So, Bid Bots are a hot topic. Just about everyone is talking about them. While the Zeitgeist is in full effect I wanted to take some time during my semi-weekly Steem orientation to explain how they work, show an example, and visit a website designed to show you how to achieve maximum earnings from your bid bot investing. This is the Bid Bot 101 portion. I then present some basic level steem information to help look under the hood and explain how the platform works.
On a side note, my argument is that a bidbot is just a tool. The tool is neither good or bad, but it's a tool that can be used. If it's used to solely upvote shitpots then it's a bad tool. If it's used unethically that's also a bad tool. If we as a community use them to upvote high quality content and support authors on the platform then it can be a tool for good.
Also, bid bot owners and people that delegate to them are investors. Rather than shutting down an avenue for their investment entirely, which would hurt the price of steem I think we should figure out as a community how do we run them well. I'm going to attempt to put together something along the lines of a Steem Chamber of Commerce or a more narrowly focused a League of Extraordinary Bid Bot Owners to help set some standards of ethical practice for owners and advice for buyers.
If you end up wanting to invest in Steem and earn a return through an ethical bid bot I'd encourage you to check out this post and consider delegating steem power to it: https://mspsteem.com/bidbot/@minnowsupport/a-bidbot-for-the-people-introducing-msp-bidbot
Since it's been active yesterday it's almost doubled the steem power that I initially placed on it.
Thank you for sharing. Have watched it before on Youtube. ;-)
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good
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Do you say "welcome very much" at the start? lol
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y u do dis?
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You're very much welcome!
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good Project
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@aggroed, I really like the idea of Steemit bot owners working together to create ethical practices.
I agree that bots are a tool, that can be either used for good or bad. As individuals we most decide how to use this type of tool.
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With bots we are shifting our focus from proof of brain to proof of business... It's un constitutional... The papers talk about collective wisdom of the crowd...
https://steemit.com/bots/@ahsin/humans-create-bots-curate-that-is-not-how-steemit-was-born
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But I see your point on ethical practices... Hopefully together, if some standards are laid out, it can do more good than harm...
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I need to check this later
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I couldn't agree with you more! No BS and right to the point! I really like your writing style.
I read this piece at a rather poignant time, and it just hit home. (So, please bear with me, it's very relevant, I'll try and make it short) I had just finished checking on some of my investments, basically because I was becoming irritated that the only news, that everyone seemed to be talking about, was the price of Bitcoin. Okay, it's up, really high, I get that, but most "average" investors don't own 100 BTCs. I don't need an update, every 5 minutes, from every media outlet. When I finally made it to check on my last investment, I couldn't log into my account, I was completely shut down. This is a major investment of mine and I was becoming a little concerned. Finally, I discovered why, all of a sudden, I wasn't able to log into my account that I had just been on yesterday. It was because I am a U.S. Citizen and the government is now using the Securities Act of 1933, to try and regulate the Cryptocurrency Markets, so much so, that now they are preventing me from even logging into my account. I sh*t you not. I've encountered this before, but never, has it actually prevented me from getting into my account. To apply a regulation that was created 84 years ago, which I could easily write pages and pages on just how ridiculous and irrational it is to apply a rule, especially one that was written during the aftermath of the Great Depression, to today's global market and economy and then actually believe that we aren't going to be totally pissed off about it and that we are stupid enough to allow this ridiculous, antiquated, law to intimidate us into submission, then I guess the government officials pushing this, truly are as stupid as most citizens believe.
We are in uncharted waters here. This doesn't simply involve the United States, this is global. We have a completely new global economy, with its own currency, we cannot try and regulate it like we have in the past, this stretches much further than the U.S. borders. Right now there are too many unknown variables, to even consider slapping the Securities Act from 1933 on any Crypto transaction. It's almost funny, to think how any lawmaker could make an argument justifying it. New laws and regulations may be needed, but any law or regulation over 50 years old regarding financial matters needs to be completely thrown out. I bet if the U.S. Government could slap a 30% tax on all Crypto transactions, then every exchange and ICO would allow U.S. Citizens. They don't want to devote the time, that is being paid for by us, to seriously discuss this matter thoroughly, then come up with just, fair regulations. Hell, why do that when there's an 84 year old law on the books they can throw out there on us!?! Am I the only one that thinks this is completely insane?
I believe, very strongly, in this new Global Economy, using Cryptos as the universally accepted global currency, with it all being run on a much faster, more secure, inexpensive version of the traditional financial institutions, Blockchain Technologies. I have said this many times, each time it seems to become even more and more personal, but this IS the future that is the best for everyone. I believe that much in Blockchain, Cryptocurrency, and the power of individuals. Whether people want this to happen or not, it is. The future is now and this is moving faster than anyone could've imagined. But, it is helping a lot of people. Anything helping so many, creating so much good, shouldn't be stopped, or regulated, it should be given the time and space needed to thrive even more. If we continue on this path, imagine how much better of a world this would be.
I read this post immediately after my little run-in with the Securities Act of 1933, so the timing was perfect. I agree, these bots are tools, it's how we use them, that will either make them a force of good which can help many and the truly deserving, or we can use them like the fat cat bankers on Wall Street, greedily and help no one. I know how I want them to be used but I'm also not naive enough to believe that all people will use these honestly and for good.
I'm eager to see the direction this goes. If enough of us do the right thing with these, good will come from them. Anyone wanting to reap the rewards, must be willing to put towards the effort. I like that you are wanting to get together a group and discuss the direction of this project. That is naturally the next step. I have high hopes for this and believe you are starting off on the right foot.
If you remember nothing else from my comments, please, PLEASE, remember my account of my day today and how an 84 year old regulation prevented me from accessing my account. Some regulations will undoubtedly have to be introduced, due to the shear number of dishonest people just waiting for new ways to prey on the innocent.
EVERYTHING IN MODERATION :)
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This post has received a 6.54 % upvote from @buildawhale thanks to: @aggroed. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
To support our daily curation initiative, please vote on my owner, @themarkymark, as a Steem Witness
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This post has received gratitude of 5.94 % from @appreciator thanks to: @aggroed.
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