Last week I asked if anyone could do some blockchain math for me to see how much was coming out of the pool. @paulag was one of the group who crunched some numbers and found that for the week 18th – 24th March, the amount of SBD sent to the bots was 75.70K. On top of that, almost 6.5% (~13,000 Steem) of all Vests earned on Steemit are paid to bidbots through curation. Pretty incredible hey? Oh, this is only on the known bots.
Ever thought where that 75K in SBD goes? It is liquid after all. Now it has a value of about 150K US dollars but, it did have a value many times that in recent months. Perhaps they are buying other cryptos? Which ones I wonder? I like thought exercises and following where my mind leads.
One of the soft rules of investment is to invest into what you know, that way you have an understanding of the changes and how it might affect the markets. Of course, sentiment drives the markets too, I wonder what kinds of sentiments live at Steem, what holds sentimental value?
Steem after all, is a @dan creation, just like BTS and... EOS. Do you think that sentimental attachment to 'what one knows' would influence buying behaviors? I wonder, bidbots would make it possible to keep Steem vests growing through curation while creating the liquidity needed to buy-in to some other currency (for example EOS) without ever having to risk personal stake. It could be able a hedge bet with no cost or risk perhaps.
Those buying from bidbots who could use their SBD to do something else with are taking the opportunity to pay for a bit more Steem at the cost of something else. Funnily, 30% of all author SBD Rewards were sent back to bidbots during that same week and remember, that the bidbots only made up 1.5% of votes cast.
Of course, this is purely my own speculation but I think that would mean that the people who are here taking the most from the community could also be the same ones buying into the new community on the horizon. As far as I have been able to gather, that is going to be stake backed too which potentially means, the same people are likely to have the most stake. People being relatively habitual, I am guessing that their behaviors aren't going to shift a great deal from platform to platform.
It doesn't really matter at the end of the day though does it? It is their SBD to do with as they choose as people have happily sent it to them to gain access to their portion of the pool. For me now, there is very little more I can do or say except to run personal thinking exercises and chase the ghosts in the pool of my mind. For a few SBD you can have access... only joking. I will write it here for free.
It is late here and I am tired so perhaps my mental chase wasn't the greatest. Business as usual as they say.
Taraz
[ a Steemit original ]
I know a lot of this goes to those that lease sp to the bots in the first place but some of these deals are done off steemit so getting accurate data is difficult
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yes, it is difficult on, impossible once it goes off platform.
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You have highlighted an area which we kind of knew already. Three quarters of the money mined is going to bots. So twenty five percent are using this platform correctly or are we just stupid. I have looked at a couple of Steemians on here and can understand as I think it is there main income. You may laugh but we could all be doing that in a few years if we all don't have jobs.
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And we strive daily to provide quality content for others. Fighting, at least I, to achieve adding some SBD to have a source of extra income that serves to survive the crisis in my country. But hey, there with their bizarre strategies.
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It gives one pause, doesn't it; where is the sbd going to? If they are buying stake in another platform, then it means the circle will continue and what many left the real world economy for, to be here, will be replicated.
Well you have said all there is to say and more; it is their sbd to do as they please.
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what you're basically doing is thinking, from a macroeconomic scale, about how certain actions affect the economy of steemit.
I've been thinking something similar lately - with things like the Appics ICO, whether that would affect the price of steem... afterall, the minimum purchase for this ICO round is $5000 USD - so it would mostly be whales that would be cashing out some of their steem above this amount, which would essentially be pushing down the demand of STEEM (though if it gets transferred to appics and they keep it in STEEM, then at least they aren't pushing up the supply at the same time).
Same could be said of EOS, as it would be closely linked due to the relationship of sharing the same founder..
in the end of the day the whole crypto market is very closely related - money goes into the market, all the coins seem to go up and down together...
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I don't know. It's hard to tell what people are doing with the money without asking them. Early in my Steemit career I considered getting involved in a dispute. I decided against it. I subsequently saw numerous Steemitians who were not so prudent in their choices and they got destroyed. I don't get into whales' business much... and if I do, I try to be extra respectful. That being said, I need to get a bigger stake for the next time around!
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Exploiting Steem, fostering it's downfall while buying into the future platform that's better (EOS). Yup. I've commented similarly I believe, ditch the old and jump onto the new better platform, how Steem is on the way down and EOS will be the future to head towards ;)
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Same people, different?
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Different platform, different leaders can make a huge difference.
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A lot comes down to user behaviour though and humanity is what it is.
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We do evolve, hopefully enough to be worthy of a decentralized community platform
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Some whales are leaving. The original team has split with dan pursuing his own projects. A lot of tokens needs to be flushed before this finishes, so there's this extra supply and we may see some selling pressure until June. It's kind of a one off event, so sbd/steem should pick up in value when they are gone!
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nice picture @tarazkp,
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