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RE: Bid bots are being used not enough = maximum profit
Some bots have a max ROI cap btw, so it won't use the full 100% if the round is not full. If you know where to bid, you can benefit assuming prices stay constant.
I also prefer that bid bots didn't exist. That's money allocated to things that don't provide value to the platform. But hey, whatever. It can afford to right now because dumb money is propping it all up. We have things happening that do provide value though, and that's what I'm clinging to. Non-bid-bot behavior props up bid-bot behavior. If bid-botting was the only thing remaining, you can be sure the platform will die. (Well, bid bots do promotion too, but I'm hoping we can replace that aspect with something better.)
What do you think does provide value?
Well personally I think people interacting is value enough. Monetizing good content is kind of blended inside but it's more for getting people engaged. The same kind of things that give other social media value, really. Who knows though.
There's also some vague notion that adoption by spreading the currency to as many distinct people as possible will provide value. Though more likely it's about getting merchants to accept the currency more than anything else.
I'm afraid I don't fully understand you.
You and me interacting now is valuable, but not in financial terms.
Other social media don't pay us. Although they could, from the advertising income they receive. But Steemit does not generate any income.
If spreading Steem to as many people as possible provides financial value, then I would say this is a pyramid game. That ends as soon as no new people buy it.
Not directly but engagement sells. Advertisers pay to reach people. For that to be valuable here you need enough users to reach and a mechanism by which you can reach them. That's what the promotion angle is about.
I was mentioning the crypto currency angle as another possibility which is what most crypto is aiming for. Hard to quantify value of Bitcoin in this vein, isn't it?
Correct, neither do I see any economic value in Bitcoin at this moment.
Having that said, I really hope that I'm wrong or that it will become financially valuable in the future. Cause I do like crypto and the online did going on now.
I hope so too :). For now, I guess enjoy the current value assigned haha...