RE: Transparency Bot is going online to help fight the rampant rise in bidbots and their long term devastating effect on our platform.

[bycoleman]

Yes, it is going to be a battle and I may need to power up a lot more. Hopefully I will receive some delegations to be able to keep in the fight.

There is so many opinions on these bots, it is really amazing how many think they are good for the platform. Send a link to the concepts you are speaking of and I may be able to include them in an upcoming post.

Blessings!

Comments

[samueldouglas]

Rent-seeking

In economics and in public-choice theory, rent-seeking involves seeking to increase one's share of existing wealth without creating new wealth. wikipedia

@krnel (with a little input from me) has a good discussion of how this might apply to steemit. There's a bit of nuance in how this applies - it's not quite the same as in classic economics (I think), but it is certainly something that is putting the brakes on growth here.

Regulatory capture

Regulatory capture occurs because groups or individuals with a high-stakes interest in the outcome of policy or regulatory decisions can be expected to focus their resources and energies in attempting to gain the policy outcomes they prefer. wikipedia

I have discussed how I think this applies to steemit, but you don't need to use too much imagination to see where I'm going with this if we recognise that the top 20 witnesses are essentially making policy/regulatory decisions.

[bycoleman]

Thank you very much for this. I will review later and then again.