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RE: Bid Bots: Steem's Achilles Heel? I present A New Way To Solve The Bid Bot Issues And Reinstate 'Proof Of Brain'.

in #steem6 years ago

A bidbot is essentially a business running on the blockchain. Trying to get rid of the business is bad for the blockchain. If you want to see less bidbots then I'd suggest having a buisness that is a more attractive return on investment than the bidbot so investor capital flows out of the thing you perceive and to the positive rather than completely abandoning steem.

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The suggestion framed here is very elegant as it basically says "this is a business we don't need, let's see how we can avoid using its service", rather than "let's burn the which".

No, not all businesses are good for the commons.

To my mind, the original idea of Steem basically offers that more attractive ROI in the sense that a fully functional proof of brain algorithm (unhindered by bid bots) would effectively motivate growth of the platform and increase user retention, leading to a gradual growth in the value of Steem. The original design does grow the platform at a sustained rate (based on what I have seen) and that should increase the value of Steem as investment grows. The issue is that this is a long term process rather than a short term process like bid bots - so to my mind I am advocating long term vision of the kind that Dan had originally - rather than short term exploitation.

Proof of brain is broken by bidbots, thanks.
Very much.