Hey Guys
How are you doing ! I wish you all a very happy new year.
It is so disappointing when anyone deal with an article for hours and it doesn't influence much and after that you to see individuals posts a pictures make lots of dollars on it. That's why steemians are now interested in buying 'upvotes' and a huge number of bid based voting bots are reporting day by day.
I have tried bid based voting bots in the course of the most recent month. Bid based voting bots are exceptionally valuable for extraordinary cases to advance a post or counter downvotes on a periodic post. Sending Steem Dollars to a voting bot for the most part prompts a noteworthy benefit for both the bot operator and recipient.
Meanwhile, I get to know about the Steem Bot Tracker a project by @yabapmatt where we can see a list of upvoting bots running. Thanks to the post of @jerrybanfield , I truly like the concept, know the status of a bot and then make bid. Initially, It was looking very cool and wise. But every actions have some side-effects.
Credit goes to @jerrybanfield and others, today, almost everybody know about the 'Bot Tracker'. And what is happening now you can see clearly. People are so willing to buy upvotes now, they are loosing their money.
Bid bot like @booster @buildwhale @appreciator @upme @postpromoter @boomerang are flooded with bids, so they could not return the profitable upvote. Even the bid bot created by @jerrybanfield is unable to give users a significant return. What is the reason behind it, let's discuss:-
Popularity of 'Bid Based Bots'
Due to the support of the big fishes of Steemit community and endorsement via posts, almost everybody is familiar with the bots and excited to use it. It increases the number of users which are going to receive the vote share, so profit is decreasing day by day.
Too High Bids
People are bidding with higher amount. You can easily see the bid of even 20 Steem dollars or 50 Steem which is too much when the voting power is lower. So, after curation, you will receive nothing but loss.
Over Smart Bidding
Sometimes over smartness lead to nothing but hell. People keep their eyes on the 'Bot Tracker' stats and try to bid at the last moment. But, the nightmares start here, too much guys are bidding in death hours with huge amount and within seconds the profit turns to loss. So, the motivation behind the Steem Bot Tracker is now turning into a disappointment slowly.
The last minute bidding rush is the responsible for the chaos, and it is only possible with the help of Steem Bot Tracker and that is the sole reason I am saying it the 'Dark Side' and 'Side Effect'.
What we need is a solution to the problem. There should be a limit for these bid bots, they should stop accepting the bids in the case of equilibrium, means after curation if a user is not getting profit, at least not bear the loss.
So, there is a need of regulation, and I'am asking for it !!
Feel free for further discussion in comment section !!
- Graphics are taken from Giphy
I'm sending this post to bot-crushers when I see them. Most people do not understand want they are doing in there.
https://steemit.com/howto/@fitinfun/are-you-a-bid-bot-crusher
You’re absolutely right. People are losing loads of money on these bots an I agree they should stop accepting bids when they simply can ‘ be profitable anymore.
I always thought that the green circles behind the bots name on bottracker meant that if your bid is too low/late to make a profit, they would be refunding it. Was I wrong?
This post received a 1% upvote from @morwhale team thanks to @prvn77! For more information, click here! , TeamMorocco! .
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Sometimes when the next vote is about to happen in lets say 50 minutes and i transfer SBD to it, my name doesn't show up and they add me into the next round. This is not handy, because i need that vote in the early stage of uploading my content. Do you have any idea how that's possible?