RE: STEEM: Whales Are Losing Their Power....The System Is Not Broken...Report through 5/31/2018
Thank you for the comment @son-of-satire.
To start, you are correct, this graph is on an account basis, not an ownership basis. If you know a way to find out the ownership basis, I would love to find out about that and write about it.
As for the data itself, it is showing exactly what I claim. I looked back as far as, I believe, March 2017 and every time period I looked at said the same thing. Smaller accounts are growing in number, they are getting a larger share of the pie, and are increasing in MVests. That is what the data shows. Who owns the accounts, I cannot say.
The complaints about bidbots is relatively recent...at least to the degree we are experiencing. If I looked at the data 15 months ago, why did it tell the same thing then.
In short, without proof that the only ones profiting are bidbots, it is speculation. Are there bidbots? Without a doubt. Are some larger users on here with multiple accounts? Again, no doubt about it. Are the only accounts growing in size bidbots? That is not for certain. When you look at the number of accounts that become minnows and dolphins over the past 6-9 months, to claim most of them are bidbots is a stretch I think.
Finally, I do not use bidbot but I cannot say that the people who do are wrong. I read an article about one member (wish I could remember who it was) said it was the only way for him to get recognition when he joined since it was nothing but whales and orcas then circle voting. That is his point of view and one that I am neither confirming nor denying as factual.
I can tell you there was a guy who joined around the same time I did, and he starting using bots within a month of coming on here. His account is almost 4 times as big as mine so it is evident he benefited. Did the offset what he paid for the votes? I do not know. From my perspective they do not seem worth it but many swear by them.
By the way, this individual still uses bots for his posts.
I think you are asking yourself the wrong questions. I did not state that no one other than bidbots are making profits. The question isn't about profits, but about the rate of distribution of STEEM across the network.
It should not take a degree in mathematics to understand that before bidbots, the STEEM was getting distributed across the network. After them, it is getting concentrated in the hands of a few users.
Yes, others may be making profits. But, profits do not safeguard this network from would be abusive tyrants unless we are making enough of them that the disparity between wealth starts to balance. But instead, we are all making the worst of us, the ones willing to hijack an entire network for their own selfish reason, the most poweful of us. By accepting bidbots and using them, we are electing and empowering oligarchs who have no regard for the community as a whole. Which is a stupid move for any community.