another coin.
But who’s going to keep on bidding if it’s not profitable?
The bidbot operators and a few at the very top will always make profit.
this might help visualise a little:
https://steemit.com/steemit/@tarazkp/bidbots-and-you-a-foretelling
Understand that the operators will make profit but if a bidbot is not profitable for me as a user (and it’s not, we know that) then what incentive do I have to use it, other than push my post to the trending page? In which case it would be stupid of me to spend loads of money on a shitpost to push it to the trending page and then not get my money worth in the end...
Thanks for the link though! I read it but I must disagree with your numbers - because majority of the time the bidding just isn’t profitable. You can even see ROI after curation in the bidbots “Details” section. And it’s almost always negative.
imagine that only the top ten bidders get a positive return and all the rest lose out. Even if al the rest stop using it, the game continues on. Essentially haejin and ranchrelaxo are proving how it works without selling the vote publicly. Pretty much the same deal though by the looks.
Well, I’m certainly learning a lot here. Thank you! I haven seen the war against haejin and indeed it’s annoying to see people like him misusing the platform but as long as this option is built into the existing system, I’m not sure what can stop jerks like him. And I know that’s your argument... I just feel that there’s enough good guys in this community that will fight for preserving the good things it can offer... let’s see!
I am hoping there are some people acting, and as depressing as some of my posts seem to be there is hope. Perhaps I can activate a few of the bigger fish over time, at least that is the plan.