Obviously, the voting bots are also a risk and how I think this will play out is that either people will start to flag or... The bid windows will get over-bid. Everyone will lose money... It will work it's way out.
One last thought. The owners of the bots, do have something at stake. It is their stake. Those who own the stake can choose to sell it or delegate it.
However, if the site is losing value, their stake will be losing value as well.
My opinion, some communities will care about content. Until then we are in an odd limbo. :)
I'm annoyed, but it will work out.
yes, an 'odd limbo' is one way to put it.
They only need for the game to play out 1 year to double their investment, and as they power down and prices fall, they will still be able to sell for something. the reason this is possible is because there are still people thinking community. If everyone uses the bots, the end is close to immediate.
The trick is to convince enough people not to use the bots to keep the game running longer. That scenario is starting with 700,000 SP and 10 bidders. Not much really.
Look at the trouble one large whale and one TA shiller can do to the platform, look at how hard it is to deal with it. Look how fast he grew with one whale's support. 22,000 SBD a week. If there were 10 whales willing to support 10 people similarly?
They can take the profits out week by week too instead of powering it up and sell it while prices are high...before the collapse.
Hence the original 104 week power down. You want voting power, you need to tie your fate to that of the steem price for two years.
Well, we are supporting China and Sweetsssj friends and family, Racho... (whatever his name is) is using Haejin to extract a lot of money. Transisto is paying the reward pool to his comment section to promote the things he wants.
Dan is powering down and others want to get more EOS as well. So, I do believe we are going to see some sell pressure. However, I can't get too upset over some unknown users getting some rewards out of the bots.
When people decide to reward good content we will get good content. All other factors aside.
lols
Perhaps this is the wise move?
The unknown bidders don't make much.... the bots are a different story.
"Well, we are supporting China and Sweetsssj friends and family"
😂😂😂😂😂😂😂😂🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣😁😁😁😂😂😂😂😂🤣🤣🤣🤣