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RE: 6 Years On | Did Banning Bid Bots Help?

in #hive4 months ago

Would you even use them if they were available?

I probably would have used it if it was still around. Bid bots might be a lifesaver for some users when the price of HIVE is still not rising. I might try to make a drawing post per week (which I have abandoned for a long time) because even if I get a few upvotes, I can rely on Bid Bots.

And if I get a big upvote, maybe I can put it aside for power-ups. Unlike now, most of which I can only use for my daily needs (because the payout amount is not yet sufficient).

If we brought back bidding bots, would that be a game-changer for HIVE’s ecosystem, user base, and token price, or would it just stir up more trouble?

Is there a time when users bid more than the upvote they later receive?
If there is, then the vibes will be like memecoins (maybe?). The difference is if memecoins they are racing to get memecoins at the lowest price. Then in Bid Bots, they race to get upvotes for their posts.

The user base may increase, although there is a possibility that it will be flooded with low-value posts.

The price of HIVE depends on each user. Will they hold on to it? Will they sell everything when they reach their target or when the bull run is over? Or do they have their strategy?

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Back then, voting bots were mainly used to people to increase there own rewards but projects used them as well to get many eyes on things. I used to be a member of the silvergoldstacking community and we used to use voting bots to promote raffles and contests we were hosting for STEEM. Mostly they were used for self voting but they were used to promote as well.

There were times when people were paying for then they were getting back. For instant votes services, like send 1 STEEM and get a 10% upvote we could see what a 10% upvote was worth before paying. With bid style platforms, it was a gamble, the more people online the less the return and many times negative. I do remember when post rewards switched from 70/30 to 50/50, alot of voting services want into the red regarding ROI.

My point with the price of HIVE is, that HP would have so many more use cases if it could be monetized. Few people buy HIVE today, all hoping the price will go up, back then, lots of people bought STEEM to use it. Today we can either use our HP to curation to delegate it to some project that uses it for curation and gives you a HE in return.