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RE: Buying votes on Steemit: is it all bad?
"But vote bots do seem to create value for Steem in some way. Since it creates more reasons to both hold Steempower AND Steem."
I would argue is that these vote bots, which many Steemians have rabidly attacked for various reasons, are the only reasons why Steem is not trading at 5 cents today.
A lot of people seem to believe that "quality content" somehow translates to higher Steem price, and/or more liquidity on the order books, but there is no empirical evidence to back that up.
For investors, locking up Steem and investing in voting bots, which yield 15-25% ROI per year makes a lot of financial sense.
The ethical bots like Smartsteem are an even better deal as they filter out the trash content, and allow the content creators to gain exposure and build an audience at a much quicker pace.
Sure, we have A LOT of cargo-cults in crypto world.
could please someone explain to me the economical benefit of a voting bot?
Voting bot and ROI for passive investors? In this respect it is just a ponzi sceme...
Voting bots are posting and upvoting useless things and steemit creates steem out of thin air and pays people with those... there is no economic sense behind all of this...
I have said that before, Smartsteem is my personal favourite simply because of the concept and how well made it is. I completely agree if your argument. Steem as a currency goes way beyond Steemit as a platform.