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RE: Understanding Steem's Economic Flaw, Its Effects on the Network, and How to Fix It.
Hi @kevinwong
I am afraid that by rewarding curation at a higher value, will just lead to a different bad behavior, people will just vote for the same posts that traditionally get high payouts, to try and maximize their curation rewards, good content will still not be discovered. Further to this, people will also receive curation rewards for self voting, and if they buy bits from bidbots, their self vote curation will even be more profitable. Why can bidbots not be banned?? Bidbots, make a joke out of the reputation system!!
Hi, thanks for your input @rynow.
Bidbots are a result of a pure linear rewards system. It's easy to price votes and sell it out or exchange, hence providing an outlet for maximum profit with least effort. Yes you may be right that curation alone won't help. The proposal cannot be taken apart and have each elements considered isolation. With the three suggestions together, the aim is to just make it more likely that voters use their SP on curation rather than reserving it for themselves like we've in the current economy. It's easier to stomp out bad curation too under the proposed changes.
I really hope it will work, and that we will see the end of bidbots.