Most bots have a profit/loss % set. Which means if you bid carefully you can get more value in votes than sent. Similarly, if you bid bad, you can lose money.
I know bid bots are hated by a lot of people on steem but do u ever wonder, what will happen to steem price if all the bid bots are stopped from operating. They will have no use for the steem power they have. People with millions in steem don't have time to manually curate. They will sell thr stake and move on to some other platform where they can grow thr money. Bid bots are part of the ecosystem. In fact they might be the one still keeping the price of steem where it is. I haven't used a bot in quite a while, but when i did, it was still profitable.
My argument here would be that there is no reason to auction the vote. Just sell it for what it's worth if that's what you want to do.
As much as I hate vote selling in general as I believe upvotes are not a commodity to be sold but rather a mechanism for gauging user contributions. A few of us have discussed what sort of alternatives could be developed.
One idea is a promotional queue bot. One that sells votes at the value they are worth and places the user into a queue to be voted at their appointed time slot. The problem is how such a model like this would compete in terms of ROI.
I think the simple answer is it can't. People will continue to bid. The exploit may not necessarily be with the blockchain but rather human nature. People want upvotes like crack. Game theory is a helluva drug.
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unfortunately upvotes are a commodity. they have the utility of buying time on the trending tab. this is why i am also creating a content filter that can hopefully mitigate the the weaknesses of the current trending/hot/promoted tabs.
in conjunction with a decentralized vote buying service hopefully I can convince devs to work on more productive endeavors.
Yeah, I know that is what they've become.
I've been thinking the old adage is applicable.
Perhaps, I was entetaining the notion of building a fair vote selling queue bot. Another idea I was thinking of was a bot that gives a bonus vote value on posts with decline rewards.
I already have my hands full with other projects atm so maybe one day. I like your idea and looking forward to what you put together.
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In that case u can buy fixed roi votes from smartmarket