Hi Everyone,
You may have seen me in my Tutorial Posts on SQL or C#; or you may have read my Poetry or Stories; or perhaps you know me from my Crypto Journey posts that I may or may not return to (possibly depending on whether Bittrex can return my stolen Cryptocurrency or not); or perhaps you don't know me at all, which is perfectly fine.
I've been around (more in PAL and just posting than anywhere else), and my friends call me JJ. So, thanks for taking the time today to read this... it's a suggestion that I had from reading a @GrumpyCat post about GrumpyCompliant bid bot use.
That post describes those efforts, but while reading it I had my own thought that could extend the idea further. I'll detail it below...
So my idea came about because I've been screwed over by those last-second voters like so many others. When, and if I use the Bid Bots (I like to try to fund contests with them and if I really need a short boost for a Post that I'm proud of... yes, I know, a bit of self-indulgence, but sometimes I hope that others see the upvote and want to read it). I'm only Human, after all, so I have used them... heck, because of this whole thing, I've been that last-second voter and I don't like it.
The real thought is to Reward the Early-Bird Voters and make the Last-Second voters less of an impact against the ROI (Return On Investment). How many times have you went and bid only to find that 4+ people bid at the last second to ruin the ROI. I've seen it go from like 65% ROI in the positive all the way to -30% (and I'm sure it could be worse as well).
My thought was that, perhaps, the bots should count a heavier ROI return on those early-birds who vote the bid-bots early as opposed to late, that way other Steemians have a better idea of whether they should bother voting and they can rest at ease that the last-second bidders are not going to ruin the ROI for them. It's frustrating to give up SBD or STEEM and then lose it by returning less than was bid.
As an example option, maybe the voting power for each bid goes as a percentage of remaining time (100% remaining time = 100% value for your bid, while last-second votes count 0%). That would be pretty harsh to everyone, though, so I'd probably allow 100% up to about half the time (so if the timer is 2Hrs. 40 Minutes, the Poster gets 100% up to 1 Hr. 20 Mins. left on the clock), then the value starts decreasing as the time winds down... and I would have the low limit at 1% at the end so that those last-second bidders get something out of it.
I think that doing something similar to this will make voters more aware of the timer and how to use it appropriately as well as being more aware at what their last-second votes have done to others in their Community. Let's front-load the ROI so that people can see what's going on better.
What do you think? I believe the Community should have a say in this, so let's hear some Feedback on this problem!!
A BIG Thanks to everyone on their work with Steemit!!
