I often hear people complain about bots and how ultimately they are a way of earning extra ROI for investors. Well, Steem Power holders already get rewarded just for holding steem power. Should they really be getting this extra ROI?
Maybe this should be going to content creators like most people expected when they joined steem.
Here's the good news, you actually don't need that much steem power to make bidbots unprofitable for the user and therefore the provider.
If a user buys a $55 dollar upvote, chances are they paid around $50 to the bidbot. You only need to remove $5 worth of rewards to make this whole enterprise unprofitable for user, suddenly their ROI on their bid has gone and for the bidbot, it's clients.
So... If anyone is serious about removing bidbots from the system.. you only need 1 Steem Power for every 10 they hold.
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Really? My experience with bidbots (it was a while ago) is that you pay $55 to get the $50 upvote. Users of the service are already set up to lose.
Where is that $5 coming from and going to if not into the hands of bidbot developers?
The ROI from bidbots can get negative when there is a lot of demand, but they can be profitable which is why some use it as a way to compound their growth quickly by buying large votes.
The general model is, you sell your $55 vote and get more than you would have got just for the curation. A normal voter would only get $12 or so, while someone selling their vote gets a lot more.
It's basically a pooled self voting in essence.
Same here.. i made some trials..
Some are mildly profitable but 1 out of 10 times you are getting ripped of or only little votes..
This drags down the roi below 0.. does not make economic sense imho at all..
Appart from the facts that the bots are destroying steem...
I don't know what you are doing, but I never use the big bots for returns. It's always the smaller ones that offer better returns since they are all too lazy to implement a cap on their ROI.
All of the bots will be rendered obsolete once a decentralized free market replaces them. Then it will be even easier to make money off them.
While I do not use them, I still think they have a role in the ecosystem and it is up to projects and the community to create an alternative to attract investors to delegate to them instead of the bots. Open markets will always find the best efficiency for those seeking it.
Posted using Partiko iOS
The question is, do bidbots help the greater good of the steem ecosystem?
I agree that for many with steem power this is one way to get some additional rewards for their investment. Even I sell my vote when my voting power goes above 95% so it's not wasted.
But, for a moment, lets dream. Let us imagine steem where all those votes from bidbots didn't need to be paid for and those content creators actually got those rewards, it suddenly makes steem a very attractive place for users.
Posted using Partiko Android
Promote contentCreate massive inflation and sell pressure.There are many who believe bots attract "investors" to buy Steem. From all the bid bot abusers I have flagged, most of them only purchase that initial several hundred Steem. After that, they just ride off the margins they make from bots.
You will never see them buy Steem again. More oft than not, they bid on shit content anyhow. They can't even be called content. More like placeholders for upvotes.
Luckily, these type of "users" are easier to deal with when blacklists can be applied and they receive negative returns.
Yes, bit bots is not a very profitable way to make money..
Funny thing is that good content is the best way to make money and for some strange reason people do not use it!
Unfortunately, content discovery is still a big challenge on steem, it's why user retention has been so low.
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