I’m not sure why we should intervene in the market. I personally don’t use any bots, but it seems like a simple matter of demand. There just isn’t enough SPS to go around. A few months back, there were bids at 0.002, not because of bots, but because demand was high enough to support it. If providers don’t have SPS to rent out, the rental price will naturally rise on its own. I think the team’s time would be better spent on other things, as this issue will likely balance itself out. Am I missing something here?
I don't think you are missing anything. I have the exact same thoughts. If we don't see a spike in the demand for SPS in the next 6-8 months that would just mean that we failed to bring new people in.
we already intervene in the market because the market can't see who wants to rent out their at .002.
The only people shown are the people that can't get filled, so I'm for improving the ability for the market to find a good equilibrium, but since that will take dev time and agreement to provide a 2 sided market, then this is the next best thing.
Yes, I agree with you.
Let the market adjust the price when there are enough demands.
Raising the minimum prices will reduce the number of active players
I think that's fair. As someone that doesn't do rentals (or particularly care for them at all honestly), my understanding of the situation is that the automated services essentially snipe anything above a 0.001 bid and that leads to an illiquid market where people are waiting and praying someone will fill a 0.001 bid (like all the others that are sitting there) and don't understand why it's not happening. The people not using automated services feel like there's no way to compete with them and either have to choose to rent out at 0.001 or not at all. You'd probably get a more nuanced discussion on this topic from people actively involved in the SPS rental market.
I've been insta-renting 150,000 at 0.002 for months. If people want to get SPS fast then they should pay more. All those sitting there waiting their bids to get filled at 0.001 for days/weeks/months obviously don't really need the SPS that much.. :)
you're looking at it only from the renter standpoint.
There's a cost to people using automation and getting a 2x return over those that don't. That cost could be argued to be very big if it results in people not wanting to own the underlying assets.
I know I really hate that I either have to use automation or accept 50% less in return. Honestly even I consider whether its worth even owning the SPS with that kind of disadvantage accruing to those using the botted methods. In the long run I'm very aware of the impact this will have, so its a negative thought that I think is silly that we even let be an issue when there are far better ways to accomplish fairness, transparency, liquidity, and a good user experience.
Oh, I don't care either way. As I said, I'm already renting it at 0.002 (btw last couple of weeks it's been insta-filled by Vugtis so I guess he's found a way to automate the process, which is understandable with the amount of SPS he has). I actually gain just 1X when renting over the multiplier I get by holding 360K SPS, so if the floor is set at more than 0.002 I'll just stop renting. :)
I’m not sure why we should intervene in the market. I personally don’t use any bots, but it seems like a simple matter of demand. There just isn’t enough SPS to go around. A few months back, there were bids at 0.002, not because of bots, but because demand was high enough to support it. If providers don’t have SPS to rent out, the rental price will naturally rise on its own. I think the team’s time would be better spent on other things, as this issue will likely balance itself out. Am I missing something here?
I don't think you are missing anything. I have the exact same thoughts. If we don't see a spike in the demand for SPS in the next 6-8 months that would just mean that we failed to bring new people in.
we already intervene in the market because the market can't see who wants to rent out their at .002.
The only people shown are the people that can't get filled, so I'm for improving the ability for the market to find a good equilibrium, but since that will take dev time and agreement to provide a 2 sided market, then this is the next best thing.
Yes, I agree with you.
Let the market adjust the price when there are enough demands.
Raising the minimum prices will reduce the number of active players
I think that's fair. As someone that doesn't do rentals (or particularly care for them at all honestly), my understanding of the situation is that the automated services essentially snipe anything above a 0.001 bid and that leads to an illiquid market where people are waiting and praying someone will fill a 0.001 bid (like all the others that are sitting there) and don't understand why it's not happening. The people not using automated services feel like there's no way to compete with them and either have to choose to rent out at 0.001 or not at all. You'd probably get a more nuanced discussion on this topic from people actively involved in the SPS rental market.
I've been insta-renting 150,000 at 0.002 for months. If people want to get SPS fast then they should pay more. All those sitting there waiting their bids to get filled at 0.001 for days/weeks/months obviously don't really need the SPS that much.. :)
you're looking at it only from the renter standpoint.
There's a cost to people using automation and getting a 2x return over those that don't. That cost could be argued to be very big if it results in people not wanting to own the underlying assets.
I know I really hate that I either have to use automation or accept 50% less in return. Honestly even I consider whether its worth even owning the SPS with that kind of disadvantage accruing to those using the botted methods. In the long run I'm very aware of the impact this will have, so its a negative thought that I think is silly that we even let be an issue when there are far better ways to accomplish fairness, transparency, liquidity, and a good user experience.
Oh, I don't care either way. As I said, I'm already renting it at 0.002 (btw last couple of weeks it's been insta-filled by Vugtis so I guess he's found a way to automate the process, which is understandable with the amount of SPS he has). I actually gain just 1X when renting over the multiplier I get by holding 360K SPS, so if the floor is set at more than 0.002 I'll just stop renting. :)
yes I understand that. And I'm not blaming anyone either btw, everyone is doing the best they can with the rules as they are.