RE: @ecotrain: Making voting bots great (again!?) with whitelisting and 11% ROI! Plus my opinions on why voting bots are a good thing for Steemit!
I think the concept of whitelisting is a great one for sure!
Very simply stated, it should not be possible to gain more than the inflation rate of Steemit by simple delegation. The reason this is possible is because we have a lot of passive accounts that are very big, e.g. SteemIt, Ned, etc...
That means that the reward pool is much bigger than the inflation rate.
My main problem is that i see huge SP accounts that are taking advantage of that and many of them i would classify as bad players. I delegate all of my SP now to 100% bots to avoid them taking all that extra initial money and because i consider myself a good player in the long term.
I agree 100% that curation doesn't make any sense with the current reward distribution towards curation. A zillion Steemians have proposed to raise that curation % and it would solve so much but it just doesn't happen. I am waiting on the next HF since i joined, it is just ridiculous and i hope the coming competition will wake up the Steem Devs
Good luck with your bot though, it is for sure different and your minnow support is also a fantastic initiative.
thanks for your inputs Bub! i think voting bots deal with the problem of curation rewards .. BEST because i don't think raising the 25% curation reward any more is fair to people who create content!
Opposite, there would be incentive to vote again and good content creators would get more valuable votes again.
Speaking as a good contect creator, who has been a writer for decades and spends a LOT of time on my content, my typical post still makes less than a dollar, and I've been posting daily for over four months.
Cutting our already pitiful rewards is NOT going to promote good content, it will simply inspire more content producers to give up on Steemit, meaning that you'll have nothing to upvote.
Where will your curation rewards come from then?
It makes far more sense to expand the rewards period back to 30 days, rather than the current 7 days. 30 days is still light, especially for evergreen content, but it was far more fair to those providing content, as the platform can't exist without us.
I agree with the 30 days
Rewards for content producers were a lot higher before the bid bots came as curation was the only way to get some return for steemians with loads of steem power. The steemians with no time were following curation trails like @curie whose 1 vote would be +100$ because of that. I was voting away 20$ a day and i spent an hour a day doing so. Now i get 20$ a day and i don't have to spend 1 minute, huuray for the bid bots? Hell no, i truly don't like them but my philosophy is going the easy way as water does. Bid bots away or more curation and we are back giving votes which would all go to you, the content creator. Believe me, you would be better off with one of these ways.
Ah well, it will sort itself out in the end, one way or the other.
There have been a lot of changes just in the short time I've been on the platform, so it will be interesting to see what the "final" version is when they finally roll it out to the masses, and we cease to be in beta.
what you say is absolutely spot on.. VERY few people have enough time to curate.. so we NEED bid bots..
what IF bit bots were all whitelisted and niche.. and delegators sent some SP out to the ones they respect. at.. got back 80% or whatever and EVERYONE is happy! WHen you build in ROI to the bots (like mine which is 11% firm), people will happily bid on them to get upvotes.. and they can STILL get random upvotes as we see now..
you see the numbers surely.. even 1000 whales cannot ever keep up curating 100,000 people.. so we must have delegation, and i believe bit bots to address this issue.. This then is a win-win-win rather than doing things like elevating the curation rewards which i agree with @crescendoofpeace is a terrible idea! It makes way more sense to let curators make way more from taking rewards from bids..
opposite because people will be incentified to vote instead of writing great content..
note that there is way more voting than good posting happening!
go TRY find good posts in the NEW feed!
whereas voters get amazing rewards now if they delegate to decent bots..
manual voting with high VP is a rare thing on steemit because its a full time job