RE: TransparencyBot - Daily Report Card as of Yesterday 4/21/18
You know, I've been crawling around some of these links, and I have a feeling that people aren't realizing that they are losing money and are using bid bots because "that's the way to use steemit". I think some education could go a long way. Others use it fully aware that they are losing money to get exposure. The fact that you have these two groups mixed means a significant portion of people are basically bleeding money when in their minds they think they are earning.
I have to crawl more to be sure of my assessment, but if this is the case, that might be another angle to approach this-- informing those that think they are earning that they are not actually earning.
If people realize this, it may reduce demand for bid bots and really only make them for promotion. On the other hand, it simultaneously makes the bid bots more profitable for those that use it that way, so it's kind of a hilarious trade off....
(Doing the actual computation requires pulling a lot more information about the posts in terms of timing of the bot vote and etc, does your bot do that already?)
You are correct, most people are loosing money using bots. If the article does not get propelled to the trending list, they are almost guaranteed a loss.
As far at the curation goes, I am working on the final formula to take the square root of each vote in sequence to get the true curation reward, but it will not differ much from the estimate that is being posted now. This is due to the fact that the bots bids are so much larger than all other bidders that it warps the formula to itself. IOW, it gets the around 25% of the curation reward, regardless if it the last or first voter after the 30 minute window.
People flock to these big payout posts that have used bidbots, trying to get some curation rewards, but infact, they get almost nothing, the bots get it all!
Oh I don't mean that part, I mean solely the timing of the vote in the first 30 minutes. When I used bid bots I was certainly timing my bot votes to less than 3 minutes. Bot owners have started to crack down on this though.
It's funny actually... The adjustments that are being made actually give a lot more money to the bot against the bidder. They argue that it should solely be used for promotion and not returns, which is actually a fair point, but damnit, bots should not be getting this much money for milking the promotion angle. I really hope the next hard fork addresses it. If native promotion worked, bid bots would disappear overnight!
Ah, I understand now.
You are so correct. If there was a decent native promotion or better filtering of articles, bots would be out of business!
this is truth, people have no idea that they are losing money on bots but aren't spending enough to reach hot or trending and are not getting followers from it