Tribaldex Blog

You are viewing a single comment's thread:

RE: Is SBI Still Taboo Or Is It A Valuable Tool On Hive?

@zakludick73
The CTP Swarm

It might seem that way, but as I said, we havent really got the math down to prove if it is an exploit or actually just a different way of spending your Hive.

As usual, it only really starts turning heads when someone DOES do something exploitive with it.

Consider this:

I have myself, my wife and my three kids on Hive. My wife and I both contribute content, a variety. We aren't bringing massive money from outside Hive, we bring content and we bring other people. We make the platform busy and worthwhile and social. We teach our kids.

As time goes by, I sponsor a little HBI here and there to my wife and kids and my own HBI stacks up. In a matter of years I might have a couple of hundred or a thousand.

I have been posting regularly on Hive for years by this point, earning crypto for my time. The SBI votes will have increased but will be insignificant compared to all the other votes I have built up by then. Look at your average votes on a post as an example.

I don't consider this exploitive behavior.

Now imagine an exploitive behavior by someone who has no altruism at heart and wishes only to profit.

They come to Hive with $1,000,000 and build 2 or more accounts with fairly chunky bits of HP. Then they buy thousands of HBI tokens, sponsoring their alt account. Now both have HBI.

Now this person starts posting with both accounts. They don't break any rules such as plagiarizing, spamming or posting in the wrong community, but what they post is garbage.

They do not engage with others and do not follow or vote for other people's stuff. Just the two(or more) alt accounts. Each will earn from votes on HBI(SBI) and their own votes. Their content is just enough to not get into trouble but adds nothing to the platform or to our little society.

THAT would be exploiting the rewards pool. they will start pulling their $1mil back and go beyond, draining Hive of value in exchange for nothing.

0.00055535 BEE
3 comments
@steembasicincome74

These are interesting scenarios to consider. The first case is our intended audience. You build some up, you build up your wife, your kids, value accrues and you get rewards whenever you post, but you don't have to post everyday because you keep accruing value even when you don't post.
The second is something that we would consider to be an 'attack vector' that we think about a lot. There are some ameliorating factors.

  • our focus on sustainability means that the APR on Hive SBI is only marginally better than just powering up and upvoting yourself. (Double if you sponsor alts, of course, but then you get double if you self-vote from alts too.)
  • 'bad apples' like quick returns and it's HARD to get your money back out of Hive SBI if you need to split, it makes it a good choice for somebody making a long-term commitment but a terrible choice for somebody planning to be abusive. (This is the part that the DV crew didn't understand when they likened it to vote-selling. Vote Selling was 100%+ ROI within a week, so you could run the most abusive content and still come out ahead if you got caught. You would have to run abusive content for years to make your returns from Hive SBI).
  • we do have a quality policy, and we're not afraid to skiplist accounts when we receive reports of bad behavior. In the future, account review and skip-listing will be managed by our DAO.
  • our maximum vote per post is actually kind of small. We target a VP level between 40-60% and it tends to fall a little when HIVE is spiking because inactive accounts start posting again. The fluctuations are mostly invisible to smaller members, but very noticeable to our 'whales'. $5-10 per day isn't enough of a return on capital for even the minimal effort of posting 'junk' to attract many whales that don't embrace our values or buy into our vision.

In the few cases where your second scenario has played out, we had some conversations with the user, skip-listed their account temporarily, and then coordinated with them to transfer units to respected community accounts when they decided to move on.

0.00139001 BEE

View more

@metzli67

It is not exploiting, it is investing.

The 1,000,000 is locked up forever - that helps the eco-system.

And, who gets to decide what "garbage" is. An account which posts short content and gets great payouts is a massive marketing (for the blockchain) opportunity.

0.00055512 BEE

View more

@jongolson80

That's a great example. And yeah I never thought of SBI as an exploit, I loved the project. Heck I did like 3000 SBI sponsored shares or something lol

I believe it was mentioned in another comment, the culture was much different back then. And we were just ending our 'bid bot' relationships lol

0.00003427 BEE

View more