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RE: WHAT NEEDS TO HAPPEN TO REACH $10 STEEM IN 2018: Disecting @acidyo’s comments on @timcliff’s recent post.
@sistem, this post reminds me about something I had read about HFT. If only we slowed the transaction speed down, then we wouldn't have all this algorithmic trading [Flash Boys - Michael Lewis]. So far there have been no changes. This is because all stakeholders of the issue can't come together to come up with an equitable solution.
On Steem the true requlators are the witnesses. I would be interested in how they come down on the issue of bid-bots.
What do you think?
Do you think the witnesses have a say against bidbots? Many of them patronize bidbots so taking any negative action about them would mean shooting themselves on the foot.
This is sad, to say the least though.
Yes, it is what I call the Tyranny of the Elite. Where a few, hold most of the power.
I don't beleive it is sad. It is a very short-sighted strategy. The only hope (SW reference), I see is that usually when someone is playing a short-term strategy, there is a contrarian long-term strategy to play.