Buying upvotes is the secret sauce to the steem economy

2년 전

If you've been on steem long enough -not that we've been here all that long to begin with- then you would have notice that there has always been a heated discussion about vote buying and whether it's good or bad for the steem economy. But one thing people often overlook, is how essential it has become to proving steem's functional. And as they always said, the proof is in the pudding. If you read through below, I hint at some other topics that may or may not interest you. If you want to hear more, comment below and it'll be one of my next posts.

when given a chance, there will always be someone to take it

Earlier this year, Steem was over $10 and the rewards pool grew along in value. The number of vote buying services exploded as the demand for vote buying increased. Why? Profit of course! Why post good content if you can post terrible content and make the same amount of money?

I'd be a hypocrite if I said I didn't do it myself, as a matter of fact, this post was bumped in value by buying an upvote. But vote buying has its limitations as the blockchain grows. If you want me to talk about this, then post down below because I've got a lot to say about the future of steem, I just don't know if anyone is interested and if I should put it on paper.

why vote buying is popular

It's a no brainer, steem is one of the few cryptocurrencies that allow you to earn it by posting content. The problem is that the overwhelming amount of users here have almost nothing to offer in terms of good content (and yes I'm fully aware that "good content" is subjective!) and I blame that on a combination of not knowing your audience and poor writing skills.

What you end up with is this environment which models anarchy at its deepest levels. People end up doing everything that is possible to make a buck. Hence the poor content by people who buy upvotes and call it "investing in myself", or the "I'm doing this because I deserve the money".

Let's just be honest. At the time being, if you have money, you can make a shit ton of it on Steem. It's no hidden secret, and it isn't even a dirty little secret. IT'S THE SLOGAN OF THE WEBSITE.

That's why buying an upvote is popular. ITS FREE MONEY.

yet, vote buying creates an economy!

An economy is one that is driven by playing the game of filling the demands with a supply of something. Currency is the language of the economy. On the steemit economy, the language is STEEM and the game is upvotes. Theres a huge demand for it, and there simply isn't enough supply.

The good thing is that the money of the internet is treated in our human minds, the same way the money of reality shifts. The faster it exchanges hands, the BETTER it is for the economy. People aren't using steem or sbd to hold as investments like gold and bullion. The second SBD touches your hands, you think of only TWO Things.

"How can I use it to make more"
"How do I earn more of it?"

When users think this way, then got yourself one golden economy.

Simply put, the more users there are, the more demand vote buying will be, but since SP will begin to dry up without outside investments, the two may very well be the catalyst that turns STEEM into a flame thrower driving its value into the top 5 cryptos of all time. You can quote me on that.

But where does the money go?

When vote buying started, it was a simple person to person transaction.

Shortly thereafter, automated scripts appeared and the first user created bot hit the scene. Overtime, this collection grew and services such as minnowbooster, buildawhale and many other highly funded bots came into existence, many of them have survived because of SP delegations provided by whales and users looking for a chunk of the upvote pie.

Right now, the BIGGEST winner will simply be the upvote services that returns the MOST to their investors. Its an automated version of what steem was originally intended to do! It just manifest itself into a way that aligns MOST with human interests. If you want me to elaborate on this, then comment below and I'll go more in depth with this concept!

That's where smartsteem got it right @therealwolf along with others had the brilliant idea to give the most back to the users, and he has been rewarded handsomely in how he executed it through smartsteem as opposed to his competitors.

what would steem look like without vote buying?

If vote buying wasn't a thing, we would see a sizeable reduction in the number of "transactions" on steem right now. People would be less interested in posting to earn money because of the difficulty in gaining traction and the even bigger circle jerk among whales there would be. Think about it, if there were no other option for whales to sell their votes, why would they ever comment on anything unless it interested them?

In fact, whales would have ZERO reason to bring outside money into steem because there would be no minnows to feed of buying their upvotes.

what's the next demand for steem and sbd?

The short answer is that we really don't know. But the long answer is far more complex. With smt's being released hopefully this year, and communities feature launching (also hopefully this year), we'll likely find that the steem blockchain will replace ethereum as the defacto base coin to which all other coins will be created off of. When that happens, all I can say is that we are going to be in for a wild ride.

PHOTO OF THE DAY!

Some of you guys know of the project where this photo was taken. Its a balcony repair project that I've posted photos up of before. In this particular photo, I just came down from another rig and walking by another rig on its way up. These are L shaped, 3 motor rigs which are notoriously floppy in the wind. Yes, this is my job, and sometimes it isn't cool, especially when its freezing and windy outside!

Looking up.jpg

the above photo is the same one shown here:

CONTEST: to the first person who does the following:

find where this photo came from and post the link, along with a photo of themselves with their username WRITTEN on a piece of paper with today's date and time gets an upvote from me. If I like what you are doing with your page, it will be a 100%. If I don't it'll be 25%

Authors get paid when people like you upvote their post.
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i'm not against the bid-bots, i'm against the people who use it badly.

if a post is worthy i don't care if people used bid bots to boost it, if it's garbage then it should be flagged

but at the end of the day you are only buying "visibility" because you lost a 15% of your bid, bots never returns you the 100% of you bid.

for the contest:

https://steemit.com/steemit/@motoengineer/last-nights-cryptocrash-and-some-thoughts

20180419_111241.jpg

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You got a 100% vote my friend! I love the wall mural! its inspirational to a T shirt design I've been thinking of! Resteemed as well!

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Thanks very much my friend !! i did not expect the resteem, it is much appreciated <3 !!
You have my permission to use the design for a t-shirt, I would LOVE to see that t-shirt being used!!

Well done, thank you for your analysis
Great post from you
Thanks for sharing

I hate the bots but we are all stuck using them for now unfortunately.

