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RE: A comparative analysis of "sell your vote" & "delegate to bot"
The numbers and formulas you are describing make sense but I think that using bots to upvote content is basically a black hat technique that in the long run will fail or be frowned upon, as it's not providing real value to the community.
Just ran across this post and wanted to link it as it's very relevant:
https://steemit.com/minnowbooster/@minnowbooster/minnowbooster-abuse-cases-defined