@fraenk thanks for the explanation. I came across something like this today and it seems that many people use this. I think if others at much higher levels are using such services then why should I not use it. But I also see that this can potentially reduce quality and reward those who can spend more.
Should it not actually be banned entirely or at least limit the number of such votes each user can buy in a given timeframe? This number can be limited to a fixed upper ceiling for all accounts irrespective of steempower. What do you think?
Sure, such "safeguards" could be implemented and would help a lot, but here's the catch:
Steem is an open blockchain protocol, it is impossible (well, impractical) to enforce such rules on the blockchain itself. They will have to be implemented by those who run the bots. Only very few operators do so, because of course this would limit their turnover. And that's why projects like @grumpycat try to enforce such rules with "economic" and "social" pressure.
I guess that's how anarcho-capitalism plays out?!
What would happen if people with a lot of SP start flagging them?
That's a GREAT idea. The question who would have the mettle and willingness to forego short term gains to do. Most whales probably rationalize "Well so-and-so is running a vote selling service so why shouldn't I?"
I think in terms of ethics this is utterly fallacious reasoning but I doubt most of them really give enough of a shit. I think there has been a decided correlation between my cynicism and awareness of how prevalent bid bots have become. I think that steem has become a stake-based cash grab rather than a community intent on producing quality or adding value to the blockchain.
Thanks for your input. At the end of the day it's what we make it. Even if the whales cash out and things come crashing down - us little people have to all have to stick with it if we truly believe in the Steemit.com platform.
@mikeycolon - but our belief in the Steemit platform is based on the success the whales have achieved here. If there are such services made available by the very same people and being used by whales and minnows alike, then I think usage of voting services will increase.
For example, why should I not use it at my level given the obvious short term benefits though the long term consequences are not yet clear.
Hmm - true.... 🤔
I am just starting to understand all of this, I guess :) A lot more to learn
it's a deep deep rabbit hole ;)
So in a way, crypto is slowly creeping towards the same vices that it seeks to remove from the economy?
Yes, except maybe not slowly.
I guess pure market rules can't ever keep human greed in check.
Afraid not. As long as an exploit exists, there's gonna shady people to take advantage. It's the nature of man.
People are people.
Such a wide range of human attitudes surely makes it inevitable.
I guess we need to introduce some kind of authority at some point
I don't know exactly how an "authority" would be implemented in a decentralized ecosystem. However, I do think that better self-policing mechanisms would be a step in the right direction. On that note, you may be interested in the following initiative. The idea is to reward users to flag abuse, overvalued post, etc
https://steemit.com/@steemflagrewards