Time flies when you are having fun! It's been a week now since I posted that I would be experimenting with the Bid Bots to see if one could create a self feeding cycle of voting collateral.
We now have seven posts to take a look at. I am utilizing the data from steemworld.org to take a look at where we stand as far as post payouts at this point. It is important to note that none of these posts have paid out yet. They are all still in position to have upvotes, or downvotes added which will influence the final payouts, and the rolling average of Steem price will mean the actual payouts will fluctuate from these numbers.
So here's where we sit. As a reminder, all of the posts above were bid up with at least a bid of 10 STEEM or SBD to Buildawhale. With the exception of one post (Rebalancing the Portfolio) the Buildawhale bid was the only bot used. In the Rebalancing post I also sent a bid to appreciator when steembottracker showed a profitable window for that bot.
Bids were all placed within 12 hours of the post being published, again with the exception of the appreciator vote.
In the chart above, you can see that I sent 65 STEEM and 30 SBD in payments to the bots. In return, my post payouts come to 115.46 SBD in liquid assets and 28.91 Steem Power to my account. This does show a profitable return, though the liquid return is only slightly above what is needed to sustain the bids for the next week. But 28 Steem Power is a pretty decent return, and I can supplement the SBD with post rewards from other posts to continue the bidding process.
Follower Count:
I have gained almost 50 new followers this week, and dropped 2 existing followers. Most of these are extremely low SP new accounts, and many appear like they are likely bot accounts, but it has pushed me almost to 2000 total followers.... Which is nice.
The biggest change I will be making in week 2 is to delay the bid by at least 24 hours. This will increase the number of people who can earn a curation reward from the bot vote. More people getting rewarded with curation benefits is a good thing to my mind. Look at the bottom of each post for my estimate of when I will send the bid in to Buildawhale so you can get your vote in before the bot vote comes and earn curation rewards.
The other change I will be making is that I will be rolling vote values. With a track record of profitable bids, the idea is to increase the bids, and thus increase the SP rewards. I'm not sure if I will be able to up all bids this week to 20, that is the goal.
I understand that if I keep down this path that I will start seeing $50 posts and become a great friend of @transparencybot. But the goal remains to only send bids in on valid posts. No shit post bids to be sent in. Of course post value is subjective, so there could be some dispute about that portion.
So far, this is a successful experiment, so we will keep rolling along with it. Let's see where things go for the next 7 days.
Happy Bidding!
The Bid for this post will be put in sometime after 4pm Central Time on Sunday, 5/6.
Nice, I like to compare my bid amount to the actual vote received. Some lower range ones hit ~3% profit and then the larger capacity ones are closer to 15%.
I used to be anti-buying votes but my discussions with some anti-bot steemians have actually swayed me in the opposite direction.
It even seems like a temporary issue, with the right prices of SBD and STEEM doesn't it lose viability?
I think if people actually used their vote more, either in praise or flag then it wouldn't be needed or wanted period.
Congratulations! Your post has been selected as a daily Steemit truffle! It is listed on rank 23 of all contributions awarded today. You can find the TOP DAILY TRUFFLE PICKS HERE.
I upvoted your contribution because to my mind your post is at least 26 SBD worth and should receive 74 votes. It's now up to the lovely Steemit community to make this come true.
I am
TrufflePig, an Artificial Intelligence Bot that helps minnows and content curators using Machine Learning. If you are curious how I select content, you can find an explanation here!Have a nice day and sincerely yours,
TrufflePigIf I am reading this right, isn't 65 STEEM * 3.52 (current price) = $228.80. And 30 SBD * 3.09 (current price) = $91.50. So this means you have spent a total of $320.30 for a return of $301.19 which means you are actually -$20 in returns?
You are right, if I was immediately cashing out to Fiat this would be a bit of a loss so far. But we have been that the market doesn't differentiate SBD as a "pegged" asset and is at least as likely to go up as Steem.
As I get further in to this I will be doing more SBD bids than Steem bids, so we will get a more accurate 1:1 comparison
You got a 10.41% upvote from @postpromoter courtesy of @mikepm74!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
So my question remains how to use the bidbot to get my posts boosted. Can you answer @mikepm
I don't think you do. I don't think that the bid bots bring many new eyes to your blog. As a means of growing your visibility and community, I think the Bid-Bots fail. But as a means of growing your account through investment in bids.... I think they can be used effectively to that end.
I would say this is even true if you bid $100 for a single post to get on trending. Hardly anyone who matters checks out trending anymore, so while you may earn followers, how many of them are actually reading and engaging with your posts? I'm afraid it is not a lot.
For my purposes, the Bid Bots are a churn tool, creating additional STEEM that I can use to re-up my bids later. If the posts draw engagement, I would suspect that is based on the merrit of the content of the post, and not the bid-bot vote value.
I could be wrong, and would be happy to be proven so. But that is my theory!