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RE: LET’S ALL FIGHT AGAINST BOT ABUSE!!! | dreamvlog #40 [DTubeDaily]
Bid bots are a problem for the quality of the platform, even though they do bring revenue to the platform at this stage. Many whales would probably powerdown and leave if they couldn't invest in big bots to make profit without adding any value (apart from their SP).
A fast developing problem that is getting worse EVERY DAY on this platform is SPAM. You can look at the comment section of this video to see what I mean. There is at least twice as much spam now as when I joined 3 months ago. Something needs to be done to clamp down hard on that.
Could you explain how they actually bring revenue? I guess this would interest a lot of people out there. As far as I can think about it I can only see it this way:
A bid-bot gets paid by someone using it. He gets SBDs which he can exchange into fiat. The user of bid-bots gets SBDs as a result of upvotes which he can again exchange into fiat. According to simple economics there seems to be an excessive supply. Who should buy all these SBDs??? For me, it sounds like this system only can fail...
If I'm massively wrong please correct me! But this is a topic that I've been talking about with @alakazam as well.
Oh yeah, the system WILL fail eventually that way for sure.
Ok say you're a whale with 1 million SP. You can make money a few ways - you can blog everyday and upvote yourself. You can create content a few ways and people will probably engage with you and upvote you party because you're a whale. Or if you don't feel like creating content (or you don't know how to), then you can just rent out your SP (via delegation programs like minnowsupport), or bid bots where you make money upfront and cash it out.
You are right to say it's ruining the system - for example it messes up the Trending page, and discourages quality content creators.
The only one positive is that it is an incentive for big whales to not power down and leave, since they are making so much money backing these bid bots. Most of the bots are created by whale/orca accounts. If they power down and leave, they price of Steem would probably crash completely because the platform is not mature enough yet.