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RE: Is all this Bot Delegation a Selfish Act?
Many have chosen for the largest ROI with the least effort, without giving too much thought to the longer-term effects on Steem and Steemit.
We don't have the exact numbers, but we guestimate about 7000000SP has been delegated to bidbots, and is not being used for proper curation.
It goes against the concepts of stake, accountability, content-based curation, and active social participation Steemit was supposed to be about.
So yes, it is selfish, but it is also caused by the perverse incentives built into the current system, and many will say it is all working as intended.
It does, and I'm not totally against it, but there is a line to be drawn against 'reasonable' and extreme.
I have SBI shares that give me a daily vote, I'm a member of @qurator too, both of which I have had to pay for, but neither use any delegation. I do vote @qurator everyday to boost my vote but it doesnt use a lot of my SP.
@qurator has a delegation system, as well as this 'other' one I'm referring too, and thats fine.. but 98% delegated? You see my point?
Yes.
It is quite ridiculous and selfish, but bidbots and delegations opened up this opportunity, and such opportunities will be used to the max by opportunists who don't care much; it is unavoidable.
As much as these people suck, as some say, there appears to be nothing fundamental we can do about it apart from forking delegations out again. Saying they suck does not help at all; they will still be laughing all the way to the bank.
Hopefully all they will get is their delegated votes and nothing else. Its still crap but we cant do anything about it, as you say.