but keep in mind the bid bots have people holding millions of steem. As you're cheering for their death it may lead to the exodus of people holding millions of Steem and drive down the price.
I don't think it is a fair assumption to say that most/much/any of that stake will be dumped should bidbots vanish overnight. Many of the delegators held that Steem Power long before bidbots existed. So clearly they saw some point in Steem before it. Furthermore, many of the bots promote themselves as providing people with a "return on investment" for buying STEEM and delegating to their bot. It should be fairly obvious why that is a false promise, but let's say they're right. Then it will mean that a person who buys 1million to get this ROI will by definition dump for more than they've bought for, as they'll continue to dump 10,000 per month. This while contributing nothing of value and extracting rewards that instead could have gone to real users and thus improved the distribution of the token, or incentivsed growth. When satisfied, they'll still dump that 1million STEEM. So even if I were to grant you your concern, I would still prefer that person to just dump their 1 million STEEM today and be gone, rather than milking it until they've had their return on investment and then take profit, as it will just mean even more STEEM sold for nothing in return.
The solution is clearly to provide more attractive reasons to own and delegate Steem Power. And with the change to curation, it is very much possible to receive better STEEM-based earnings through good curation. So let's build good curation projects with a high percentage return on the delegation that also curates according to a Steem growth strategy. This way, investors can get their returns, contribute to increase the value of STEEM, and hopefully, also feel that they contribute to the growth of something worth building.
After all:
ROI = earned STEEM * price +/- change in the value of existing STEEM holding.
And
Value of curation = Curation rewards + external effect positive/negative on Steem + individual utility.
Perhaps its time to remind people of the importance of the price component to the first formula and the added value that smary curation can have to improve price on the second?
Anyways, there are for sure better things to flag these days than literally all bidbot posts. But seeing evolution and change in how we use our stake to provide something that the community at large think of as valuable should be the ultimate goal. And bidbots in their present state scores very low here.
So in summary
- I don't think your assumption that bidbots going away results in people dumping STEEM holds and is thus not a relevant concern.
- Even if it did, I would not mind seeing those investors who see that as their only reason to be here dump at an ATL.
- No matter what it turns out to be, the solution is still to create more attractive usecases for Steem Power. Investors who just looks to profit will then choose better alternatives.
It is a fair assumption... The Steem price is close to a point of never return and there is real competition on the ETH and EOS Networks... Kill the Bots or enough big Stakeholders and Steem as business fails.
How do I come to this:
-> Steem needes Servers
-> Servers need Admins and Electricity
-> The costs for both aren't sufficient already
-> if those people change to other Networks NOW they will start making money instead of burning money - and that by tomorrow
-> So why do they stay? And why are you wrong?
Answer yourself, I'm curious to read it!
No, there is no evidence to suggest that many of the Stakeholders who delegates to bidbots would choose to dump STEEM at an ATL in BTC terms should the bidbots stop. They held STEEM for months/years prior to bidbots becoming popular at a much higher price (especially against BRC). So it is not a fair assumption at all.
Most who holds STEEM believe that there's still a chance (though perhaps just a small one) that it will become an attractive platform to build social apps. Then STEEM as a native currency across the many web apps and pages will be sought after both by people looking to participate and thus needing Steem Power, as well as people looking to buy and sell services on Steem with STEEM/SBD.
None of the other points here are relevant as far as I can tell.
You just don't get it
Yes I do.
mhm
We run a top witness ourselves and would continue doing so at a lower STEEM price.
All of what you say is true thst it takes money to do this. But none of that has anything to do with bidbots, or whether or not stakeholders who delegates to them would dump their STEEM if the bidbots were gone.
You assume ppl are independent and strong :))
That would be fantastic...
ahh you're from Norway.. so beautiful
If enough of the remaining Witnesses decides tomorrow, that they don't pay 200$ a moth and dozens of hours valid work time for maintaining a Server, what will happen? GG - Quit. With Steem at 0.15$, they can't pay the server costs and with Steem dropping, even more, they will just stop.
It is one thing to belive in Steem and Post/Create here and another to pay ~2.500,00€ Server costs a year. And we need those servers to run the Chain, because it is a DApp you know :D
Your profile tells me:
Economist and Entrepreneur with background in the space sector. @steempress co-founder and witness
So enlight me, what do I get wrong? It seems you should be right, because you're more experienced. But I must warn you, I did build up a few companies, too. Even if it is only as a consultant, I know how to roll.