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RE: Not Totally convinced that Upvote Bidding BOTs rape the Reward Pool

in #upvote7 years ago

Reward pool rape is only if the post being upvoted is spam and shouldn't even be on the platform in the first place.

The large issue with bid bots is that they serve as a mechanism to concentrate wealth here on Steemit without doing much work. It is essentially like a large account being able to give itself a constant 75% selfvote. The end result is that these large accounts are getting unproportionally larger then the rest of the accounts creating a unbalanced economy which de-incentivizes buisnesses from actually adopting STEEM since less people actually have significant amounts of steem to spend.

This is why I think that all bidbots should be non-profit. Redistributing the rewards back to the community in the form of contests after they build themselves up with their own steem power rather then constantly leasing steem power.