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RE: Retiring From dMania (Why I Undelegated Power And Will Move My Elite Meme Game Else Where!)
The reason I got interested in Steem in the first place was because it would reward real contributors and not scammers and spammers. I think that was the theory behind it but the total opposite is happening.
I'm sure bots provide some good features but most cases its just people paying bots to make money for themselves.
As you said in one of your recent vlogs the biggest threat to Steem is greed. There is huge potential in Steemit but I fear it is never going to reach this potential for this reason.
I totally agree. I see some accounts posting several times an hour, it's all bot auto generated stuff. There's no work behind the content, no person behind the content, its not origional content yet these accounts are making more and are further along than people who are putting in genuine effort.
I think upvote bots are fine, I personally hate comment or content generating bots, I think they are a cancer to Steemit
The automatic comments from the spam farmers is annoying for sure. When the price of STEEM goes up those things get worse. We don't even have to check Coinmarketcap. we just know from the spam. LOL
I forget where but I saw an old listing of someoen who was selling 100 Steemit accounts with an auto vote, comment and content creating bot. Steem was down at the time and the guy was selling everything for $1200. I think each account had at least 25 steem as well. Whoever bought that is clogging Steemit up with trash but also making a pretty penny doing it.
It is tough to really know the conversion on a bunch of this stuff. I'm not talking trash about the strategy but for instance @stackin uses the method of buying a lot of upvotes with SBD to get the post to the "HOT" page potentially and gain more followers and hopefully more upvotes....etc. He is also really good at engagement. The issue I see with using the SBD to do that is the math becomes really difficult to figure out if he would have just been better off converting the SBD to STEEM and powering up. He might be way ahead by using that strategy. It is really tough to say honestly.
I have mainly used the SBD to diversify into other crypto but after a reach a certain threshold with my NuBits I'm going to average down on a few coins with my SBD and then start converting all SBD to STEEM and powering them up for the time being.
These strategies are hard to really know what is the right thing to do and only time will tell. Having NuBits has been brutal on the up days because I feel like I'm missing gains but some of the coins I sold out of are below what I sold them for. I would have been better off going into Bitcoin or Litecoin but we all know how the floor can drop out from under us and that was the main thing I was trying to avoid by having the NuBits. So I have been better off with NuBits right now than I would have been HODLing the altcoins I sold but worse off than if I would have just bought, Litecoin, Bitcoin, or Monero with them.
I've seen you talking about Nubits a bit lately or in the previous weeks. Are you trying to profit by like 10% at a time by making small hits going from Nubits to another crypto or are you investing for the longterm or just have some money you don't know what to do with and don't want to go to fiat?
I bought some Nubits when they were low and made like 1000 satoshis on a quick flip. Oh shit as I'm typing this I'm noticing the days range is 0.86 cents to 0.98 cents. I've never paid that much attention to Nubits before, are those kind of swings uncommon? I was under the impression it was supposed to track the dollar? I bought at like 0.92 cents a few weeks back basically knowing or at least thinking I knew it would be back at a buck soon and Id make a quick 8%
My plan with NuBits was to just let the floor fall out below me on a lot of these coins. I have less than 10% of my holding in NuBits but I think there is a chance we go lower than the $5,900 BTC price we saw. My plan is if it gets bad I mainly HODL but then end up with more coins when everything is tanking. Instead of taking that money to fiat.
0.86? I'm seeing it got to $0.96 today. Usually I will see it at $0.98 to $1.02. pretty stable.
If you bought at $0.92 that is a pretty sweet deal especially if you bought it with crypto that was allocated to coins that haven't been keeping up lately.
A lot of these alts are sagging lately.
Hmmm, I have the inside numbers lol
I look at the upvote bots mainly like someone paying for YouTube pre video ad rolls. It can be used more as a promotional thing
There is certainly abuse going on and everyones veiw of abuse is different. Also the people who came as content creators are in a different mindset than the people who brought in a bunch of money and have to make that investment back.
If it was purely a promotional thing I would be ok with. For instance pay 5 SBD to promote your post and then you get a wider reach. What I don't like is that paying that 5 SBD can add more than $5.00 to your payout. It just makes no sense, it should be people that reward authors, not bots.