RE: 10 little idiots: trying to answer | if everyone delegates to bidbots?
Actually, I also did this exercise in @abh12345 post, and there actually is a situation where it works, it just needs to be bootstrapped. It goes like this:
- 10 idiots need some liquid cash up front to support the constant feeding of bots and posts.
- They all post and bid once per round.
- At payout they redelegate extra SP and use liquid reward to continue feeding the cycle.
There's some amount of token minimum needed to continually fuel the system. Though actually, they can all even make minimum bids and get a really fat bot upvote. It's really a silly exercise with 10 participants, but it works out.
There's an equilibrium between bot owners and bot voters. If the bid pool does not get filled, the reward is shifted towards bot users rather than delegators.
As I mentioned in my comment though, this scenario leaves no room for community valuation of posts. It's like an honors system to self valuate posts, and we all know how that'll go... If this were to really play out like this, we'd need a mechanism to correct valuations, and that's why these participants might need to save some SP for flagging.
And any newcomer starting with nothing is just screwed in this world. But this picture really just serves to demonstrate the Dynamics between delegators and users. The reality will be more mixed. And then there's the part where community valuation becomes almost impossible. Suffice to say, a bid bot delegation world will be a terrible world for steem.
now, what is the market value of that pool worth?
The all delegators world? Not much at all. But I also don't find it to be so realistic.
It's like we last were speculating, that it might come to needing to flag down overvalued posts. If there's enough of us that do it, I suspect we might be able to change the bid landscape. We definitely need to make bid bots much riskier.
Note that this has a double effect: people wary of bidding on bots means less bidders in the pool and less profits for delegators. Only posts that can withstand the flags would be left and that would be a natural way to arrive at a fair value for posts.
I should have commented on your last trending or trash app. I am a fan of that idea. I know about heimindanger new site and I think that'll do for the time being. But perhaps we can do better and actually have something that lets many users judge the post itself as well and collectively send it down (or up).
Indeed.
I think that one would close some of the gaps to find 'fair market value' yet, I don't think anyone is actually keen to make it happen.
If I had the knowledge to create this I would. Really think that it would take off.