Oh, you are talking about bidbots.. yeah, the system isn't designed for them. If you haven't worked it out yet, the bidbots never lose. You obviously haven't been reading my posts about bidbots the last 9 months but, I don't use them. The ones that exist now are harmful to the system in my opinion.
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Yeah, I expected them to get a cut of the profits, but not to make the high bidders lose? And yes, I am currently trying to understand how bid bots makes anyone money except the bidbot owners, and I am trying also to visualize why H spends all his money on them, what is he gaining?
... but it isnt just the bots, the payouts should never be at 100 percent steem payout or else you are just throwing away money. under 100 percent steem payout, you lose the half that would have gotten paid out as SBD - which currently is worth 3.5 times the amount that the half paid in steem power is. What is the point in that? They should put a caveat next to it and suggest to the user that selecting this option is willingly burning up your profits.
only because SBD has broken the peg. It is meant to be at 1 USD and is stil calculated by the system at 1 USD. Steem is calculated at market value on a 3.5 day floating average. Good times to buy steem used to be anytime SBD was over 1. and sometime 1.2 was amazing! people seem to not understand what is going on now and think this is normal so instead of using the SBD to buy Steem, they cash it all out and take short gains. To each their own.
Yes, is a broken peg not fixable? Lol i dont know what a brokn peg is, but whatever it is, its effed up. Imo.
Okay thanks for your replies. That helps a bit.
some want to fix it, some don't. The system is currenty broken because of it though and the bidbots are making extreme value as people pay in sbd.
some might call that a scam. just sayin'.
which brings me back to the topic of your post, what incentives do they have to change it? you know what they say, "... power tends to corrupt, and absolute power tends to corrupt absolutely." The witness setup as is does in a sense tend to centralize the power structure, rather than decentralize. I have a feeling this issue isnt going to get fixed for a long while, unless more people understand what is going on.
I don't understand much, but what I do understand is how the payouts are working against me, especially when I put my own money into it. this does not encourage one to invest in steem, on the steemit platform, anyways. Maybe on an exchange somewhere, but not the platform itself. It also has a scammy feel to it, wrapped up in a casino package, with the illusions of possible gains. I would not go so far as to say a pyramid scheme, yet, but the bid bots and the payout associated with them are concerning.
The way I tend to learn is through trial and error, and by playing around with the numbers. So, that's kind of why I was asking, who has the ability or responsibility to fix this, why aren't more people demanding it is fixed, and why should we have to demand it is fixed if it is broken? That's very odd. Not very ethical.
Bidbots a scam? Noooooo.... how can you suggest such a thing...
Are you buying money on exchanges and using your vote or are you buying votes? If you are buying votes, that is not the same thing as you are purposefully buying into something that is going to work against you and the platform. The current bidbots are not made to support you, they are made to support them. They don't care if you win or lose as long as you pay and they don't care if you leave the platform in tears either. No company cares for you.
The scammy feel it has is because the way people use the system, not the system itself.
If you are buying votes from these scams, you are part of the problem, aren't you? but then, this is the thing, even though Bitconnect was an obvious pyramid scheme, people still wanted the profits.
It is easy to fix. Everyone stop using the bots. Not going to happen though is it? profits first for big and small.
Yes, this is why I am trying to figure out why Haejin or whoever is using them. What I am saying is there are NO winners at all whatsoever. Even when you win, you end up losing. Not hypothetically, actually losing money. Thats a scam, WORSE than bit connect.
The problem is also that steemit is so confusing to an average person who doesnt have tech backgrounds, and it is overwhelming, the mass amounts of information- unbelievably complicated that no one without a massive amount of time and patience would try to figure out, and it seems to me the people who do understand it are either cryptic about it or complain for other reasons.- and treat new comers like crap because they don't understand the drama of it or what it was like before.
It will change, if enough people are made aware of it. From what I see, newbies come in and are expected to just understand what in the hell is going on. What if they instead came in and understood right away?
If I really wanted to be conspiratorial, Id say Haejin is a plant to make newbies think you can actually come out ahead, when in reality, you can't. fake drama. But Idk, Im determined to figure it out. lol
as for your previous bot posts, Im very new, only been here since march. :)