The Ninja-mined Bidbot
Now, this is a potentially very stupid idea I know but, for a little bit of something interesting for people who are into this kind of thing to think thorough, I thought I would open it up to the audience before I head off to bed.
The picture above is the current vote of @steemit, the largest Steemit account that holds a massive amount of Steem. It was 'Ninja-mined' and there is supposedly an unwritten law saying it can't be used. But, it is a liability.
The total STEEM supply is: 275,752,000 STEEM. That means in that one account controlled by Steemit, there is ~16.6% of all STEEM currently available. This is a large amount to have centralized on a decentralized platform.
Also, just for laughs, that vote will take a zero account to ORCA in 1 day (10 posts) and make it a WHALE in 2 days (20 posts). Upvote me please dear?
Due to the massiveness and liability, there has been discussions on what to do with it and whether it should be burned or distributed via airdrop based on stake and the like
Well, why not make it into a bidbot where users can bid to get its support except, instead of taking out of the pool, it pays in STEEM POWER directly from its own account?
The platform is already essentially pay-to-play and this is a currency that can be bought and sold so, sell it. Except, instead of selling it on the open market, it gets sold to users who are posting or, could be posting at Steem.
People send SBD to the Steemit Bidbot, and it returns a factored percentage in STEEM POWER that is worth more than the SBD itself. And then, use the SBD collected to do whatever will return it to its 1 dollar peg.
I obviously haven't thought through this much yet but, for those who are using bidbots to grow their account, Steemit could offer added incentives to do so without taking it from the pool and, those who are using them to extract, can still use the bidbots taking directly from the pool. It could offer cheap STEEM to Steem users until the account is significantly depleted.
What could also be interesting is if there was a manual curation team attached to the bidbot that would check basics like plagiarism etc, before distribution takes place to ensure that as little abuse possible happens.
Or perhaps, there could be a cap on vote value and usage to make sure that the users with a lot of capital don't gain massive advantage. This would allow new users to come in and immediately start buying additional cheap steem by posting and, seasoned users to gain advantage also.
Essentially it could offer a premium incentive to buy Steem Power, not just Steem. Sure, many people will just power it down and sell it off causing prices to fall but, those that do hold it will see the gains as the pool runs dry or a cut off point where the tap stops. What if it ran in stages where it sold 500,000 in cheap Steem a month or something like that?
Of course it could also airdrop 500,000 a month based on held STEEM POWER to active users meaning that every month people hold, they will get additional Steem Power over the next ~8 years and those who power down, will get less. New user will still get something but long-term active accounts would get rewarded for holding stake.
Would this bring more people onto the platform and encourage them to buy some Steem on the open markets first? Will it encourage users to hold longer term?
What if it was also tied to an SMT/Oracle system that went through and evaluated users on various criteria to give them additional factoring on their airdrop amounts. posts, engagements, comments etc? Would this incentivize users to engage more if there was a bonus to do so?
Yeah, it would all likely be gameable but, what isn't at Steem? At least it would be an interesting game to play.
There are approximately something like 60,000 active active accounts on Steem which means that if the total was distributed evenly today as SP, each would get ~738 STEEM POWER. That is an ~0.11 added vote for every active account on the platform and no one would be a redfish.
Assuming that about ~98% are currently redfish, that would be about 58,000 accounts who would suddenly control ~42 million Steem power, more than all the bidbots combined. Man, that would make a bloody mess wouldn't it considering that it is also that group who are the most likely to extract their earnings too.
Could also just burn it all.
This is just some silly stuff to think about at 2 am and isn't to be taken seriously. Not that there is very much risk of that.
Off to bed.
Taraz
[ a Steem original ]
Or use it to reward active people who still stick to the platform. :)
Maybe a monthsary/anniversary Steem Power bonus. The amount given depends on how active and "non spammy" the account is. I think that would make user retention increase a little
I like this one.
Related thought: what would happen if there was a large bidbot whose vote could only be used on 100% power-up posts?
Yes, with a factor that meant that it was at least as beneficial as taking the SBD (since it has broken peg). Fun ideas to play with.
It's very clear that Steem Dollar is worth more than 1 Fiat Fantasy money US/Euro coin haha. Only a couple million SBD available. The global market of humans is 7 billion and soon 10 billion.
Love that idea!!
If we do that, what happens to new accounts delegation? People would need to buy their accounts from that time on?
The delegation would be separate still.
It does make me wonder what would happen to the price of Steem if it was just lit on fire and burned.
I would expect it to just remain there just in case it was ever needed to be called in. That kind of power could just wipe out anything that was deemed such massive abuse that such a measure is only way.
Yes. Good to have power on backup.
Just delegate the lot to me. I can handle the burden and responsibility.
Well @tarazkp I really like to idea. It is nice to read something out-of-the-box-thinking with some what-if flavor!
I don't believe that turning it into a bid bot idea, would be the best option. Also I don't understand what this would do with the reward pool. I can understand that it would be raped less, but how would the regular not bod users profit from the remaining part in the reward pool?
Or would it stay in and accumulate?
Could you explain this a little further!
Thanks,
Peter
Made some sense to me though @tarazkp. Instead of us staring at it and daydreaming, let it be air dropped, used as a bidbot or something. It would make things more interesting.
We don't need mainstream attention right now. Steemit is not ready for it. 2021 maybe.
So this is what you were thinking of. I must say, turning the biggest account in a bidbot, is quite the creatives :P
It's a big subject to think about, and my mind at the moment is not ready for this. I might think about this later haha
I changed my mind. I might still post something though as I feel like writing even though it is so late
Pleeze sir vot for vot!!!
but in all seriousness why is this account not being put to use?!!?? why not delegate that or vote some some quality post?!? or screw it... burn it... send sbd's to $1... c'monnnnnnnn
Hi Taraz. Some interesting ideas. I think the air drops are probably the best ones but only to active users. It could be used a bit like a gym membership. You have to be active on the platform for so many days a month whether it be posting or commenting on posts. That way there would be more going on and maybe change some of the mindsets on here.
You know how many months/years it would take to create a system like that? They are already busy with more important stuff like SMT and Oracle. Which is more important for the long term.
It was just a thought. I have no idea how long it would take.