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RE: Is Bot Activity Harmful To An Economy Such As Steemit?

in #steemit7 years ago

Be aware of Networks (yes, even using bots as a one's Network) using fraudulent tactics of high-value flagging in combination with powerful self-upvoting in a scheme to confiscate potential rewards in the rewards pool curated by their (and it's Networks') own actions.
Personally I was hoping this was a very human site where the actions of one (be it for or against) would stand on a 1:1 ratio. Yet it clearly is not, it is more of a Financial Oligarchy. And those who are clever enough to see it, have the finances to back it and the technical know-how to achieve it, are the ones most definitely taking advantage of it while they can (PARTICULARLY with the use of bots).
I strongly encourage any newcomer, or those thinking to invest, to not only read the "White Papers" yet also to consider reading ⚠ ☢ ☣ ☠ Steemit Safety Meeting: Objective Two; "Abuse", The Current Drop of Cryptocurrencies Value, and the Burning Question If One Should Invest? ☠ ☣ ☢ ⚠ before continuing on this website OR investing one penny into it....

Quality of Content < Strength of One's Own Network

It did not take me long to realise bots and abuse here are out of control.
Quality of Content doesn't even really matter any more. Someone can post the absolute spam of all spam, and if they have a sufficient Network in place (of either loyal & malicious humans, bots, or both) designed to flag content outside it's own Network while upvoting only the Network Master's posts (while the Master only uses high-value self-upvotes on itself), said spam becomes extremely profitable to the one running such a Network (and the rewards pool is drained, an effective confiscation of funds for the benefit of the already "wealthy" while a detriment to the struggling "poor")....

It's not difficult to connect the dots to financial fraud when one realizes the main purpose behind these types of malicious Networks' posts is to get newcomers to invest real fiat currency into their (our) system. And auto-flag and auto-upvote bots are the key core to such a malicious system, of thee most importance to the Master of such a Network.

"Through the addition of negative-voting it is possible for many smaller stakeholders to nullify the voting power of collusive groups or defecting large stakeholders." ~ Page 17 of the "White Papers".

Think about this for a minute before continuing to read: A bot can be set up to flag (or upvote) automatically without even knowing/understanding the quality of the content it's giving value to or taking away from. A bot can be financed to have much power, power used to blindly cast "judgement" on the creations of others; a power - used towards Red Fish and Minnows - that can make an account or break an account.

Negative-voting.... thee 'ol double-edged sword... the same power that gives a thousand Red Fish the ability to "nullify the voting power of collusive groups or defecting large stakeholders" is the same power that gives collusive groups or defecting large stakeholders the ability to nullify the voting power of thousands of Red Fish.

In other words, it takes the efforts of thousands of little accounts to nullify the voting abuse of one large account while it only takes the actions of one large account to nullify the stabilizing efforts of thousands of little accounts....
AND YES, EVEN IF IT IS A BOT ACCOUNT; IF IT IS FINANCED WELL ENOUGH, ONE ACCOUNT CAN EFFECTIVELY "DESTROY" A THOUSAND RED FISH ACCOUNTS FOR NO OTHER REASON THAN THE WILL OF IT'S MASTER.

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