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i think you missed the point, the bots are why steem works.

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I would disagree. You your self said they came about in mass when steem peaked. They came about from greed and are now accepted as normal.

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Bots coming from greed and being accepted as normal is independent from the argument that bots are why steem works. They have nothing to do with each other.

I hope your upvote of the winner is 25% since that would essentially mean that you didnt like their post hahaha... I want to know more about your hints but we can off the blockchain discuss those too

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LOL, hey the reward is for their effort. But that would mean I hate their posts.

The problem isnt the bots themselves its people and their greed - posting shitty content and just buying upvotes. Because of the decentralised nature of steem its hard to manage and make any rules around the bots. Some of the bot owners check content for quality but most to not.

My suggestion for steem was to create an 'organic' trending page that took account for bit votes and would give minnows more visibility:

https://steemit.com/steemit/@conradt/make-the-trending-page-great-again-organic-trending

Thoughts?

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I understand why you feel this way. But this is not a blockchain level issue. Its a front end issue. Additionally, the goal of the communities feature will attempt to solve this in a better way. I think the front end experience is secondary to making sure the blockchain is scalable, which is why we havent seen communities feature launch yet. There are a lot of moving parts and steem is a very complex system.

So I think you have the right idea, but there is a better way to implement it.

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Cool thanks for clearing it up for me :) Yeah Steem it a complex machine and everything has consequences and is probably hard to implement.

Yeah it was just an idea as Im not an expert on Steem or programming etc

I have used upvote services when I think the post is worth more because of the time I put into it. If I didn't upvote those certain posts I would make nothing for my effort. And I mean nothing. Posts fall into the taglines and then are lost in mere seconds. There are so many shit posters here flooding the platform that you really have to dig to find any content with value or interest. It is discouraging when you see a meme or single photograph with no relevant content attached and it makes 10 or 20 or 50 times what your post that you worked hard on makes. The only way to get your work seen by a greater audience is to try to push it to the trending page with an upvote service or pray and hope for the best. FYI - The prayers don't work. I've tried.
I would like to see more on this topic and other topics that affect content creation and the worth of individuals on the platform. Thanks for an interesting article and I hope to see more in the future.

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The value of effort is subjective. You may think you deserve xyz for your content, but if no one views it, its worth how much? The answer is zero. Unfortunately that is the way most writers view the world. They write for people who want the content.

My next post will be about the shit posts on this website, but you have to also understand that people arent looking for good content here. People are looking to make $, any way necessary.

Pushing to the trending page is also not the way to make something work. In fact, the real way to make your post work is to rise above the noise and connect with your audience.

Even your tag line says "A creative soul searching for an audience". Who is your audience? Steemit caters to the crypto audience. That means that if you aren't writing about crypto, then your audience is unlikely to care about your content.

Hard to hear, but its the truth. This website mimics real life, and making money in real life aint easy if you dont have money to start.

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You are right, of course. I tend to focus myself toward the creative sub-communities of Steemit where the things I do can get validation from like minded steemians without ever coming to that realization about the community: crypto is the goal, not the perk. That puts things in a whole new perspective. I mean, I knew there were people here who were just in it to make a buck. It just never occurred to me that it was the majority of people. Feeling kind of stupid right now for that. Thanks for shining the light in my eyes, brother.

I should be glad then that I am using Smartsteem . Thanks for the info and for the encouraging post.

Steemit has the highest transactions. Yes, I think so. If there is no voting bots, transactions will be drop overnight. Voting bot is not all bad at all! :p

I am starting to notice that buying votes either evens out or makes a person lose money. For example if a person uses SBD to purchase the vote, the value the person receives from the upvote is usually not equivalent to the amount of SBD spent for that vote. Is there really a way to profit from buying votes and if so how would a person do that?

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show me how you came to that conclusion.

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I've just used upvoting bots for a little while now and don't see it making a big difference to my account. Not that I've been using a lot of SBD towards it, but I've been trying it and It seems like everything has just been stagnant.

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I took a look at your wallet. It looks like everytime you sent $ to a bidbot, you got back twice the value. Can you confirm this?

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You are right that it does seem like double when you initially look at it, but I think about it after payout. I'm not really sure if it is worth it... that is kind of why I commented. For instance one of my posts came to $0.60, but after 7 days, it cashed out at $0.25 SBD and 0.09 SP. I mean SBD and Steem are usually pretty close in value, so I look at that as $0.34... that ends up being less than what it said it would be cashed out at. So in my mind (and my thinking may be wrong), I look at it as when it cashes out, it may end up being around half of what it says it is worth... which takes me back down to about what I paid for an upvote anyways. Seems to break even to me. If I am wrong in my thinking, please enlighten me.

Right, bots themselves are not the problem. But imagine if your bot could be more profitable if it was searching for a qulity content or at least filtering offers that want upvote something that is obviously worthless. We need a little system change so that bots have different mission. More about the idea is at my post: https://steemit.com/steemit/@petermail/how-to-save-steemit

I found this blog very helpful and interesting dude :) Hopefully your knowledge and tips get me further a long with STEEM
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Yes, agreed, that is the secret sauce of Steemit, of capitalism, the law of supply and demand, like you are saying, buying upvotes is the same as Google Adsense and Facebook Ads and Facebook is making billions of dollars each year off us humans on earth. Why not make money on Steem? Why limit that ability of the free market? Good post. I'm Oatmeal.

me gusta mucho tu publicación en particular lo del concurso que bueno que quieras ayudar a nosotros los pecesillos pequeños te deseo éxito

Well said, unfortunately it’s the only way to get noticed around here.

How can I buy a bid BOT?
I WANT to win at Steemit.

wow and I thought that it was hard work and dedication. No wonder after spending thousands of hours on steem I have barely made $200